Cryptocurrency analytics firm Santiment recently published a list of the top 10 altcoins with the highest developer activity over the past 30 days.
The ranking is based on the development activity score, a metric that reflects the intensity of development work done on a project.
Here are the top 10 altcoins and their respective scores:
Osmosis (OSMO) – 147
Radix (EXRD) – 84
Uniswap (UNI) – 76.5
FOX Token (FOX) – 73.8
dYdX (DYDX) – 72.7
Lido DAO Token (LDO) – 67
Synthetix (SNX) – 66.4
Centrifuge (CFG) – 57.63
Sora Validator Token (VAL) – 51.83
Bancor (BNT) – 49.47
Development activity score is an interesting metric used when analyzing Initial Coin Offerings (ICOs) and crypto projects. It's based on the premise that developers' time is a relatively expensive resource.
While it could be argued that developer activity can be “spoofed” with enough money, Santiment believes that in practice we are not at the stage where scammers will spend the money and effort to do so. Also, spoofing developer activities would be pretty obvious to someone checking public GitHub profiles and would compromise the project too much.
Santiment says it has developed a better methodology for predicting developer activity, and that's by tracking the number of GitHub events the project organization produces. According to the analytics company, developer scores are affected by:
- Number of codes sent
- Number of issue interactions – adding/deleting/editing comments to issues
- Number of code pull request interactions
- GitHub wiki edit count
- Number of comments on commits
- Number of open source repos
*This is not investment advice.
