According to new data from Santiment, developers are renewing their interest in NFT-focused tokens after a spike in developmental volume.
Over the past month, some projects have risen and some others have fallen behind. However, the top 3 were Decentraland, Flow Blockchain, and Metaplex.
“Directional indicators represent each project's ascension or descension in rankings since last month:
📈1) @decentraland $MANA 🥇
📉2) @flow_blockchain $FLOW 🥈
➡️3) @metaplex $MPLX 🥉
➡️4) @axieinfinity $AXS
➡️5) @enjin $ENJ
📈6) @aavegotchi $GHST
📉7) @thesandbox $SAND
📈8) @looksrare $LOOKS
📈9) #monavale $MONA
📈10) @yield $DYP” Santiment shared on Twitter.
Decentraland: Hope in the Midst of Bearish Sessions
Among the NFT-focused tokens, Decentraland continues to maintain its position as the number one in terms of development activities. However, it is currently 2nd in this metric after a slight decline to 1,569.
According to data from CoinMarketCap, this token fell by more than 8% in the past seven days, with the price declining from $0.37 to $0.32.
The only price metric with a positive increase for Decentraland is the monthly chart, with a 6% increase. Nevertheless, there's a 24% decline in the last 90 days, and even the YTD data shows 37% depreciation from this token.
In the midst of all these losses, the investors are still trading MANA, judging from the $46 million trade volume and $646 million market cap.
Flow Blockchain (FLOW)
At the time of writing, FLOW had positive price growth in the last 24 hours, weeks, and months. It only had negative depreciation in the last 3 months and YTD.
There was a 3% growth in the last 24 hours, reaching as high as $0.65, with the market cap getting closer to $1 billion. Moreover, it currently has a trade volume of more than $56 million.
Similar to the daily chart, the monthly data shows a 3% growth, with the market valuation exceeding $1 billion. Nevertheless, it is important to examine FLOW losses over the past few weeks, as the price reached a low of $0.46 after a peak performance of $0.67.
Santiment published their data on Twitter on 22nd July. But by the 24th, FLOW took the first position from Decentraland in terms of Github developmental value, increasing to as much as 1,705.
Metaplex (MPLX)
Metaplex (MPLX) takes the third position in terms of GitHub development activity, with 157, although this is still more than a 60% decline in the last 30 days. Nevertheless, it is still above other major tokens such as Axie Infinity, The Sandbox, and Apecoin in this metric.
According to CoinMarketCap, this token has also performed well in the last seven days. Its price has increased by over 10%, rising from less than $0.32 to over $0.34. Moreover, its market valuation has also climbed from $77 million to reach a peak of $97 million.
Besides Decentraland, Flow Blockchain, and Metaplex, some other projects are also doing their best with development activity. Axie Infinity comes 4th while Enjin comes 5th, with others showing positive signs of a potential increase.