Santiment Report: Decentraland Tops NFT Development Rankings

• Decentraland remains top in development rankings, highlighting platform growth despite a 9.30% weekly price decline.
• Flow secures second in development, maintaining strong activity while facing a 7.20% price drop this week.
• Metaplex ranks third in NFT development, despite a 12.92% weekly price fall and reduced trading volume.

Decentraland (MANA) stands out as the top NFT project in terms of development activity, according to Santiment’s latest data.

However, MANA’s price has dipped to $0.247, showing a 3.77% decrease in the past 24 hours and a more substantial 9.30% decline over the past week. Despite this price pullback, Decentraland’s market capitalization remains at a respectable $459.5 million.

The project has not seen a rise or fall in ranking compared to last month, maintaining its top spot.

Flow and Metaplex Hold Steady Despite Market Turbulence

Flow (FLOW) retains its position as the second most active NFT project in development, according to the Santiment rankings.

Despite its prominent standing, FLOW’s price has fallen to $0.5129, reflecting a 3.24% drop in the last 24 hours and a 7.20% decline over the last week. The project has a circulating supply of 1.5 billion FLOW tokens, with a current market cap of $783.8 million and a 24-hour trading volume of $32.1 million.

FLOW’s steady development presence comes amid fluctuating prices, demonstrating the project’s sustained commitment to enhancing its platform.

Metaplex (MPLX) ranks third on the list of top NFT projects by development activity, but the token’s price has seen notable declines. Currently, MPLX is priced at $0.2454, down 0.98% over the past 24 hours and 12.92% over the last week. The project has a circulating supply of 980 million tokens, with a market cap of $241.3 million and a relatively low trading volume of $649,790 in the past 24 hours.

Despite the price drop, Metaplex’s continued development has kept it in the top three NFT projects, emphasizing its ongoing technical growth.

Enjin Coin (ENJ) comes in at fourth in development activity, showing positive movement in its ranking, but its price has dropped to $0.1316. The token saw a 1.63% price decline in the last 24 hours and a 7.92% decrease over the last week. Enjin has a market cap of $223.9 million, with 1.7 billion ENJ tokens in circulation and a 24-hour trading volume of $19.9 million.

Axie Infinity and Other Top Projects Face Price Challenges

Axie Infinity (AXS), ranked fifth, experienced a significant price drop of 5.25% in the past 24 hours and 12.53% over the last seven days. The current price of AXS is $4.19, with a market cap of $624.6 million and a 24-hour trading volume of $33.7 million. Although Axie Infinity’s ranking in development has decreased, the project continues to remain a key player in the NFT space.

Aavegotchi (GHST) holds the sixth position, with a price of $0.8147. The project saw a 4.72% decline in the last 24 hours and 12.24% over the past week. The circulating supply is 51 million GHST, and the project has a market cap of $41.6 million. 

The Sandbox (SAND), ranked seventh, is currently priced at $0.2337, with a circulating supply of 2.3 billion SAND tokens. Despite its stable ranking, SAND has experienced a 3.78% drop in the last 24 hours and 8.78% in the past seven days.

Monavale (MONA), Dypius (DYP), and Phantasma (SOUL) are also listed in the top 10. MONA saw an 8.05% decline over the past day, while DYP dropped 1.19%. Phantasma (SOUL) is one of the few projects that showed price growth over the past week, with a 0.87% increase, although its 24-hour change remains negative at 0.93%.