Top 10 NFT-Related Cryptocurrencies by Development Activity: Details
Decentraland (MANA), The Sandbox (SAND), and Axie Infinity (AXS) find place in the top 10 club.
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
Non-fungible tokens (NFTs) and cryptocurrencies related to them were a huge trend a few years ago. During the 2022-2023 bear market, their popularity declined, but recently, they started capturing the attention of industry participants again.
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.
Enjin Coin (ENJ), which witnessed a substantial trading volume increase in the past 24 hours, follows next with 14.97, whereas The Sandbox (SAND) rounds up the top 5 club with 14.9.
The Bottom of the List
While the sixth spot is held by a lesser-known cryptocurrency, Aavegotchi (GHST), this is not the case when observing the asset placed at number seven. This is Axie Infinity (AXS), the governance token of the eponymous gaming universe.
It is among the most-popular coins in the niche, with a current market capitalization of nearly $1 billion. Still, AXS is far from its glory days in November 2021 when its market cap surpassed the $10 billion mar and its price touched $160.
Monavale (MONA), NFTX (NFTX), and Punk (PUNK) are the NFT-related cryptocurrencies at the bottom of Santiment’s ranking.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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