Crypto analytics provider Santiment has released the top 10 highest developing Ethereum-based project countdown for February. The research focuses on ERC-20 projects that are currently committed to developing on Ethereum.
The fastest-moving projects by development activity include; $GNO @gnosisPM, $SNT @ethstatus, $MANA @decentraland, $UMA @UMAprotocol, $LINK @chainlink, $SKL @SkaleNetwork, $MKR@MarkerDao, $OCEAN @oceanprotocol, $GLM @golemproject, and $SAN @santimentfeed. Every month, Santiment brings forth the ten calculated ERC-20 projects with the top developer activity for the past 30 days.
Currently, the world’s second most popular digital currency is experiencing a bullish trend as it garnered more than a 530% increase in value, crossing an all-time high of over $2,000. This is due to the explosive rise in decentralized finance (DeFi), a subsector of the cryptocurrency industry where entrepreneurs are building automated trading and lending systems atop blockchain networks that do not need intermediaries like banks.
ETH 2.0 Upgrade
The crypto world can’t wait for the launch of the ETH 2.0 upgrade, which would make this platform more efficient, scalable, and swift. These factors offer hope for further bullishness in Ethereum soon. ETH 2.0 comes with the assurance of offering proof of stake and sharding. This would make the platform more secure and significantly more capable of handling a larger number of transactions.
The Top Projects
The decentralized prediction market platform, Omen, developed and maintained by the DXdao and powered by Gnosis’s conditional tokens framework launched on the xDai Ethereum sidechain. A new collaborative grants initiative for Gnosis Safe Apps was also established last month.
Status was the second most developed Ethereum based project with several updates for the open-source mobile dApp browser and messenger. SNT prices reached a three-year high of $0.125 this month. Stratus continues to improve by introducing fun, sticky, private, secure communication.
Virtual metaverse and NFT protocol Decentraland was third in the developer activity list with many features introduced to improve user experiences.
DeFi synthetic asset protocol UMA came in fourth with two main focuses for the month; getting some major protocols out the door and collaborating with BadgerDAO.
At number five was Chainlink, which announced the official main net launch of Off-Chain Reporting (OCR). This significantly improves the data efficiency being computed across Chainlink oracles, reducing operating costs by about 90%. Users can view the progress of the remaining projects and many others using a Sanbase Pro subscription.
