Recently, the crypto world has seen a noticeable increase in developer activity due to price movements. Cardano (ADA) has surpassed Ethereum (ETH) in terms of developer activities. However, this is not necessarily an indicator of price, but it is noteworthy as it shows the network’s activity.
Cardano Overtakes Ethereum
Cardano, a proof-of-stake (PoS) based Layer-1 Blockchain protocol, is impressing with its recent development activities. According to data from IntoTheBlock (ITB), Cardano’s GitHub commits have reached levels that surpass other top-tier L1 Blockchain networks. Particularly, Cardano’s recording of 978,780 commits between March 11-17 is significant enough to shake Ethereum‘s influence in this area.
Ethereum falling behind Cardano has become a significant talking point in the crypto community. Ethereum had long been seen as the leader in this field, seemingly far ahead of its competitors. However, Cardano’s recent rapid development has the potential to fundamentally change this perception.
Certainly, Cardano’s success is not solely due to developer activities. The protocol’s solid foundations and user-friendly structure are also highlighted as key factors behind this success.
What’s the Current Price of Cardano (ADA)?
Cardano (ADA) is currently trading below the $1 price mark it reached in April 2022. This is unexpected for many investors because generally, more developer activity tends to raise the price of a cryptocurrency. However, ADA is defying this trend and following a different trajectory.
Current data shows that ADA has experienced a 10.16% drop in the last 24 hours, falling to $0.6085. The increase in GitHub development activities seems to contradict this price drop. Despite gains in the previous week, ADA’s price has fallen by 18.32%, and the market is closely monitoring this situation.
Of course, volatility has become the norm in the cryptocurrency markets, so a drop one day could be followed by a rise the next. However, this negative trend in Cardano’s price is causing concern among investors and serves as a reminder that unexpected developments in the crypto world can occur at any time.
Expectations are that Cardano’s development team is working on updates that will offer more functionality and use cases. However, when these developments will impact the price remains uncertain.
