Chainlink climbs as Hedera tops developer activity leaderboard

As a crypto investor with experience in the market, I find the recent surge in developer activity for Chainlink intriguing. According to Santiment’s data, Chainlink moved up to the second spot in terms of GitHub events, just behind Hedera. Although Hedera continues to lead, this trend is noteworthy as it indicates a strong focus on network development for Chainlink.

In June, there was a significant increase in developer engagement with Chainlink, pushing the decentralized oracle network into the number two position behind Hedera, based on data from market analysis firm Santiment.

Based on Santiment’s analysis, I found that Hedera was the leading crypto project in terms of GitHub activity. However, my investigation of Chainlink’s GitHub repository revealed an impressive surge in the number of events within the past 30 days, propelling the project into the 2nd position.

Chainlink’s deloper activity spiked in June

As a researcher, I’d like to share that according to Santiment’s recent post on X, dated July 1, the following are the top 10 projects based on the number of GitHub events that occurred during the month of June.

The ranking is determined by adding up unique development actions and averaging the daily totals over a 30-day period to create a leaderboard.

Hedera currently holds the top spot with 759 GitHub events, while Chainlink on Ethereum follows closely behind with a count of 526 events.

Over the past thirty days, there have been 481 optimistic events recorded, which ranks third. Following closely behind in fourth place with 434 events is Internet Computer. The remaining top ten spots are occupied by Cardano with 429 events, Status with 425, Cosmos with 406, ZKsync with 387, Starknet with 371, and Aptos with 368 events.

🧑‍💻 Here are crypto’s top coins by development frequency. Hedera remains at the top spot, with Chainlink sliding into the #2 position.

The below list is sorted by counting any non-redundant activity from a project, and averaging this daily activity over the past 30 days. Arrows…

— Santiment (@santimentfeed) July 1, 2024

How did these coins perform this past month?

In contrast to the developer activity rankings for the leading cryptocurrencies in June, these projects showed different market trends. Apart from Starknet and ZKsync, which experienced significant price swings following their airdrops, the other coins saw declines as the wider crypto market took a downturn over the past month.

In June, HBAR experienced a decline of 25%, whereas LINK, OP, ICP, and ADA finished the month with decreases of 22%, 28%, 32%, and 10% respectively. The Cosmos Hub token lost 19% over the past 30 days, while Aptos saw a drop of 22%.

In spite of the current situation, the significant number of developer engagements indicates thriving network construction for these initiatives. This observation from Santiment implies the possibility of expansion in product scope and increased user engagement as well.

Last week, the Chainlink team shared some exciting news about the adoption of their services. According to the announcement, a total of 12 integrations took place for six different Chainlink offerings across eight distinct blockchain networks. Among these were Arbitrum, Avalanche, Basis, BNB Chain, Ethereum, and Polygon.

One of these integrations is Chainlink Data Streams launch on Avalanche.

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2024-07-01 21:38