Cryptocurrencies have numerous metrics to gauge performance and potential, and token price isn’t the sole indicator. Particularly, long-term altcoin investors should examine details beyond price. Because the network, accurate identification of project growth potential also sheds light on the future of prices.
Top Altcoins
The definition of ‘good’ is superficial at first glance and especially relative in crypto. However, when looking into details, there are countless factors such as transaction capacity per second, the number of active users, and protocol revenue. Additionally, developer activity is carefully scrutinized. Promises aside, if a protocol or network lacks active developer activity, it is risky in the long term.
Chainlink, Cardano, and Polkadot (DOT)
According to the latest assessment shared by Santiment, Chainlink, Cardano, and Polkadot rank high in terms of development activity. They lead with their GitHub activity over the past 30 days.
Briefly, GitHub is a storage service used globally by software developers to produce and share open-source projects. It is essential for open-source projects, and members can offer code improvement suggestions. However, we must note that not all projects with high GitHub activity grow and develop rapidly. For instance, 3-4 years ago, the Stellar team was sending tokens to those who linked their GitHub accounts to the project page and offered suggestions.
In the case of Cardano, intense developer activity does not translate into massive numbers of active users on the network nor the emergence of popular protocols. Therefore, developer activity should be evaluated from a broader perspective.
LINK, ADA, and DOT Price Predictions
Still, crypto analyst Lark Davis believes in the potential of ADA Coin, despite being overlooked in the current cycle. According to him, increasing TVL and network adoption could yield gains in this cycle as well.
For Polkadot, analyst Trader XO considers the $6-8 range an opportunity to buy. He suggests there could be selling opportunities at the $12 and $20 levels. Lastly, for Chainlink, Poppe targets $34. While the price of LINK Coin below $10 was frustrating, Poppe consistently mentioned that these figures represented a significant opportunity in the long term, and we shared his views impartially. Recently, LINK Coin rose from its low of $4.76 (mid-2023, when Poppe’s cries intensified) to $22.89 in the past few days. The increase is roughly 480 percent.
