The proprietary token of a Solana-based non-fungible token (NFT) platform experienced a significant increase of almost 30% this week, despite the overall sluggishness of the cryptocurrency market.
Metaplex (MPLX), which is designed to streamline the creation, sale, and management of NFTs, saw a surge in its price this week as it attracted attention to its growing on-chain activity.
According to information shared on the social media platform X, in May, a record-breaking 834,000 unique wallets engaged in transactions directly with the platform, marking the highest month of activity to date.
Additionally, it was reported by Metaplex that last month, 3.1 million new wallets acquired a digital asset minted through the project.
The platform has also been active in terms of development. Recently, the crypto analytics platform Santiment ranked Metaplex third among all NFT-related protocols based on the number of significant GitHub events in the past 30 days.
Metaplex recorded 23.07 GitHub events, trailing behind the layer-1 permissionless blockchain Flow (FLOW) and the Ethereum (ETH)-based virtual reality platform Decentraland (MANA).
Santiment clarified that routine updates are not included in their count, and they utilize a refined methodology to gather data for GitHub events through a backtested process.
The native token of Metaplex, MPLX, is currently trading at $0.342, up from $0.264 a week ago. However, the 294th-ranked crypto asset began to decline on Friday, experiencing a drop of over 5% within 24 hours.
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