Crypto analytics platform Santiment has published a ranking of the top 10 DeFi projects by monthly development activity.

- Synthetix Network took first place with an index of 266.57. The price of the SNX token has increased by 5% over the past 30 days and is around $1.40.

- dydx (DYDX) took second place with an index of 170.93, despite a price drop of 15% over the month.

- Lido DAO Token (LDO) and Injective (INJ) took third and fourth places, respectively.

- Osmosis (OSMO) rounds out the top five.

Santiment's methodology takes into account only significant development events, excluding low-value actions. Activity on GitHub is also analyzed to assess the contribution of developers to the ecosystem.