An unknown whale has just recently transferred 9 million MANA tokens worth $51,103 (approximately Rs 38 lakh) to another anonymous account. Interest on the Metaverse is driving up the valuation for Decentraland’s in-world token aka MANA, and increasing interest in it and non-fungible tokens (NFTs) could help the token post big gains over the next few months.
according to the data of coingecoDecentraland’s MANA token is up nearly 66.6 percent over the past seven days of trading. It now has a market capitalization of approximately $7.48 billion (approximately Rs 55,755.38 crore) and is the 30th largest cryptocurrency by market cap.
similar in essence sandbox And axi infinity, Decentraland Ethereum is a metaverse built on the blockchain that allows users to buy, own, and sell land in its virtual world. The metaverse has quickly become one of the hottest topics in the tech world, and the growing interest and investment in the space is increasingly becoming a catalyst for the MANA token.
The overall cryptocurrency space remains extremely volatile, and there is a significant selloff Bitcoin, ether, and other major tokens from the past week highlights the fact that even when mainstream adoption of crypto is increasing, large price fluctuations are the norm. Decentraland and MANA, on the other hand, have intriguing use cases, and cryptocurrencies backed by promising features and services could still make huge gains even if the broader markets are facing bearish pressure. MANA remains a very high-risk investment, but with the Metaverse revolution just starting to heat up, it should also come as no surprise that the coin has climbed significantly above current price levels.
data from whalestates also show that the biggest ethereum whales on record are turning their attention to play-to-earn gaming projects such as Decentraland and Gala, which is also an ethereum-based metaverse altcoin, which has gained value after a recent listing on Coinbase. have increased.