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.
[adinserter block="1"]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.
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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