Cardano Surpasses Ethereum in Core Developer Activity Over Past Year
Cardano (#ADA) has surpassed Ethereum in developer activity over the past year, with 21,439 GitHub commits compared to Ethereum's 20,962. This shift challenges previous criticisms of Cardano as a "ghost chain" and renews interest in its utility.
Key Points
- Cardano's activity spans 12 core projects and 36 total projects with 4,276 GitHub repositories.
- Cardano founder Charles Hoskinson predicts Ethereum will decline by 2040 due to outdated technology and governance issues.
- He recommends Ethereum reassess its accounting model and consensus mechanism for future competitiveness.
ADA Price Analysis
ADA is currently trading at $0.70, near the 0.618 Fibonacci level ($0.6910). A sustained hold above this level may indicate bullish momentum targeting:
- $0.7533 (1 Fibonacci level)
- $0.8509 (1.618 level)
A drop below the 0.618 level could retrace prices towards $0.654 (0.5 Fibonacci level).
ADA Daily Chart | Source: TradingView
The MACD indicator reflects building bullish momentum, with the MACD line crossing above the signal line. However, proximity of the lines suggests caution as momentum may change.