An unknown whale has just moved 9 million MANA tokens worth $ 51,103 (around Rs. 38 lakh) to another anonymous account. Interest in the metaverse has driven up the token’s valuation in the world of Decentraland, aka MANA, and the growing interest in this token and non-fungible tokens (NFTs) could help the token show big gains over the years. next months.
According to data from CoinGecko, Decentraland’s MANA token has jumped about 66.6% in the last seven trading days. It now has a market cap of around $ 7.48 billion (around Rs. 55,755.38 crore) and is the 30th largest cryptocurrency by market cap.
Similar in substance to The Sandbox and Axie Infinity, Decentraland is a metaverse built on the Ethereum blockchain that allows users to buy, equip, and sell land in its virtual world. The metaverse has quickly become one of the hottest topics in the tech world, and growing interest and investment in the space is creating bullish catalysts for the MANA token.
The global cryptocurrency space remains extremely volatile, and the massive sales of Bitcoin, Ether, and other major tokens over the past week underscore that sharp price swings are the norm, even when the Widespread adoption of crypto is on the rise. On the flip side, Decentraland and MANA have some intriguing use cases, and cryptocurrencies that are backed by promising features and services can still show big gains even if the broader market faces pressures. bearish. MANA remains a very high risk investment, but with the metaverse revolution just starting to heat up, it also wouldn’t be surprising to see the token rise significantly above current price levels.
Data Whale statistics also show that the largest Ethereum whales on record have drawn their attention to up-and-coming gaming projects like Decentraland and Gala, which is also an Ethereum-based metaverse altcoin that has risen in value after a recent listing on Coinbase.
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