According to cryptocurrency analytics firm Santiment, decentralized oracle network Chainlink (LINK) continues to outpace all other ERC-20 projects in terms of development activity.
Santiment reported on social media platform X that Chainlink has registered 624.17 notable GitHub events in the last 30 days, more than double the number of second-place project Ethereum (ETH) with 298.8.
The Oracle project also topped the list in June and August.
Decentralized finance (DeFi) protocol Synthetix (SNX) ranked third with 289.93 notable GitHub events.
The ERC-20 project is a standard that developers use to issue tokens on the Ethereum blockchain and virtual machines.
Santiment notes that it uses “better methodologies” to collect data on GitHub events based on “backtested processes” rather than counting routine updates.
The analytics firm has previously said that active development around a crypto project indicates that 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 the time of writing. The 18th largest cryptocurrency by market cap is up 1.6% over the last 24 hours.
At the time of writing, ETH is trading at $2,575, up about 4% over the past day.
Synthetix’s native asset, SNX, is trading at $1.58 at the time of writing. The 130th largest cryptocurrency by market cap is up more than 6% in the last 24 hours.
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