Development activity on the Cardano ($ADA) network has reached an all-time high. Even when prices fell amid a broader cryptocurrency market decline, the project team kept working on it.
According to on-chain analytics company Santiment, Cardano’s development activity ascended to 457 GitHub uploads per day, just as the price of its native coin ADA recovered after a huge realised profit/loss surge.
📈 #Cardano is one of many #altcoins that have enjoyed a great start to the week, currently +13% in the past 24 hours. Development activity has hit #AllTimeHigh levels, as $ADA‘s team worked on innovating while prices were suppressed. 🧑💻https://t.co/kSqbhUZOe8 pic.twitter.com/XiFVl0NK2M
— Santiment (@santimentfeed) May 30, 2022
The price of ADA has plummeted by 10% over the last 24 hours and is now trading at $0.56. The cryptocurrency sank to a low of $0.40 earlier this month before rebounding, partly because whale transactions propelled it to a 4-month high after it bottomed out.
Cardano’s contributions on GitHub have also increased over time and currently amount to nearly 225,000. The number of contributions rose by 0.26% during the last week, while the number of open problems grew by 1.17% to 4,160.
More than 5 million native assets have been created atop the Cardano blockchain, twice as much as the number recorded last year.
There are already 5,054,528 native assets deployed on Cardano over 55,000 policies. According to Cardano’s documentation, minting policies are a collection of rules that regulate the minting and burning of assets covered by that policy.
Native tokens are unique assets that can be interacted with “right out of the box” without the need for smart contracts. The documentation for the network indicates that native assets can “practically be considered as ADA in every way” due to the built-in capabilities.
Before the debut of the much-awaited Vasil hard fork, development activity on the network has reached a new peak. A public testnet is likely to go online on June 2, then the mainnet on June 29. The hard fork is expected to provide Cardano with a “huge performance gain.”