Chainlink has emerged as the top DeFi project in terms of development activity, with over 311 recorded activities in the past month. This uptick in development aligns with Bitwise Asset Management's recent filing for a Chainlink ETF with the US SEC, which could boost institutional investment in the cryptocurrency. Chainlink's price is currently consolidating between $21.32 and $27.14, with a potential breakout on the horizon. The ecosystem has been strengthened by the Staking v0.2 upgrade and partnerships with Solv Protocol and SBI Group. If approved, the ETF would provide direct exposure to LINK, appealing to both institutional and retail investors, and signaling potential growth for Chainlink.