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Cryptocurrency News Articles

MultiversX (EGLD) Flips Decentraland (MANA) to Become Top Crypto Gaming Project by Development Activity

Jun 09, 2024 at 08:00 am

A layer-1 blockchain passed the Ethereum (ETH)-based virtual reality platform Decentraland (MANA) to become the top crypto gaming project

MultiversX (EGLD) Flips Decentraland (MANA) to Become Top Crypto Gaming Project by Development Activity

The layer-1 blockchain MultiversX (EGLD) has surpassed the Ethereum (ETH)-based virtual reality platform Decentraland (MANA) to become the top crypto gaming project in terms of development activity, according to data from the analytics platform Santiment.

Santiment notes that MultiversX, formerly known as Elrond, registered 236.93 notable GitHub events, compared to 150.4 events for Decentraland.

The non-fungible token (NFT) layer-2 scaling solution Immutable X (IMX) ranked third with 77.4 GitHub events, and the Ethereum sidechain Skale Network (SKL) clocked in at fourth with 42.6.

According to Santiment, it doesn’t count routine updates and uses a “better methodology” to collect data for GitHub events, which is a measure of development activity, based on a “backtested process.”

The analytics firm has noted in the past that heavy development activity centered around a crypto project is a positive indication that could mean that the developers believe the protocol will be successful. It also indicates that the project is less likely to be an exit scam.

MultiversX is a distributed, proof-of-stake blockchain network that is decentralized via more than 3,000 nodes. The project aims to help developers build next-gen applications.

The project’s native token, EGLD, is currently trading at $36.04. The 103rd-ranked crypto asset by market cap is down more than 7.5% in the past 24 hours and more than 10% in the past month.

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