Ethereum outshines DOT and ADA in developers’ count, thanks to…

ambcrypto.com:

Ahead of the 12 April completion of the Shanghai upgrade, Ethereum [ETH] has taken the mantle as the blockchain with the most active developers in the Layer one (L1) and Layer Two (L2) ecosystems.

Recall that projects like Polkadot [DOT] , and Cardano [ADA] were mostly at the crest of this activity for the last few months.

Realistic or not, here’s ETH’s market cap in BTC terms

The active developers metric, as measured by Token Terminal, tracks the number of GitHub developers engaged in polishing the features of a project.

According to the blockchain data and dApp aggregator, Ethereum had 199 developers, while Polkaodt could only register 172 in second place.

Source: Token Terminal

Apart from the top two, L2 projects including the ones getting hyped as Polygon [MATIC], and Arbitrum [ARB] improved in this regard. However, they remained far behind Ethereum. Meanwhile, as Ethereum ramps up preparations to enable staked Ether [stETH] withdrawal, traders seem to get involved in taking ETH positions. 

According to Glassnode, the options Open Interest (OI) across all exchanges had been increasing since 24 March.  The options OI reveals the total amount of funds dedicated to opening options contracts.

And, at press time, the metric was $7.56 billion. This indicated that traders are increasingly forecasting which direction ETH will head given the blockchain’s forthcoming upgrade.

Source: Glassnode

Furthermore, the Ethereum fear and greed index was 61 out of a possible 100, at the time of writing. The indicator uses price volatility, market volume, and social trend data to assess if an asset is at a fair price.