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

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.

🧑‍💻 Here are crypto’s top ERC-20 coins by development activity. Directional indicators represent each project’s ranking positioning since last month:

➡️ 1) @chainlink $LINK 🥇
📈 2) @ethereum $ETH 🥈
📈 3) @synthetix_io $SNX 🥉
➡️ 4) #susd $SUSD
📉 5) @ethstatus $SNT
➡️ 6)… pic.twitter.com/D7DHf0OFhk

— Santiment (@santimentfeed) September 20, 2024

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.”

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