Crypto Exchange Kraken Says Decentraland, The Sandbox and Metaverse Sector Far Outperforming Market Year-on-Year

A leading crypto exchange says metaverse tokens are significantly outperforming the rest of the digital assets markets in year-over-year (YoY) returns. In Kraken Intelligence's new May 2022 market recap and outlook, the exchange giant finds coins such as Decentraland (MANA), The Sandbox (SAND), Axie Infinity (AXS), ApeCoin (APE), and STEPN (GMT) are outperforming the rest of the crypto markets. “When looking at 1Y performance, the Metaverse sector The post Crypto Exchange Kraken Says Decentraland, The Sandbox and Metaverse Sector Far Outperforming Market Year-on-Year appeared first on The Daily Hodl.

Timeline of Decentraland, The-sandbox

After Decentraland [MANA] lost its previous baseline at the $1.9-mark, the sellers steered the trend to their fancy by keeping the price below the 50 EMA (cyan) for the most part. A string of lower peaks alongside the recent growth on its troughs molded a symmetrical triangle in the four-hour timeframe.

The Bank of Uganda is considering allowing cryptocurrency businesses to participate in its Regulatory Sandbox and has invited members of the Blockchain Association of Uganda (BAU) to share their expertise with the central bank.  A June 1 letter from the bank to Kwame Rungunda, the BAU's chairperson, mentioned a meeting between the two parties in early May.

The Bank of Uganda (BoU) has stated that it is open to considering crypto firms into the bank's regulatory sandbox. Blockchain Association of Uganda received the news with positivity.

Versus Entertainment taps Decentraland and Lumiere to develop NFT and metaverse-focused angles for an upcoming film. The post NFT Film “Infinite Machine” Taps Decentraland and Lumiere to Inject Metaverse-Focused Angles appeared first on BeInCrypto.

The buyers have finally clinched a string of higher troughs for over two weeks for the first time in two months on the 4-hour timeframe. Meanwhile, SAND refrained from high volatility as it hovered near the Point of Control (POC, red) in its high liquidity zone.

The Sandbox(SAND) price was stuck within a symmetrical triangle pattern for nearly two weeks, reflecting uncertainty among the market participants. However, a number of traders buying at discounted prices surged the altcoin higher to result in a bullish breakout of the pattern.

SAND jumps 12% after the latest acquisition by Sandbox of the Uruguayan Tech company Cualit. SAND reacted to the news positively as we can see more today in our latest altcoin news.

Since the Sandbox(SAND) holders lost the $2.5 crucial support, the coin price has witnessed a steady downfall accentuated by a descending trendline. Moreover, several retests to this dynamic resistance indicate the traders are actively responding to its level.

SAND price analysis reveals that the cryptocurrency has been following a partial bearish trend, with the price of SAND/USD moving towards the $1.4 mark. On May 16, 2022, the cost of SAND started to suddenly crash and reached $1.2 but shifted to a positive momentum the next day.

Most of the DeFi tokens in the crypto space earn their value from the function and success of the protocol they stem from. Naturally, any change in the protocol's ecosystem is bound to have a ripple effect on the token as well.