Polkadot’s [DOT] loss, Cardano’s [ADA] gain? Assessing 2 key levels

Polkadot experiences a drop in development activity while Cardano’s development efforts surge.

The development activities of Polkadot and Cardano moved in opposite directions. However, the price trajectories of both tokens were similar.

Polkadot [DOT], known for its robust development activity, has failed to live up to its moniker of late. On the 18th of April, Polkadot’s weekly development count stood at 401.39, per a tweet by Polkadot Insider.

Over the week, however, the indicator declined, and ended with a count of 397.04 on the 24th of April. This fall could have significant ramifications for the Polkadot ecosystem.

A decrease in activity may signal challenges or shifts in priorities among developers, potentially impacting the pace of innovation and the rollout of new features or projects.

Source: X

The number of code commits being made on the network had also declined over the last few weeks, as per Token Terminal’s data. Core developers working on the network had seen a decline as well.

Source: Token Terminal

Conversely, Cardano emerged as a strong contender in development activity. With a sizeable increase in development efforts, Cardano was positioning itself as a formidable competitor to Polkadot.

According to AMBCrypto’s look at Trading View’s data, Cardano ranked number two in overall development activity across cryptocurrencies.

Source: TradingView

Additionally, the number of core developers and code commits on the Cardano network remained stable and did not see much of a dip over the last 90 days.

Source: Token Terminal

Polkadot and Cardano: Price movements

Despite the differences in development activity, both DOT and ADA have experienced similar price movements. Both tokens have faced downward pressure, characterized by lower lows and lower highs.

Breaking free from the current bearish pattern would require a significant surge in bullish momentum for both DOT and ADA.

Recent increases in the Relative Strength Index (RSI) for these tokens suggest the possibility of future growth.

Source: Santiment

At press time, ADA was trading at $0.4685, showing a 3.79% increase in the last 24 hours, while DOT was trading at $6.83 with a 2.86% increase.

In terms of social activity, ADA witnessed a massive uptick, surpassing DOT in terms of social volume.

This increase in social activity may reflect growing interest and engagement within the Cardano community, potentially contributing to positive sentiment surrounding the token.

Source: Santiment

On the other hand, Weighted Sentiment for DOT remained negative at the time of writing. This fall may cause further downward pressure on DOT and could impact its price movement in the future.

Source: Santiment

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