Chainlink (LINK) Continues To Witness More Development Activity Than Any Other ERC-20 Project: Santiment
The decentralized oracle network Chainlink (LINK) continues to outpace all other ERC-20 projects in terms of development activity, according to the crypto analytics firm Santiment.
Santiment notes on the social media platform X that Chainlink registered 624.17 notable GitHub events in the past 30 days, more than double the number of the second-ranked project, Ethereum (ETH), which clocked 298.8.
The oracle project also topped the list in June and August.
The decentralized finance (DeFi) protocol Synthetix (SNX) came in third with 289.93 notable GitHub events.
Source: Santiment/X
An ERC-20 project is a standard that developers use to issue tokens on the Ethereum blockchain and virtual machine.
Santiment notes that it doesn’t count routine updates and utilizes a “better methodology” to collect data for GitHub events based on a “backtested process.”
The analytics firm has previously said that heavy development activity centered around a crypto project indicates developers believe in the protocol. Development activity also suggests that the project is less likely to be an exit scam.
LINK is trading at $11.39 at time of writing. The 18th-ranked crypto asset by market cap is up 1.6% in the past 24 hours.
ETH is trading at $2,575 at time of writing and is up nearly 4% in the past day.
Synthetix’s native asset, SNX, is trading at $1.58 at time of writing. The 130th-ranked crypto asset by market cap is up more than 6% in the last 24 hours.
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