Chainlink Dominates Crypto Development Landscape, Outpacing Cardano and Ethereum

Is Chainlink Dominating the Crypto Development Landscape?

According to the analytics firm Santiment, Chainlink (LINK), a decentralized oracle network, is outpacing all other crypto projects in terms of recent development activity. Over the past 30 days, Chainlink has recorded an average of 451.23 notable GitHub events, putting it firmly at the top of the list.

Cardano Trails Close Behind

Trailing behind Chainlink is the smart contract platform Cardano (ADA), which has clocked in 444.7 events. Status (SNT), aiming to provide users with a secure messaging app, crypto wallet, and web3 browser, takes the third spot with 434.5 events.

Ethereum's Layer-2 Solution Ranks High

Ethereum's (ETH) layer-2 scaling solution, Optimism (OP), ranks fourth with 411 notable events. The decentralized public network Hedera (HBAR) follows closely behind at fifth with 378.73 events.

Santiment's Data Methodology

Santiment emphasizes that it employs a "better methodology" to collect data for GitHub events, excluding routine updates and relying on a "backtested process." The firm believes that substantial development activity around a crypto project is a positive indicator, suggesting that developers have faith in its potential success and reducing the likelihood of it being an exit scam.

LINK's Market Performance

At the time of writing, LINK is trading at $18.31, down 1.31% in the past 24 hours. Despite this dip, LINK remains the 15th-ranked crypto asset by market cap.

Disclaimer: This article is for informational purposes only and should not be construed as investment advice.