Decentraland (MANA) has become a favorite of institutional investors. The Metaverse coin project is witnessing an increase in inflows from investment firms. Grayscale’s Decentraland Trust has attracted institutions and high-net-worth investors over the past nine months.
Capital flows from institutional investors to the Metaverse coin project
As Somagnews reported, as the metaverse gained popularity, institutional investors began pouring capital into Decentraland. An investment product for institutions and high-net-worth investors, the Grayscale Decentraland Trust invests exclusively in MANA. The Trust invests over $64.9 million in Decentraland tokens, allowing investors to leverage MANA as a security without the hassle of purchasing, storing and keeping the token.
Tokens.com recently purchased 116 parcels of digital real estate in Decentraland for $2.52 million. Decentraland was second only to Sandbox in total volume traded last week. However, the 10 most expensive metaverse sales ranged from $758,250 to $220,000 on Decentraland. Metaverse’s total trading volume was $1.4 billion in the last 24 hours.
As the capital rotation from Bitcoin to MANA continues, the Decentraland price has gained 16% in the last 24 hours. Analysts use Decentraland and Sandbox price trends as an indicator for metaverse coin projects. Decentraland price rebounded after the December 4 crash and analysts observed a hidden bullish divergence in the metaverse token. The Decentraland price provided a massive rebound that attracted new investors to the metaverse token. Evaluating the Decentraland price trend, FXStreet analysts state that the metaverse token could eventually rebound to $5 with a break above $4.50.