Apple to launch VR on Decentraland: Could MANA become metaverse king

In 2021, conversations held around the metaverse and virtual reality were at their peak, even in the cryptocurrency space. This heightened talk was one reason why tokens like Decentraland MANA and The Sandbox SAND reached considerable All-Time Highs (ATH).

Timeline of Decentraland

A key indicator shared by cryptocurrency analytics firm Santiment that has been used to accurately time previous Bitcoin bear market bottoms is currently suggesting that two metaverse-focused altcoins, Decentraland ($MANA) and The Sandbox ($SAND) are “still undervalued.

Key Points: Three of the CEOs and creators of the virtual reality platform Decentraland are among the 50 largest Genesis creditors, the cryptocurrency lender that on Thursday filed for bankruptcy.

MANA is the native token of the Decentraland ecosystem which, as the time of writing, has seen growth enough to recoup losses post-FTX collapse. According to CoinGecko, the token is up 55% in the weekly timeframe with the biggest gains made during the monthly time frame at 105%.

Investor enthusiasm for the potential of the Metaverse in 2022 helped Decentraland (MANA) gain much traction. However, since there had been little progress in the field, interest had dwindled, and the bear market may have worsened matters.

Decentraland [MANA] has been trading within the $0.5533 and $0.7595 range since 16 January. At the time of writing, MANA was in a second phase of price correction within the range.

Metaverse crypto projects are often some of the highest gainers due to the unique nature of the technologies being used. Users can access stunning open worlds, play their favorite games online, and earn financial rewards in a number of ways.

According to CoinMarketCap's data, Decentraland's native token, MANA, has gained 17.59% in the last 24 hours, following the stellar performance of metaverse tokens since the start of the new year. MANA is one of the top 100 cryptocurrencies and has grown by 95% in the last month.

Decentraland, the Ethereum-based virtual reality platform, has introduced new features for its users recently, leading to a significant spike in the value of its token, MANA. MANA is currently trading at $0.698 with a 2% decrease in the past 24 hours and closed the previous weekly candle with an 83% gain. The new features, which include the ability to link profiles, differentiate nametags, and highlight avatars, have been well-received by users if the token's price is any indication.

Decentraland's price increased dramatically as a result of its collaboration with the Australian Open and high GitHub activity. Decentraland (MANA) has surged 70% over the last week, reaching $0.70 at the time of publication which is just slightly less than MANA's pre-FTX crash price of $0.7137.

Decentraland (MANA) has recorded a strong performance over the past week, growing 73% to $0.7090 at the time of press. The post Decentraland shoots up 73% to pre-FTX collapse level appeared first on CryptoSlate.