A new report from blockchain analytics firm Santiment highlights which DeFi projects have seen the most developer activity over the past month—and the leaderboard has shifted in unexpected ways.
By analyzing GitHub commits across major open-source protocols, Santiment tracked genuine development momentum while filtering out spam updates. The results reveal Chainlink (LINK) has reclaimed the top spot with a commanding lead, reinforcing its position as one of the most actively developed projects in the space.
The rankings weren’t without surprises. Despite a low market cap and persistent price struggles, DeFiChain (DFI) made a strong showing, ranking third and proving that development doesn’t always mirror market sentiment.
Another standout is DeepBook Protocol (DEEP), which climbed to second place, edging out more established names. Projects like Synthetix (SNX), Lido (LDO), and Injective (INJ) also featured, continuing to attract developer interest.
Here’s a quick look at Santiment’s top 10 DeFi projects by development activity:
The list reflects an evolving DeFi landscape where code commits—not just price charts—tell the real story of ongoing innovation.
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