- Decentraland led the NFT projects sector in development activity, FET was ranked fifth
- Supply distribution trends revealed bullish signals for FET
Decentraland [MANA] saw the highest development activity among NFT projects over the past month. It surpassed Flow [FLOW] and easily outstripped Artificial Intelligence Alliance [FET]. In fact, the latter saw a hike dev activity over the past month, moving up the ranks.
Source: Santiment Insights
The NFT market ended 2024 with a total sales volume that climbed by 1.1% from its 2023 volume. Nearly a tenth of its figures came in December, with renewed interest in Ethereum [ETH] and growing NFT enthusiasm cited as causes.
And yet, major players have opted to exit the NFT market. Crypto exchange Kraken and Nike-acquired NFT brand RTFKT are some examples. Analysts predict growth for the sector in 2025, and expanded use case for NFTs in physical asset ownership could usher in a new phase of adoption.
Decentraland, FET see greater on-chain activity
Source: Santiment
FET is among the most well-known projects in the AI sector. It forays into the NFT category with the public beta launch for Resonate. Additionally, while not directly affiliated with NFTs, the technology and platforms of the Artificial Superintelligence Alliance could intersect with NFT applications and thereby, foster growth.
The daily activity count for FET was greater than MANA due to its larger size and popularity. And yet, the trends in activity have been similar for both tokens over the past three months. The last two days saw increased activity too.
Source: Santiment
The supply distribution for MANA revealed that some of the larger cohorts of holders have been accumulating the token since late November. The 100k-10 million group in particular was an encouraging sight. The increased number of wallets holding these amounts of MANA indicated accumulation, while the shrimp wallets with 100 or fewer MANA have been falling in number.
Source: Santiment
FET also had a similar accumulation trend among larger holders. Wallets with 100-10 million FET have risen in number since the start of December. With planned token burns and deflationary pressure on the Artificial Superintelligence Alliance ecosystem, sustained accumulation indicated steady demand.
Read Decentraland’s [MANA] Price Prediction 2025-26
Overall, though FET was far behind Decentraland in terms of development activity, its active addresses and accumulation trends pointed towards a more bullish outlook in the coming weeks and months. And yet, since Decentraland has only a third of the market cap, an altseason could lead to large gains for MANA as well.
