Markets across crypto are decidedly red, but you wouldn’t know it by looking at the people actually building the infrastructure. A fresh snapshot of May 2026 development activity from the Santiment update, shared by Everstake, shows Ethereum once again sitting at the top of the leaderboard, with a lead over other ecosystems that hasn’t meaningfully narrowed. That kind of persistence in builder activity is easy to dismiss during a bull market. In a month when asset prices are sliding, it becomes harder to ignore.