CandleFocus Derivatives Protocol Synthetix (SNX) Leads the DeFi Sector in Recent Development Activity: Santiment
2024-10-18
Author: Content Editor
According to crypto analytics firm Santiment, Synthetix (SNX) has seen more development activity than any other project in the decentralized finance (DeFi) sector in the past 30 days. Synthetix aims to provide liquidity for user-facing DeFi projects and has had 264.57 notable GitHub events, compared to the second-most-developed project, dYdX, which had 218.33 events. Lido DAO, a liquid staking service for Ethereum, ranked third. Santiment believes heavy development activity indicates that developers believe in the protocol and reduces the likelihood of an exit scam. Synthetix's token, SNX, is currently trading at $1.43 and has seen a 3% decrease in the past 24 hours.
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