Project development activities on blockchains are hugely affected by the onset of crypto winter. But some platforms seem to be more resistant to the crisis. This is indicated by data published on August 22 by the blockchain analysis platform Santiment, whose analysis goes back over a period of 30 days. Ethereum (ETH) leads the networks that have seen sustained development activity over this period. Development activity tracked by Santiment is based on publicly available Github repositories, with free access to full history and real-time data regarding the project.
The Ethereum Merge in action!
Different projects seem undeterred by the conjuncture in the cryptocurrency market, accelerating development efforts on their various blockchains. Over the 30-day period leading up to August 22, Ethereum was the platform with the highest level of project development activity at 401 projects.
It is followed by the open source blockchains Polkadot (DOT) and Kusama (KSM) which rank second and third respectively, recording 400 development activities each. Cardano (ADA) ranks fourth with 389 projects, while Status (SNT) ranks fifth with 324 projects.
According to data obtained by Saniment, the enthusiasm generated by The Merge of Ethereum could explain the renewed development activity. As a reminder, this merger is supposed to move the network to the Proof-of-Stake (PoS) protocol.
Analysts say Ethereum may see a surge in project developments on its blockchain as more developers are likely to be attracted to the platform. These will seek to invest in the new version of the blockchain, which will strengthen its status as a leader in the industry. The number of projects could also speed up the post-merger period as the network will be deemed better, community members believe.
The dynamism of the projects developed on Ethereum could, moreover, be explained by the fact that it displayed a bullish sentiment in the wake of the announcement of The Merge, with the price exceeding $1,800.
In a context where the crypto market is generally in a downtrend, some blockchains have recorded sustained project development activity. Ethereum (ETH) ranks first in this lot. Market sentiment towards The Merge has a lot to do with it.
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