Decentralized oracle network Chainlink (LINK) continues to outpace all other ERC-20 projects in terms of development activity, according to crypto analytics firm Santiment.
Santiment notes on social media platform X that Chainlink has recorded 624.17 notable GitHub events in the past 30 days, more than double the number of the second-ranked project, Ethereum (ETH), which recorded 298.8.
The Oracle project also topped the list in June and August.
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 does not count routine updates and uses a “better methodology” to collect data for GitHub events based on a “backtested process.”
The analyst firm has previously stated that intense development activity centered around a cryptocurrency project indicates that developers believe in the protocol. Development activity also suggests that the project is less likely to be an exit scam.
At the time of writing, LINK is trading at $11.39. The 18th largest crypto asset by market cap is up 1.6% in the last 24 hours.
ETH is trading at $2,575 at the time of writing and is up nearly 4% over the past day.
Synthetix’s native asset, SNX, is trading at $1.58 at the time of writing. The 130th-ranked crypto asset by market cap is up over 6% in the last 24 hours.
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