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Chainlink (LINK) leads development activity in the crypto sector, according to Santiment
Chainlink (LINK) leads all other crypto projects with its high development activity, as reported by the analysis company Santiment. With an average of 451.23 notable GitHub events in the last 30 days, Chainlink is at the top. Cardano (ADA) and Status (SNT) take second and third place. Santiment highlights that high development activity is a positive sign of a project's success and does not indicate an exit scam. LINK is currently trading at $18.31. Find out more on The Daily Hodl.
Chainlink (LINK) leads development activity in the crypto sector, according to Santiment
Decentralized oracle network Chainlink (LINK) leads all other cryptocurrency projects in terms of recent development activity, according to analytics firm Santiment. Santiment notes that Chainlink is at the top with an average of 451.23 notable GitHub events over the past 30 days.
Chainlink is a unique project because it acts as a bridge between smart contracts and the real world. It allows smart contracts access to data outside the blockchain by bringing external data (such as price information or weather data) onto the blockchain. This makes Chainlink an important part of the DeFi (Decentralized Finance) movement.
Second-place platform Cardano (ADA) recorded 444.7 events, while decentralized finance and communications provider Status (SNT) took third place with 434.5 events. Status aims to offer users a secure messaging app, crypto wallet and Web3 browser via an open source, peer-to-peer protocol and end-to-end encryption.
Optimism (OP), a Layer 2 solution for Ethereum (ETH) scaling, took fourth place with 411 notable events, and decentralized public network Hedera (HBAR) came in fifth place with 378.73 events.
Santiment says everyday updates won't be counted and a "better methodology" will be used to collect data for GitHub events based on a "back-tested" process.
The analytics firm has previously noted that significant development activity around a cryptocurrency project is a positive sign and can indicate that developers believe the protocol will be successful. It also indicates that the project is less likely to be an exit scam.
Chainlink (LINK) is trading at $18.31 at the time of publishing the article. The cryptocurrency ranks 15th by market capitalization, registering a decline of 1.31% in the last 24 hours.
Tabel:
| rank | Cryptocurrency | GitHub Events |
|---|---|---|
| 1 | Chainlink (LINK) | 451.23 |
| 2 | Cardano (ADA) | 444.7 |
| 3 | Status (SNT) | 434.5 |
| 4 | Optimism (OP) | 411 |
| 5 | Hedera (HBAR) | 378.73 |
It is worth noting that GitHub activity is not a definitive measure of the success of a cryptocurrency project. There are many other factors to consider, such as enterprise and user acceptance and adoption, the functionality and security of the protocol, and the regulatory environment. Nevertheless, a high level of development activity can be an indication that a project is being seriously pursued by developers.