Chainlink up 17% over the weekend, outperforming Ethereum due to daily dev activity
LINK price surges over the weekend along with other altcoins as LINK developer activity has surpassed that of Ethereum
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Santiment on-chain analytics firm has shared the reason why Chainlink gained nearly 17% this weekend.
The 22-ranked cryptocurrency is now changing hands at $18.65, according to CoinMarketCap.
Chainlink Outperforms ETH and BTC in Development Activity
According to the recent tweet published by Santiment, Chainlink has surpassed the second largest crypto platform, Ethereum, in development activity; this can be seen through major updates on Github recently made every day.
According to the chart shared by Santiment, LINK developers have submitted 304 major updates daily.
The chart also shows that the activity of LINK developers was not only higher than that of Ethereum, but also Bitcoin.
🔗🧑💻 #Chain link currently sits at just under $18 after the mild #altcoin revival over the weekend. In particular, we have seen that $LINKdevelopmental activity, measured by significant daily #github updates, is now faster than $ETHdaily activity. https://t.co/ZIk3qCUKPZ pic.twitter.com/AEbAUuaQqU
— Santiment (@santimentfeed) February 7, 2022
LINK is one of the most popular cryptocurrencies lately, along with FTX Token (FTT) and Shiba Inu (SHIB) meme cryptocurrency. Several of these biggest ETH whales actively bought LINK in January and also early February.
Right now, LINK is down 64.80% from its historic peak of $52.88 reached on May 10, 2021.