According to analytics firm Santiment, the decentralised oracle network Chainlink (LINK) has emerged as the leader in recent development activity within the cryptocurrency space.
Santiment’s data reveals that Chainlink has recorded an average of 451.23 notable GitHub events over the past month, placing it at the forefront of all crypto projects.
Following closely behind, the smart contract platform Cardano (ADA) occupies the second position with 444.7 events, while Status (SNT), which offers users a secure messaging app, crypto wallet, and web3 browser, ranks third with 434.5 events.
In the fourth position is Ethereum’s (ETH) layer-2 scaling solution, Optimism (OP), which has seen 411 notable events, followed by the decentralised public network Hedera (HBAR) at fifth place with 378.73 events.
Santiment emphasises that routine updates are not included in their assessment and employs a refined methodology to gather GitHub event data, which has been backtested for accuracy.
The firm has previously highlighted that extensive development activity around a crypto project is a positive sign, indicating confidence from developers in the protocol’s success and reducing the likelihood of it being an exit scam.
Currently, LINK is trading at $18.31, experiencing a 1.31% decrease in the last 24 hours. Despite this slight dip, Chainlink remains the 15th-ranked cryptocurrency by market capitalization.