Cardano (ADA) is making progress in the area of development activities while the majority of the cryptocurrency market is still battling to regain its value following the effects of the FTX crash, capping off one of the worst years in the history of the industry.
In fact, the list released by the on-chain and social analytics platform Santiment on December 30 rated Cardano as the top blockchain protocol by development activity in 2022, followed by Polkadot (DOT) and Cosmos (ATOM).
Fourth position has been taken by Ethereum (ETH), which this year underwent the significant Merge upgrade, followed by Internet Computer (ICP), Elrond (EGLD), Flow (FLOW), Optimism (OP), Aptos (APT), and Polygon (MATIC), which came in at number 10.
Although ADA has rated sixth in terms of return on investment (ROI) following the token sale, the Cardano team's development activity rates for the whole year of 2022 were the highest among all monitored protocols.
Given that the development activity rates in Cardano's public GitHub repositories in November were 18% higher than those of the next-ranked asset, which recorded 572.67 produced events, the most recent data are a validation of its prior performance.
Additionally, Cardano's primary network operations have seen tremendous growth in 2022, with its smart contract feature accounting for a growth rate of 394 percent compared to 2021 and reaching the milestone of 4,445 contracts as of December 16.
At the same time, the number of native tokens on the platform climbed by 192% to 7.3 million, while Cardano transactions increased by 139% to 56.9 million, representing a gain of 47% over the previous year.
Cardano price analysis
As shown on the charts, the price of Cardano's native token, ADA, is now changing hands at $0.2421, down 1.39% on the day and 6.59% over the previous week.
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