The crypto money market started the new year with great hopes after a difficult year. However, pressure from major central banks, especially the Federal Reserve, which has signaled that it will continue its aggressive policies to control inflation, continues to put pressure on the market. On the other hand, some altcoins such as Polkadot continue their development activities at full speed, even though the market conditions are challenging.
Top 5 altcoins according to GitHub development event
cryptocoin.comAs you follow, the crypto market has now entered a stagnant period after a great start to 2023. However, despite the slowdown in token price increases, the development teams behind a number of different altcoin projects continue to work to help certain assets increase their value.
As of March 2, the GitHub development event is led by Polkadot (DOT) and its pre-production network Kusama (KSM) with 817, according to data from ProofofGitHub. Polkadot is followed by Cardano (ADA), another Ethereum competitor, with 670. Internet Computer (ICP) is third with 577 points, Status (SNT) is fourth with 549 points, and Hedera (HBAR) is fifth with 446 points. Meanwhile, Ethereum (ETH), the leading altcoin project, has the sixth highest development activity at 434. Popular metaverse coin Decentraland (MANA) occupies seventh place with 407 points. Aptos (APT), Filecoin (FIL), and MultiverseX (EGLD) make up the rest of the top 10.
Polkadot sits at the top of development activity
Polkadot continues to pursue development activities with the network dubbed the “Blockchain of Blockchains,” eclipsing other well-known names like Cardano and Ethereum. In this direction, Polkadot took the lead in terms of development activities for January 2023.
The development is actually a reflection of the work done by the Polkadot team following the release of a roadmap to improve the scalability of the platform. Part of the roadmap is devoted to synchronous backup, also known as the extension of parallel Blockchains and the extension of the relay Blockchain. Experts estimate that this improvement will lead to an increase in network speed between 100,000 and 1 million transactions per second.
Finally, with the rise of Artificial Intelligence (AI) and machine learning algorithms, investors are now turning to these advanced technologies to help them predict the future price of cryptocurrencies, given the volatile nature of the crypto market. According to data from CoinCodex’s self-learning technology on Feb. 28, Polkadot is expected to trade at $17.39 on Dec. 30, 2023. The DOT was trading at $6.32 at press time. If the forecast turns out to be correct, it means that there will be an increase in the price of Polkadot by about 200%.
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