Cryptocurrency Evaluation Overview

In the crypto domain, there are varied assessments to determine the performance and potential of cryptocurrencies beyond just their token prices. It's important, especially for long-term altcoin investors, to look beyond the surface and consider other factors. The growth potential of a network and the identification of promising projects also play a crucial role in indicating potential future prices.

Unveiling Metrics beyond Token Prices

The concept of what comprises a ‘good’ cryptocurrency may seem subjective at first glance, especially within the crypto sphere. However, upon closer inspection, multiple factors come into play. These include metrics such as transaction capacity per second, active user count, and protocol revenue, in addition to scrutinizing developer activity. Beyond mere promises, a lack of active developer engagement within a protocol or network could signify long-term risks.

Recently published evaluations from Santiment highlight that Chainlink, Cardano, and Polkadot stand out in terms of development activities. These platforms have shown significant GitHub activity in the previous month, leading the pack in terms of ongoing development initiatives.

Insight into GitHub

GitHub functions as a global repository service widely used by software developers to collaborate on open-source projects. It holds indispensable value for open-source initiatives, allowing members to suggest and implement code enhancements. However, it’s essential to note that not all projects exhibiting high GitHub activity inevitably experience rapid growth and advancement. As an example, a few years back, the Stellar team distributed tokens to individuals who connected their GitHub accounts to the project page and provided ideas for improvement.

When focusing on Cardano, high developer engagement doesn’t necessarily equate to a surge in active user numbers on the network or the emergence of popular protocols. Hence, assessing developer activity requires a comprehensive outlook.

Predictions on LINK, ADA, and DOT Price Movements

Despite being somewhat overlooked in the current cycle, ADA Coin still holds promise according to crypto analyst Lark Davis. He suggests that an increase in Total Value Locked (TVL) and network adoption could result in gains during this cycle.

Regarding Polkadot, trader XO views the $6-8 price range as a buying opportunity and anticipates potential selling points at $12 and $20. Finally, for Chainlink, Poppe sets a target price of $34. Although the LINK Coin resonating below $10 might have been disheartening, Poppe consistently highlighted these figures as significant long-term investment opportunities, a viewpoint we shared impartially. Recently, LINK Coin surged from a low of $4.76 (amidst Poppe’s heightened concerns in mid-2023) to $22.89 in recent days, indicating a substantial uptick of approximately 480 percent.