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HomeBitcoin NewsMetaverse Tokens Pattern Accelerates: SAND and MANA Skyrocket on the Weekly

Metaverse Tokens Pattern Accelerates: SAND and MANA Skyrocket on the Weekly

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Metaverse Tokens Pattern Speeds Up: SAND and MANA Skyrocket on the Weekly

< img src =" http://investincryptocoins.com/wp-content/uploads/2021/11/0zW9DF.jpg" class =" ff-og-image-inserted" > It’s been an amazing couple of days for Metaverse aficionados, specifically when it pertains to assessments across the cryptocurrency board. While the wider market is rather unsteady and indecisive, with a couple of exceptions, of course, play-to-earn and metaverse tokens are popping off.

Gains Everywhere

Taking a look at CoinMarketCap’s Metaverse board informs us that more than 80% of the tasks that have something to do with this topic are trading in the green on a weekly basis.

Among the leaders, specifically in the past number of days, is The Sandbox (SAND). The cryptocurrency is up over 110% in the week, and it shows no signs of slowing down, trading above $8 and setting new highs daily. It’s also the third-biggest play-to-earn (P2E) token in regards to market capitalization.

The biggest job– Decentraland– handled to surpass Axie Infinity in market cap following an impressive 56% weekly boost. MANA is now worth over $5.60, while AXS lags behind with just 5% gains in the past week.

Other noteworthy discusses consist of MyNeighborAlice (ALICE)– up 100%, Enjin Coin (ENJ)– up 57.61%, Ultra (UOS)– up 105%, Mines of Dalarnia (DAR)– up 104%, etc.


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What’s Driving the Rise?

There does not appear to be any particular factor behind the huge boost in P2E coins besides the general buzz that’s been following them since Facebook rebranded to Meta.

Nevertheless, it’s likewise worth discussing that a lot of infrastructure wise cash is being invested in this market segment ever since that took place. As CryptoPotato reported earlier, Enjin is getting ready to check out the metaverse by developing a $100 million fund, seeking to assist projects in the environment designed towards decentralizing it.

In addition, KuCoin– among the leading cryptocurrency exchanges– also introduced a $100 million fund through its investment and research arm– KuCoin Labs– also seeking to fund early-stage tasks in the field.

On the other hand, several high-profile institutional investors and venture capital firms such as the Winklevoss twins, Marc Andreessen, Alan Howard, and Digital Currency Group (DCG) raised another $100 million to speed up the introduction of the metaverse through Sfermion– an NFT investment company.

It appears that clever cash is wagering significantly on the success of this particular market section and, at the time of press, appraisals are being reflective.

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Published at Thu, 25 Nov 2021 08:22:59 +0000

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