Top Liquid Staking Projects to Watch: EigenCloud, Lido, Babylon, Jito, Pendle, and Others Lead in Development Activity, Showing Their Popularity

A new report from market analyst CryptoDep listed the top liquid staking projects that experienced the most developer activity over the past 30 days. Since most cryptocurrency projects are open-source by nature, it’s easy to track their development activities from GitHub, a Web-based platform that allows developers to manage and store codes related to their software development projects.

Traditionally, projects with active developments show confidence in the medium- and long-term perspective, an indicator of their innovation and potential price growth. The report evaluated the latest performance of liquid staking platforms in terms of development activity on their networks.

Top Liquid Staking Projects with the Highest Development Activity

EigenCloud (EIGEN)

EigenCloud – formerly known as EigenLayer – a decentralized open-source restaking protocol built on top of Ethereum, is at the top of the list. Based on the data shared by the analyst, EigenCloud is the top liquid staking platform that recorded the highest development activity over the past month. The protocol experienced 83.4 developer activity projects on its liquid staking and restaking ecosystem in the last 30 days. This is an indicator of the network’s advanced offerings and EIGEN’s potential growth.

Lido (LDO) 

Lido, a liquid staking protocol built on Ethereum, takes the second position. With its decentralized liquid staking platform, Lido allows users to stake crypto assets while keeping them liquid. This implies that customers can still use or trade their assets in DeFi while earning staking rewards. Lido witnessed 47.5 developer activity projects on its staking network over the period, highlighting continued innovation and ecosystem expansion.

Babylon (BABY)

Babylon, a revolutionary project that allows Bitcoin holders to earn yield by staking their BTC across various PoS (proof-of-stake) chains, secured third place. The protocol saw 47.3 development activity projects on its staking network.

Jito (JTO)

The data revealed that Jito, a liquid staking project operating on Solana, maintains active development on its network. The project witnessed 14.1 developer activity projects on its protocol during the stated period. Last month, Andreessen Horowitz’s crypto subsidiary invested $50 million in Jito, an indicator of increased confidence in the Solana-based staking platform.

Pendle (PENDLE)

Fifth on the list is Pendle, a DeFi platform designed for staking, trading, payments, and yield optimization. The project experienced 4.93 developer activity projects on its decentralized network.

Other Top Market Performers

According to the report, other liquid staking protocols that saw stable development activity recently include Persistence, EtherFi, RocketPool, FRAX, and Puffer.

Persistence (XPRT) had a development score of 4.41. Etherfi (ETHFI) reported a development index of 3.81. RocketPool (RPL) registered a growth score of 2.77. Frax (FRAX) registered a growth rate of 2.33. Lastly, at 1.43, Puffer (PUFFER) appeared in this list of top staking projects with outstanding development activity.