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The blockchain field continues to witness significant developments with the rise of the crypto market. Accordingly, ADA may be shaking under downward pressure, but developers have not given up on the Cardano ecosystem. Despite criticisms related to abandonment claims, Cardano continues to be one of the best blockchain protocols according to GitHub activity data.
Cardano Makes Its Mark on the Blockchain Ecosystem
According to data compiled by blockchain data analysis platform IntoTheBlock, Cardano reflected its leading position in developer participation by once again surpassing major Layer-1 blockchain networks such as Ethereum, Avalanche, Litecoin, and Tron in GitHub contracts.
Cardano recorded 978,780 contracts on GitHub between March 11-17, leaving behind its closest competitor Ethereum, which registered 407,170 contracts during the same period. The blockchain data analysis platform’s data also revealed that Avalanche had 315,770 contracts, while Litecoin and Tron registered 84,110 and 79,380 contracts, respectively.
This activity indicates potential for decentralized application (dApp) launches and protocol improvements that enhance overall flexibility and functionality, aiming to attract user interest in the future. It is possible to see airdrop events and memecoin hype that have made a splash recently on the Cardano network.
Prominent Figure Responds to Allegations Promptly
Cardano has remained below one dollar since April 2022 despite strong developer engagement, currently trading around $0.59 with a weekly loss of approximately 18%. It is important to understand that developer commitment does not always directly affect price. However, this data helps measure the determination of developers to build, maintain, and secure the ecosystem.
Cardano is no stranger to FUD (Fear, Uncertainty, and Doubt). In fact, the latest statistics came right after allegations that the team had abandoned the Layer-2 project Hydra. Cardano’s co-founder Charles Hoskinson denied the rumors and confirmed ongoing developments, dismissing them as FUD.
According to data from blockchain data analysis firm DefiLlama, Cardano saw an increase in total value locked (TVL) in the decentralized finance (DeFi) space this year, rising to $520 million on March 14. This figure dropped to $385 million as of March 20.
