Top 10 Cryptocurrencies by Development Activity (Santiment)

TL;DR

• For the second consecutive time, Internet Computer (ICP) secured the top position.
• Cardano (ADA), which has seen a significant price surge in recent weeks, is also featured in the top 10 list.

The Latest Ranking

Crypto analytics platform Santiment reported that Internet Computer (ICP) achieved the highest rank for “notable development activity” over the past 30 days, receiving a score of 740.7. This token also led the rankings last month.

Over the last year, ICP has seen a remarkable increase, with its price climbing by 215% during this period. It hit a local peak of nearly $20 in March 2024 before pulling back to its current value of $9.50 (according to CoinGecko). ICP’s market cap stands at nearly $4.5 billion, making it the second-largest AI-related cryptocurrency, just behind NEAR.

Chainlink (LINK) secured second place in Santiment’s rankings with a score of 594.8, while Hedera (HBAR) placed third with a score of 473.23. Optimism (OP) and Cardano (ADA) completed the top five.  

ADA has been experiencing significant gains recently, reaching a two-month peak of $0.41. This price surge aligns with the overall bullish sentiment in the cryptocurrency market and is accompanied by the rising total value locked in the Cardano network. DefiLlama statistics indicate that the TVL surpassed $250 million on September 27, a level not observed since early June.

The remaining cryptocurrencies in the ranking include Cosmos Hub (ATOM), ZKsync (ZK), Avalanche (AVAX), Polkadot (DOT), and Kusama (KSM).

What’s Next for ADA?

As noted, ADA has been one of the top-performing cryptocurrencies lately, and it’s worth exploring some price forecasts related to it.

The well-known X user Crypto Rand asserted that a “bullish breakout” was confirmed on September 26, indicating this might be the inception of a move towards $1.

Trend Rider also weighed in, noticing an emerging “super signal” on the ADA/BTC chart. “If it confirms, there’s a strong possibility that ADA could gain value against Bitcoin in the upcoming weeks. This signal has been historically accurate 80% of the time,” the analyst stated. 

Earlier this week, CryptoBullet projected a potential price target for ADA at around $1.80 by next year. Conversely, they suggested it could drop to approximately $0.15 thereafter.