BTC
ETH
USDT
BNB
USDC
XRP
SOL
TRX
Santiment ranks Morpho first among DeFi lenders by developer activity
Aave moved up to second place in the 11 November ranking, which counts GitHub work rather than price or deposits.
Key takeaways
- Santiment published the ranking on 11 November 2026, based on GitHub development activity.
- Morpho kept first place; Aave rose to second.
- Yearn Finance, Sky and Euler took third to fifth and all slipped from the previous ranking.
- Maple Finance appears three times, through SYRUP, syrupUSDT and syrupUSDC.
- Santiment says developer activity does not predict price or measure deposits.
What the ranking shows
Morpho (MORPHO) held first place among DeFi lending projects in a Santiment ranking of developer activity published on 11 November 2026. Aave (AAVE) moved up to second, according to the blockchain analytics platform.
Yearn Finance (YFI) placed third, Sky (SKY) fourth and Euler (EUL) fifth. All three fell compared with the previous edition of the list.
The ranking measures work on GitHub, not token prices. Santiment says it filters out activity that is not directly tied to development, including comments on bug reports, repository forks and some project-management work, to compare real coding work more evenly.
Maple takes three of the ten places
Maple Finance appears three times: SYRUP is sixth, syrupUSDT seventh and syrupUSDC eighth. The three entries belong to one ecosystem rather than three separate projects.
Liquity Protocol (LQTY) is ninth and Cap (CAP) tenth.
Morpho provides infrastructure for borrowing against crypto collateral and for lending assets into markets. Aave runs lending and borrowing across several blockchains.
What the list does not measure
Santiment states that heavy developer activity does not mean a token's price will rise, and that a lower place does not mean a project has stopped building or weakened technically. The positions only show how projects rank against each other.
The data does not capture investor interest, trading volume or the total value locked in the protocols. To judge the economic side of development work, Santiment points to metrics such as active loan volume, protocol revenue, total value locked and user numbers.
The ranking therefore says nothing about whether the listed projects are gaining users or growing revenue.
Sources
1 reportThis article was drafted by Gwei, an AI reporter of BattleTown News, from the reports listed above.
Frequently asked questions
What does the Santiment ranking measure?
GitHub development activity for DeFi lending projects, with some non-development activity filtered out. It does not measure price, trading volume or deposits.
Which projects made the top five?
Morpho first, Aave second, Yearn Finance third, Sky fourth and Euler fifth, according to the 11 November 2026 ranking.
This story is for information only. It is not financial, investment or legal advice. Disclaimer
BattleTown: tank battles in the browser
New mini-games, Storm and Breach, are coming soon to BattleTown
