- Polkadot’s development activity has shot up 40% over the past 30 days.
- Moderate market cap tokens like KSM and SNT have seen a similar rise in their development activity.
- The market capitalization of the top 10 projects by development activity has gone up by an average of 48%.
Crypto tokens with moderate market capitalizations accounted for the majority of the projects in a list of the top ten projects ranked by development activity in the last 30 days. The list also featured several heavyweights, including Ethereum (ETH), Cardano (ADA), and Cosmos (ATOM).
According to data gathered by G Crypto on Twitter, Polkadot (DOT) was the leading project in terms of development activity over the past 30 days. The month-on-month development activity rose by a whopping 40%, while the project’s market capitalization grew by over 42% to reach $7.6 billion. DOT was trading at $6.68 at the time of writing.
Polkadot was followed by Kusama (KSM), a relatively new project launched by Ethereum co-founder Gavin Wood in 2019. Interestingly, Kusama was created by the same team that created Polkadot. This would explain the stark similarity in the growth of the development activity of both projects.
The next relatively moderate token on the list, with a modest market capitalization of $116 million, was Status (SNT). According to data from Santiment, this project saw a 23% hike in its development activity and a whopping 52% hike in its market cap. SNT was trading at $0.029 at the time of writing.
The list featured several other moderate crypto projects, including Internet Computer, Filecoin, and IOTA. The market capitalization of the projects on the list grew by an average of 52% over the past 30 days. At 103%, Decentraland (MANA) accounted for the most increase in market cap.
Ethereum was the largest project on the list, with a market cap hike of 28% which took it to $199 billion. Ethereum’s development activity went up by nearly 67%.