Bitcoin (BTC) is expected to return, and altcoins are next in line. So, which altcoins of the metaverse can be optimistic? A significant part of cryptocurrencies suffered losses of more than 80%. They need to rally at least 300-400% to return to previous levels. If Bitcoin can form a new zone where it will consolidate between $50,000 and $55,000, this opportunity is just around the corner. So let’s talk about the good stuff.
Coins of the Metaverse
At the time of writing, the total market value of all cryptocurrencies focused on the metaverse is at the level of $ 36.4 billion. Of course, this does not include the value of the NFT from the sale of land in the metaverse. $36.4 billion based on tokens is still quite small. Even the total market capitalization of joke coins led by Shiba Inu and Dogecoin exceeds $31 billion. So the coins of the metaverse still have a long way to go.
There are 211 different coins of the metaverse on all cryptocurrency exchanges (CEX and DEX).
Metaverse Coins That Can Grow
If you are going to invest in the hype area, you have two options. Or you identify the most popular projects in this area and invest money in them, but earn less. Or you can find coins that are ambitious in this area but have a low market value, increasing your risk and investing with a higher earning potential. Of course, you will most likely spend all your money in the second option.
Decentraland (MANA), ApeCoin (APE), Axie Infinity (AXS) and The Sandbox (SAND) are the most popular coins of the metaverse. In particular, ApeCoin has an extremely strong and rich community. BAYC NFT are assets that whales and celebrities buy on the cryptocurrency markets, investing hundreds of thousands of dollars. That’s why you need to keep a close eye on the metaverse plans announced by Yuga Labs (the firm behind BAYC). Although AXS is falling due to the hacking news that came in the evening and exceeds $600 million, it is expected that these 4 metaverse coins will grow in the long run.
There are too many projects with assertive discourses in the field of the metaverse. We need to be much more careful, especially with regard to projects with a market value of less than $ 500 million. Metaverse research requires a well-equipped technical team and a powerful technological infrastructure. So it takes seriousness and money. In joke coins, these details are not important, and a cryptocurrency with ten zeros can bring you money, but in the area of the metaverse, everything becomes even more serious.
