Cardano Begins Notable Rebound as ADA Development Activity Hits New All-Time High: Analytics Firm


Crypto analytics firm Santiment crawls the charts to produce granular insights on a trio of altcoins.

Heart first strong points Decentralized blockchain platform Cardano (ADA) saw an impressive price increase while noting that development activity on GitHub jumped to over 450 submissions per day.

“Cardano is one of many altcoins that have had a great start to the week, currently +13% in the past 24 hours.

Development activity reached unprecedented levels as the ADA team worked on innovation while prizes were removed.

Source: Song/Twitter

At the time of writing, Cardano is up 6.85% in the last 24 hours and priced at $0.614.

Afterwards looks to the Chainlink (LINK) decentralized oracle network, pointing out that the number of big players in the crypto world who hold more than 100,000 LINK has increased despite the lackluster price performance of the altcoin.

“Chainlink appears to be in the middle of the pack today on a big day of altcoin recovery, up +8.5%.

Notably, we saw that the number of whale addresses containing 100,000 LINK or more increased significantly, up +11.2%, despite the price drop.

Source: Song/Twitter

Chainlink is currently up 2.09% in the past 24 hours and changing hands for $7.62.

Last on the analytics firm’s list is Yearn.Finance (YFI), a yield optimizer that operates in the decentralized finance (DeFi) niche.

Saniment Remarks that despite developer Andre Cronje exiting DeFi as well as YFI being down massively from its May 2021 all-time high above $90,500, work continues on the project.

“YFI was once the DeFi darling in crypto, just a year ago. Now down -91% from last year after its glory days of [Andre Cronje] Yearn.Finance pumping stations.

The coin is not as abandoned by the developers as you might think.

Source: Song/Twitter

Like many crypto assets, Yearn.Finance is down considerably after a market-wide crash in the second week of May, after plunging 55.9% from a monthly high of $18,346 on May 4.

YFI is currently valued at $8,138.

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