- Decentraland led the NFT project sector in development activity, FET was ranked fifth
- Supply Distribution Trends Revealed Bullish Signals for FET
Decentraland (MANA) has seen the highest development activity among NFT projects over the past month. It outperformed Flow (FLOW) and easily outpaced the Artificial Intelligence Alliance (FET). In fact, the latter has seen an increase in development activity over the past month, moving up the ranks.
Source: Santiment Insights
The NFT market ended 2024 with total sales volume up 1.1% from its 2023 volume. Nearly a tenth of its numbers came in December, with renewed interest in Ethereum ( ETH) and growing enthusiasm for NFT cited as causes.
And yet, major players have chosen to leave the NFT market. Crypto exchange Kraken and Nike-acquired NFT brand RTFKT are some examples. Analysts predict industry growth in 2025, and an expanded use case for NFTs in physical asset ownership could pave the way for a new phase of adoption.
Decentraland and FET see greater on-chain activity
Source: Santiment
FET is one of the most well-known projects in the AI sector. It is making a foray into the NFT category with the launch of the public beta of Resonate. Additionally, although not directly affiliated with NFTs, the Artificial Superintelligence Alliance’s technology and platforms could intersect with NFT applications and thus drive growth.
The number of daily activities for FET was higher than MANA due to its larger size and popularity. And yet, activity trends have been similar for both tokens over the past three months. The last two days have also been marked by increased activity.
Source: Santiment
The supply distribution for MANA revealed that some of the largest cohorts of holders have been accumulating the token since late November. The 100,000 to 10 million group in particular was an encouraging sight. The increasing number of wallets containing these amounts of MANA indicates accumulation, while the number of shrimp wallets containing 100 MANA or less has decreased.
Source: Santiment
FET has also seen a similar accumulation trend among larger holders. Wallets of 100 to 10 million FET have increased in number since the beginning of December. With planned token burns and deflationary pressure on the Artificial Superintelligence Alliance ecosystem, sustained accumulation indicates stable demand.
Read Decentraland (MANA) Price Forecast 2025-26
Overall, although FET is far behind Decentraland in terms of development activity, its active addresses and accumulation trends point to a more optimistic outlook for the coming weeks and months. And yet, given that Decentraland only holds a third of the market cap, an alternate season could also lead to significant gains for MANA.
