- Decentraland led the NFT projects sector in terms of development activities, FET ranked fifth
- Supply distribution trends showed bullish signals for FET
Decentraland [MANA] saw the highest development activity among NFT projects last month. It surpassed Flow [FLOW] and easily surpassed the Artificial Intelligence Alliance [FET]. In fact, the latter saw an increase in development activity over the past month, boosting its rankings.
The NFT market ended 2024 with total sales volume up 1.1% from 2023 volume. Nearly a tenth of the numbers came in December, with renewed interest in Ethereum [ETH] and growing NFT enthusiasm cited as causes.
And yet, major players have chosen to exit the NFT market. Crypto exchange Kraken and Nike-acquired NFT brand RTFKT are some examples. Analysts predict growth for the sector by 2025, and expanded use of NFTs in physical asset ownership could herald a new phase of adoption.
Decentraland and FET see greater activity in the chain
FET is one of the most famous projects in the AI sector. It enters the NFT category with the public beta launch for Resonate. Furthermore, the Artificial Superintelligence Alliance’s technology and platforms, while not directly connected to NFTs, would intersect with NFT applications and thereby fuel growth.
The daily activity count for FET was greater than for MANA due to its larger size and popularity. And yet, the trends in activity over the past three months have been similar for both tokens. There has also been increased activity over the past two days.
The supply distribution for MANA showed that some of the larger cohorts of holders have been accumulating the token since late November. The group of 100,000 to 10 million people was especially encouraging. The increased number of portfolios with these amounts of MANA indicated accumulation, while the number of shrimp portfolios with 100 or less MANA decreased in number.
FET also experienced a similar accumulation trend among larger holders. Wallets with 100-10 million FET have increased in number since early December. With planned token fires and deflationary pressure on the Artificial Superintelligence Alliance ecosystem, continued accumulation indicated steady demand.
Read that from Decentraland [MANA] Price forecast 2025-26
Although FET lagged far behind Decentraland in terms of development activity, its active addresses and accumulation trends pointed towards a more bullish outlook for the coming weeks and months. And yet, given that Decentraland only has a third of the market cap, an altseason could lead to big profits for MANA too.
