2024-05-05
In spite of the significant decline in the cryptocurrency market in April, layer-2 networks have displayed remarkable developer activity, indicating a strong belief in these projects despite the decrease in the value of their native tokens.
According to a tweet by Santiment, a crypto data analytics platform, the top ten layer-2 networks were chosen based on their unique GitHub activity in the past 30 days.
Santiment analysts carefully collected the projects' GitHub activities to ensure that only genuine efforts to enhance and innovate were taken into account, filtering out any irrelevant data.
GitHub activity serves as a reliable indicator of a team's active involvement in developing the protocol and can also help identify potential exit scams.
Santiment's analysis revealed that Optimism, an Ethereum-based scaling protocol, emerged as the leading network with the highest developer activity, recording 541.33 commits, which is 146% more than the next project.
However, Optimism's native token, OP, experienced a decline of over 17% in the last 30 days.
Following Optimism is Starknet, a permissionless decentralized zero knowledge-rollup network, with a developer activity of 220.23.
Despite its high activity, Starknet's native token, STRK, lost approximately 36% of its value in April.
Securing the third position is Arbitrum with a developer activity of 110.77, while its native asset, ARB, fell by 32% within the same period.
Cartesi, Immutable X, and Skale Network ranked fourth, fifth, and sixth, respectively, with developer activities of 56.97, 49.07, and 28.07.
Regrettably, their native tokens also experienced significant declines, reaching double digits.
The remaining four projects on the list are MintLayer, a Bitcoin layer-2 sidechain, and Ethereum-based networks Polygon, MetisDAO, and Mantle, with developer activities of 23.53, 20.43, 7.87, and 5.33, respectively.
These projects also suffered notable losses in the value of their native tokens during April.
