Polkadot (DOT) and Kusama (KSM) Leading Cardano (ADA) in This Metric, Says Crypto Analytics Firm Santiment
Polkadot (DOT) and Kusama (KSM) are leading the crypto market in the past month in terms of development activity, according to the analytics firm Santiment.
Santiment notes that over the past month, both Ethereum (ETH) challenger Polkadot and its canary test network Kusama have had more non-spam GitHub submissions compared to the third most-active project on the site, Cardano (ADA).
“If you base your portfolio around assets that receive solid development activity on GitHub, then Polkadot & Kusama are worth looking into. Over the past 30 days, the assets have 14.3% more non-spam submissions than the next largest asset, Cardano.”
DOT is trading at $6.67 at time of writing. The 11th-ranked crypto asset by market cap is up more than 3% in the past 24 hours.
KSM is trading at $43.84 at time of writing. The 101st-ranked crypto asset by market cap is up more than 5% in the past day.
In terms of the overall crypto market, Santiment also tracks the number of “buy the dip” mentions on social media to possibly indicate when the market has reached its bottom.
Explains the analytics firm,
“Ideally [these] sort of calls happens quite often in the beginning of downtrend, slowly fading to market bottom. This could be explained by increasing crowd disbelief. Less confidence, less patience. At the point of maximal disbelief, a reversal might happen.”
Santiment notes that “buy the dip” calls on social media are diminishing but not gone yet. The analytics firm says the market is “not there yet.”
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Featured Image: Shutterstock/Ruslan Gi