Chainlink Dominates DeFi Development Activity

The decentralized oracle network Chainlink (LINK) continues to dominate crypto’s decentralized finance (DeFi) sector in terms of development activity, according to the analytics firm Santiment.

Santiment notes in a new post on the social media platform X that Chainlink registered 363.73 notable GitHub events in the past 30 days.

This figure far exceeds the second-ranked DeFi project, DeepBook Protocol (DEEP), which clocked 193.57 events. The DeepBook project is a decentralized central limit order book (CLOB), facilitating buy and sell orders between traders by recording bids and offers.

Third on the list is DeFiChain (DFI), a layer-1 protocol specifically designed for decentralized finance apps, which registered 152 notable GitHub events in the past month.

> Source: Santiment/X

Chainlink, DeepBook, and DeFiChain also occupied the top three spots on the list last month as well.

Santiment emphasizes that it doesn’t count routine updates and employs a “better methodology” to collect data for GitHub events based on a “backtested process.”

The analytics firm has previously stated that significant development activity surrounding a crypto project is a positive sign that developers believe in the protocol’s potential success, and it also reduces the likelihood of the project being an exit scam.

LINK is trading at $12.83 at the time of writing, with the 17th-ranked crypto asset by market cap down more than 2% in the past 24 hours.

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