TL;DR
- Some NFT-related cryptocurrencies have shown notable development activity in the last month.
- Despite strong market performances, sector leaders by market cap like Internet Computer (ICP) and Artificial Superintelligence Alliance (FET) were not included in the top 10 list.
The Top Performers
Non-fungible tokens (NFTs) and cryptocurrencies related to them were one of the main trends during the crypto bull run of 2021. Despite the diminishing interest, many of those coins are still present, while their total market capitalization is over $30 billion (CoinGecko’s data).
The crypto market intelligence platform Santiment recently ranked the top 10 NFT-related cryptocurrencies in terms of “notable development activity” on a monthly scale. Decentraland (MANA) is the leader with a score of 145.77.
The token, used to purchase goods and services within the Decentraland ecosystem, had its glory days at the end of 2021. Back then, it reached an all-time high (ATH) price of over $5, while currently, it trades at around $0.33.
Flow (FLOW) takes second place in the ranking with a score of 140.7, while Metaplex (MPLX) comes third with 20.03. The popular gaming tokens Axie Infinity (AXS) and Enjin Coin (ENJ) round out the top five.
Another well-known cryptocurrency finding a spot at the bottom of the ranking is The Sandbox (SAND). Similar to MANA, it witnessed a bull run in November 2021, with its valuation peaking at more than $7. As of the moment, SAND is worth $0.31, representing a whopping 95% decline compared to the ATH.
The Missing Ones
It is worth mentioning that none of the five largest NFT-related cryptocurrencies in terms of market capitalization – Internet Computer (ICP), Artificial Superintelligence Alliance (FET), Render (RENDER), Immutable (IMX), and Floki Inu (FLOKI) – made it to the aforementioned list.
ICP performed quite well in the past year, witnessing a price increase of over 130%, whereas FET hit an ATH of $3.27 in March 2024.
RENDER’s valuation also reached a peak earlier this year. In January, the token caught the eye of the crypto exchange Coinbase, which added it to its “roadmap” section. The price reacted positively to that support, jumping even higher following a subsequent official listing from the company in the following weeks.
For its part, IMX’s valuation is up 110% yearly, whereas FLOKI has exploded by a staggering 715% for the same period.
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