The decentralized oracle network Chainlink (LINK) continues to dominate crypto’s decentralized finance (DeFi) sector in terms of development activity, according to the analytics firm Santiment.
Santiment notes in a new post on the social media platform X that Chainlink registered 363.73 notable GitHub events in the past 30 days.
The figure far exceeds the second-ranked DeFi project, DeepBook Protocol (DEEP), which clocked 193.57 events. The DeepBook project is a decentralized central limit order book (CLOB), which is what exchanges use to facilitate buying and selling between traders by recording bids and offers.
Third on the list is DeFiChain (DFI), a layer-1 protocol designed specifically for decentralized finance apps. The project registered 152 notable GitHub events in the past month.
Source: Santiment/X
Chainlink, DeepBook and DeFiChain also occupied the top three spots on the list last month as well.
Santiment notes that it doesn’t count routine updates and uses 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 is a positive indication that could mean that the developers believe the protocol will be successful. It also indicates that the project is less likely to be an exit scam.
LINK is trading at $12.83 at time of writing. The 17th-ranked crypto asset by market cap is down more than 2% in the past 24 hours.
Generated Image: Midjourney
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