The blockchain MultiversX (EGLD), a layer-1 platform, is asserting its leadership in the digital asset gaming sector, in terms of ongoing development activity, as stated by Santiment, a prominent crypto analytics firm.
Santiment, in a post on social media platform X, revealed that MultiversX, previously recognized as Elrond, logged 212.17 significant GitHub events over the past month. This show of activity clearly sets MultiversX apart from its peers in the digital asset gaming sector.
In comparison, Decentraland (MANA), an Ethereum (ETH)-based virtual reality platform, stands at the second spot with 168.93 events. A distant third, the Ethereum layer-2 protocol Skale Network (SKL) registered just 41.07 events. This isn’t the first time MultiversX and Decentraland have claimed the top two spots, as per historical data from Santiment.
The firm has clarified that it doesn’t take into account routine updates during its data collection. Instead, it employs a ‘better methodology’ for accumulating data on GitHub events, relying on a thoroughly backtested process.
Santiment has previously indicated that high levels of development activity around a crypto project are generally seen as a positive sign. It suggests that the developers have faith in the protocol’s potential success. Furthermore, it also signals that the project is less likely to be an exit scam, thereby offering reassurance to investors and stakeholders.
MultiversX operates as a distributed, proof-of-stake blockchain network, decentralized across more than 3,500 nodes. The project is designed to facilitate developers in creating next-generation applications, aligning with the evolving needs of the digital world.
The native token of the project, EGLD, is currently trading at $18.10 as of the time of writing. This places it as the 139th-ranked crypto asset by market cap, showing an upward trajectory with a rise of more than 3% in the past 24 hours.
The data provided by Santiment paints a portrait of MultiversX as a dynamic entity in the world of digital asset gaming. With its constant development activity, the platform is not just leading the sector but also setting a benchmark for others to follow. As the crypto world continues to evolve, it will be interesting to see how MultiversX navigates the landscape, and whether it continues to maintain its leadership position in terms of development activity.
