The Rise Acceleration in Metaverse Projects Continues


In the crypto money market, which gained an upward momentum in parallel with the increase in the value of the leading crypto currency Bitcoin, crypto assets began to record high-rate upward movements. The local cryptocurrencies of The Sandbox and Decentraland, which are among the prominent Metaverse projects, managed to enter the category of CoinMarketCap’s “highest risers among the 100 highest market value cryptocurrencies” with these upward movements.

The Sandbox (SAND)

SAND, the native cryptocurrency of Ethereum-based virtual reality platform The Sandbox, has shown a high price performance in recent months, with increasing interest in Metaverse projects. SAND, which reached the price levels of $ 0.70 to $ 8 (SAND ATH: 8.44 USD – CoinMarketCap) in a three-month time frame, created a falling trend structure on the monthly chart with the depreciation of the leading cryptocurrency Bitcoin. In this process, SAND found support in the price band of $ 4.45, which is the lowest level of the last month. However, after the 25% average increase in value recorded in the last 24 hours, SAND, which made an upward break in the falling trend on its monthly chart, gained an upward momentum by rising to the price levels of $ 6.26.

Decentraland (MANA)

MANA, the native cryptocurrency of Decentraland, the virtual reality platform developed on the Ethereum blockchain, also gained an upward momentum due to the bullish trend in the market. Although MANA recorded high volatility price movements by testing the $3 support level multiple times during the week, it managed to surpass the $3.60 resistance after its upward movements in the last 24 hours. According to CoinMarketCap data, MANA, which recorded an average of 15% increase in value in the daily time frame, rose from the price levels of $ 3.23 to the price levels of $ 3.72.

The information contained in this article does not constitute investment advice. Investors should know that cryptocurrencies carry risks due to their high volatility and should perform their transactions in line with their own research.