Cardano Takes The Lead With Groundbreaking Development Activity — Can ADA Price Go To $12?

The latest data demonstrates that Cardano is making headways in the cryptosphere. Cardano has topped all other crypto projects, becoming the blockchain with the most significant development activity.

This is a huge feat for the so-called Ethereum killer. Interestingly, Ethereum held the tenth position in terms of developer activity.

Cardano Leads The Pack In Dev Activity

Recent data from Santiment revealed that Cardano has successfully usurped Polkadot (DOT) and Kusama, taking the lead as the blockchain with the highest development activity taking place in its public GitHub repositories.

Cardano recorded 611.47 notable GitHub commits over the past 30 days to lead other projects. Polkadot and Kusama have each recorded 500.67 GitHub commits during the same period, tying for second place.

The impressive development activity shows the confidence that developers have in the potential of the Cardano blockchain. It also reassures investors that the network is headed in the right direction. 

It’s pertinent to note that as developers remain active in deploying new projects and features on the Cardano network, the result will be expanded utility, which, in turn, drives mainstream adoption.

Potential ADA Price Rally To $12

Despite the extraordinary achievements, the price action of Cardano’s native coin, ADA, has been underwhelming in 2023. ADA has lost 1.5% of its value at publication time, changing hands at $0.247, according to CoinGecko data. Per the weekly chart, the token has lost 6.8%. Even worse, ADA is down by over 92% from its all-time high of $3.09, registered in September 2021.

In light of the robust developer activities, the ongoing debate among crypto insiders suggests a potential ADA price revival, potentially hitting the $8 and $12 range in an ultra-bullish market scenario. 

However, to solidify its position and potentially surpass $12 at the end of the next bull market, Cardano needs to continue growing and delivering on its promises, including the planned updates for 2023.

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• Source: https://zycrypto.com/cardano-takes-the-lead-with-groundbreaking-development-activity-can-ada-price-go-to-12/