In the midst of the 2021 crypto bull run, non-fungible tokens (NFTs) and cryptocurrencies associated with them gained significant attention. Despite a decrease in interest, these coins continue to exist, with a collective market capitalization exceeding $30 billion according to CoinGecko. Among these, some have shown notable development activity in the last month, as highlighted by the crypto market intelligence platform Santiment.
Leading the pack in terms of development activity is Decentraland (MANA), scoring 145.77. MANA, used within the Decentraland ecosystem for transactions, has experienced fluctuations in its price. While it reached an all-time high of over $5 at the end of 2021, it currently trades at around $0.33. Following closely behind is Flow (FLOW) with a score of 140.7, and Metaplex (MPLX) in the third position with 20.03. Axie Infinity (AXS) and Enjin Coin (ENJ) also make it to the top five in the ranking.
Interestingly, some of the prominent NFT-related cryptocurrencies by market cap such as Internet Computer (ICP), Artificial Superintelligence Alliance (FET), Render (RENDER), Immutable (IMX), and Floki Inu (FLOKI) did not feature in the top 10 list based on development activity. Despite ICP’s price rise of over 130% in the past year and FET’s all-time high of $3.27 in March 2024, they did not make the cut. RENDER gained attention when it was added to the roadmap section of the crypto exchange Coinbase, leading to a price surge. IMX’s valuation also saw a yearly increase of 110%, while FLOKI recorded an impressive 715% growth.
The world of NFT-related cryptocurrencies continues to evolve, with some coins showing more development activity than others. While market performance is crucial, the behind-the-scenes work on these projects is equally important for their long-term success. As the crypto landscape shifts, it will be interesting to see how these projects adapt and thrive in the ever-changing digital space.
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