- •Chainlink led all DeFi projects in October with a development activity score of 491.67, maintaining strong dominance in the blockchain sector.
- •DeepBook Protocol, DeFiChain, FOX Token, and Lido DAO showed notable developer engagement, signaling healthy competition in mid-tier DeFi projects.
- •LINK trades between $20 and $23 as technical indicators point to tightening volatility and a possible breakout in the coming sessions.
Chainlink has once again emerged as the most active project in decentralized finance, according to Santiment’s latest October data. The network achieved a development activity score of 491.67, confirming its strong presence in the blockchain ecosystem. The ranking measures GitHub commits and developer engagement across major DeFi projects, reflecting consistent innovation within the Chainlink network.
Following Chainlink, DeepBook Protocol recorded a score of 214.6, signaling notable growth in its development community. DeFiChain secured the next position with 156.3 points, maintaining a steady performance. Mid-tier competition intensified as FOX Token and Lido DAO moved upward in the rankings, indicating broader engagement in DeFi development. Babylon also remained among the top contenders with a score of 62.3, though it slipped slightly compared to the previous month. New entrants Injective, Centrifuge, dYdX, and Curve expanded the top ten, highlighting a dynamic shift in the sector’s developer landscape.
LINK Consolidates in Volatile Trading Zone
Despite Chainlink’s development leadership, its native token, LINK, has shown increased volatility. The price declined by seven percent over the past 24 hours, while trading volume rose five percent, suggesting heightened market activity. On the daily chart, LINK continues to consolidate within a descending channel pattern that has shaped recent trading sessions.
The upper boundary near $23.7 remains a key resistance point, while $20.3 provides essential support. Analysts note that a move above the resistance level could signal renewed bullish momentum, potentially pushing LINK toward $26 or even $30. However, a drop below $20 could open the path to $17.5. Bollinger Bands show tightening volatility, implying that a significant move may occur soon.
The MACD reflects a slightly bearish tone but hints at possible convergence, while the Chaikin Money Flow suggests mild capital outflows. Consequently, a recovery in Bitcoin’s price could lift LINK among the first DeFi assets to rebound, supported by its robust infrastructure and expanding use in blockchain data services.