AXS, SAND, MANA: How did the metaverse tokens react after the latest correction

Looking at the charts for the top 100 cryptos today, you would have likely seen a lot of near vertical drops in price as Bitcoin tumbled down by 8.20% in the last day to trade at $36,339.18 at press time. Meanwhile, Ether ETH dropped by 6.93% to hit prices of $2,728.08.

Timeline of Decentraland, Axie-infinity, The-sandbox

Axie Infinity, one of the largest play-to-earn blockchain games by volume, has crossed the $4 billion mark for all-time NFT sales. The play-to-earn (P2E) game, launched sometime in 2018 by Vietnamese software studio Sky Mavis, is currently the third-largest NFT platform in terms of sales volume.

In revving up their efforts to ease down the sell-off situation, the buyers finally managed to find reliable grounds at the $28.9-level. While the recent retracement pulled the alt to its multi-month lows, Axie Infinity (AXS) marked a down-channel (white) on the daily timeframe.

During a volatile day of trading, ethereum classic rose to a one-week high earlier in the session, before falling victim to a red wave. AXS also rose today, climbing by over 12% in the day, however, a bearish wave pushed prices lower as the day progressed. Ethereum Classic (ETC) ETC climbed to a one-week high

Dubai's regulator will open more offices in the Sandbox metaverse space as we are seeing more in our latest cryptocurrency news. The Governemnt of Dubai is not planning on slowing down in its efforts to promote the development of the local industry and appeal to crypto enthusiasts.

Popular gaming token Axie Infinity (AXS) rallied over the past 24 hours after introducing land staking rewards, while crypto lender BlockFi also added support for the token. AXS jumped nearly 20% to $34.56, recovering sharply from a near one-year low hit earlier in the week.

The month of April not only demolished the March rally but was also responsible for the price bottoming of most of the cryptocurrencies. Decentraland's MANA suffered too along with the rest of the market and recorded a new low a few days ago.

Axie Infinity price is trading around a crucial support level that is likely to trigger a massive run-up for early investors. On-chain metrics also support this asymmetric, no-brainer, and a bullish outlook for AXS.

Even though The Sandbox might not be the biggest metaverse by market capitalization, it might just be the most popular and preferred metaverse given the entry of a government regulatory body. Dubai jumps in The Sandbox Following the trend as most of the other altcoins did, The Sandbox fell to its six-month low of $1.96

In its constant endeavor to break the constraints of its 4-hour 50 EMA, Bitcoin has been on a bumpy ride whilst failing to improve the broader sentiment. As a result, RUNE, Axie Infinity, and The Graph continued to show sluggish tendencies while struggling to sustainably uplift the bull momentum.

Axie Infinity on Wednesday said it has launched land staking rewards to increase AXS ownership among landowners in the game. The decision comes after the community expressed outrage over limited land utility and earnings amid delays from developers.