A cutting-edge blockchain technology has surpassed Decentraland, a virtual reality platform based on Ethereum (ETH), to become the leading cryptocurrency gaming project in terms of development activity, as reported by the analytics platform Santiment.

According to Santiment, MultiversX (EGLD), formerly known as Elrond, has recorded 236.93 significant GitHub events, outperforming Decentraland which had 150.4 events. Coming in third is Immutable X (IMX), a non-fungible token (NFT) layer-2 scaling solution, with 77.4 GitHub events, followed by the Ethereum sidechain Skale Network (SKL) with 42.6 events.

Santiment emphasizes that routine updates are not included in their analysis, using a more refined methodology to gather data on GitHub events through a rigorous “backtested process.”

The analytics firm has previously highlighted that intense development activity surrounding a cryptocurrency project indicates a positive outlook, suggesting that developers have confidence in the project’s success. It also serves as a reassuring sign that the project is less likely to be a fraudulent scheme.

MultiversX is a decentralized proof-of-stake blockchain network operating through over 3,000 nodes, with a primary goal of enabling developers to create cutting-edge applications.

The native token of the project, EGLD, is currently valued at $35.98. Despite its ranking as the 103rd cryptocurrency by market capitalization, it has experienced a decline of more than 7.5% in the last 24 hours and over 10% in the past month.

Stay informed by subscribing to receive email alerts directly to your inbox. For the latest updates, follow us on Twitter, Facebook, and Telegram.

Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors are strongly advised to conduct thorough research before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. It is important to note that all transfers and trades are conducted at the individual’s own risk, with any resulting losses being their responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it serve as an investment advisor. Please be aware that The Daily Hodl engages in affiliate marketing activities.