Cardano Surges as Top Blockchain for Developers
Cardano (ADA) is making waves in the crypto world. It has become the top choice for blockchain developers, according to Cryptometheus data. The platform recorded 21,440 GitHub commits across 550 repositories. This puts it ahead of Ethereum, which had 20,998 commits across 278 repositories.
In the last week, Cardano saw 29 developers making 228 commits. Ethereum had 15 developers and 199 commits. This shows a growing interest in Cardano’s ecosystem.
Technically, ADA is trading at $0.70. It’s above the 20-day exponential moving average at $0.6764 and the simple moving average at $0.6640. These levels now act as short-term support.Short-term moving averages suggest a buy signal, but longer-term indicators are still bearish.
Key momentum indicators are mixed but lean positive. The relative strength index is at 56.7, in neutral territory. the moving average convergence divergence at 0.0118 shows bullish signs. If ADA breaks above $0.74, it could rise to $0.80. If it falls below $0.66, it may return to $0.61.
Cardano’s roadmap could be a major catalyst. Founder Charles Hoskinson said the project is “playing very aggressively with Bitcoin DeFi.” The goal is to become the go-to platform for Bitcoin-based decentralized finance. Plans for a Bitcoin bridge and Lace wallet integration could open new liquidity flows.
speculation around ADA spot exchange-traded funds has also increased. Canary Capital and Grayscale’s applications are under review. The SEC is expected to make a decision by May 29. with the appointment of Paul Atkins as SEC chair, optimism has grown.
