Developers build most cryptocurrencies publicly with open source software using GitHub. This provides investors with valuable indicators of what is happening in the technical space of their favorite projects. In addition, it makes it possible for them to follow development activities.
Best cryptocurrency on GitHub: Bitcoin
It is possible to gather valuable insights from GitHub metrics to increase the fundamental analysis of cryptocurrency investing. In this regard, we aggregated results shared by developer Lukas Masuch in a GitHub repository, ranking 48 projects in the ‘Cryptocurrencies’ category, to find out which are the top five founders according to Masuch’s index. Lukas Masuch ranks all projects based on a project quality score calculated based on various metrics he automatically collects from GitHub and different package managers.
Top 5 cryptocurrencies. Source: Lukas Masuch @ GitHubTop marks go to Bitcoin (BTC), the leading cryptocurrency by market cap. cryptokoin.com As you can see from , this is not surprising at all. Because Bitcoin is the open source software responsible for creating this industry and all the other projects that have risen in the last 15 years. According to Masuch’s methodology, Bitcoin scores 46, with more than 100,000 stars given by GitHub users as an indication that they like the open-source project. Interestingly, at the time of writing, Bitcoin’s total market cap is around $510.40 billion. This means a value of $5,104 for each star in BTC.
Other projects following Bitcoin in development activity
Cosmos (ATM), a cross-chain cryptocurrency, receives 43 points. Thus, the altcoin ranks second with 22,000 stars. Cosmos currently has a market value of $2.35 billion. Considering this situation, the ATM has $106 for each star. Stellar (XLM) ranks third with 36 points and 8,500 stars. With XLM’s market cap of $3.54 billion, it generates $417 for each star.
Specifically, the higher the result in the ‘market cap/stars’ section, the more overbought a cryptocurrency is according to this market indicator. Algorand (ALGO) received 35 points with 2,900 stars, placing it above fifth-place XRPL (XRP) with 34 points. However, XRPL has a higher number of stars (6,900). This shows that other measurements are also taken into account when evaluating each project.
ALGO has a market value of $709.36 million. This works out to around $244 per star. The software developed by Ripple, which has a market value of $ 25.44 billion, is the second ‘most expensive’ cryptocurrency among the top five founders with $ 3,687 per star.
