As an experienced analyst, I’ve been closely monitoring the developments in the NFT market over the past few years. Based on recent data from Santiment, Decentraland (MANA) is currently leading the pack when it comes to development activity among NFT-linked tokens. This is a significant achievement and a positive sign for Decentraland’s future growth prospects.
TL;DR
- Santiment reports that Decentraland (MANA) leads in development activity among NFT-linked tokens.
Although interest is returning, assets like Axie Infinity (AXS) remain well below their historical peak values, highlighting the ongoing volatility in the NFT market.
Here are the Leaders
In more simplified terms: NFTs and associated cryptocurrencies gained significant traction a couple of years back. However, during the 2022-2023 market downturn, their appeal waned. Lately, there’s been renewed interest in these digital assets from industry players.
The crypto market intelligence platform – Santiment – outlined the top 10 NFT-linked tokens in terms of development activity in the last 30 days. Decentraland (MANA) leads the ranking with a ratio of 267.57. The second place belongs to Flow (FLOW) with 234.7, while Metaplex (MPLX) is third with 40.43.
In the previous 24 hours, Enjin Coin (ENJ) experienced a significant surge in trading volume with a value of 14.97, coming in second place. The Sandbox (SAND) completes the top five with a trading volume of 14.9.
The Bottom of the List
As a researcher studying the top cryptocurrencies by market capitalization, I’ve come across an intriguing observation. The sixth position is occupied by a relatively unknown digital currency, Aavegotchi (GHST). However, when it comes to the asset in seventh place, things change significantly. This is none other than Axie Infinity (AXS), the governance token of its namesake gaming ecosystem.
Among all coins in its specific niche, AXS enjoys significant popularity, boasting a market capitalization close to $1 billion. However, it falls short of its peak in November 2021 when its market cap exceeded $10 billion and the price peaked at around $160.
Among the NFT-related cryptocurrencies tracked by Santiment, Monavale (MONA), NFTX (NFTX), and Punk (PUNK) currently occupy the bottom positions in their ranking.
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2024-05-18 18:04