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Ethereum (ETH) Network Buzz Fuels Top ERC20 Tokens: Chainlink (LINK) and Status (SNT) Lead in Development Activity

Felix Küster

May 23, 2024

As Ethereum’s network continues to rise, with May prices blossoming and the SEC’s approval of the first ETF looming, the ERC20 token space is witnessing notable development activity. According to a recent tweet by Santiment, several ERC20-related coins have shown notable daily development activity rates over the past 30 days.

Top ERC20 Tokens by Development Activity

• Chainlink ($LINK)
• Status ($SNT)
• Ethereum ($ETH)
• Decentraland ($MANA)

Source: Santiment – Start using it today

• Audius ($AUDIO)
• sUSD ($SUSD)
• Synthetix ($SNX)
• Holo ($HOT)
• API3 ($API3)
• The Graph ($GRT)

Chainlink, an oracle network, leads the pack, followed closely by Status, a mobile operating system for Ethereum, and Ethereum itself. Decentraland, a virtual reality platform powered by the Ethereum blockchain, and Audius, a music streaming platform, round out the top five.

Other notable ERC20 tokens on the list include sUSD, a stablecoin issued by the Synthetix protocol; Synthetix, a derivatives liquidity protocol; Holo, a peer-to-peer distributed platform for hosting decentralized applications; API3, a protocol for APIs; and The Graph, an indexing protocol for querying networks like Ethereum and IPFS.

The high development activity rates of these ERC20 tokens demonstrate the growing interest and commitment of their respective teams to enhance their platforms and offerings. As Ethereum continues to gain traction, the ERC20 token space is likely to benefit from the increased attention and potential adoption.

Read more: Top Analyst Uses Unique Model to Predict Ripple’s XRP Could Reach $66: Here’s His Outlook

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