Chainlink Leads ERC-20 Projects in Development Activity, Outpacing Ethereum

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Cryptodnes2024/09/23 09:27

By:Cryptodnes

According to crypto analytics firm Santiment, the decentralized oracle network Chainlink (LINK) leads all ERC-20 projects in development activity.

Over the past 30 days, Chainlink logged 624.17 significant GitHub events, more than twice the amount recorded by Ethereum ( ETH ), which saw 298.8 events.

Chainlink has consistently ranked at the top, having led in both June and August as well. The decentralized finance (DeFi) protocol Synthetix ( SNX ) followed closely behind in third place, with 289.93 GitHub events.

ERC-20 is a widely used standard for issuing tokens on the Ethereum blockchain. Santiment highlights that it excludes routine updates and employs a more refined methodology for gathering GitHub data through a “backtested process.”

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Santiment has previously indicated that high development activity reflects developers’ confidence in a project and reduces the likelihood of it being an exit scam.

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