Decentraland (MANA) Seen Getting Pulled Downstream In Next 7 Days – Here's Why

Decentraland (MANA) managed to tally a 3.4% increase over the last 24 hours as the crypto space is looking at a possible bullish recovery. In doing so, the crypto managed to trim its losses on its biweekly and monthly charts to 2.7% and 9.4%, respectively.

Timeline of Decentraland

Decentraland claims to be the first fully decentralized world, is controlled through the Decentralized Autonomous Organization (DAO). The DAO owns Decentraland's most important smart contracts & assets and puts you in control of the policies formulated to determine how the virtual space behaves.

The cryptocurrency industry is ripe with prospects, especially now that multiple token divisions are starting to emerge. Encompassing everything from GameFi, the virtual reality space (Metaverse), meme tokens, DeFi, and more to confidentiality and anonymity.

Decentraland, the Ethereum-based metaverse platform has announced the Metaverse Music Festival 2022, an event based in the metaverse that will feature performances from artists across several genres. The first Metaverse Music Festival was held in October last year and attracted over 50,000 visitors over the course of four days.

Decentraland (MANA) price has broken down below the $0.75 horizontal support area and could continue decreasing towards $0.49. Sandbox (SAND) has fallen to a new yearly low and shows no signs of a potential reversal.

Crypto analytics firm Santiment says that virtual reality blockchain Decentraland (MANA) is quietly flashing an on-chain signal that has previously foreshadowed exponential rallies for the altcoin. According to Santiment, MANA's profit/loss ratio, which compares the amount of coins sitting at a loss to those at a profit, is sitting at three-year lows.

Having spent the past nine months seeing a decline in its price, the ratio of daily on-chain transaction volume in profit to a loss for Decentraland [MANA] is at its lowest level in three years, new data from Santiment revealed.

Analysts predict that Moshnake (MSH) will have a similar impact on the coin market as GameFi giants, Decentraland (MANA) and Smooth Love Potion (SLP). The “cryptoverse” is the blockchain universe that comprises cryptocurrencies, smart contracts, NFTS, and the decentralized exchanges created to interact with them.

DappRadar only tracks users directly interacting with blockchain, a new blog post explains. For example, Axie Infinity's daily user count is over 100,000, but DappRadar measures it only at 20,000.

Decentraland (MANA) price is showing bullish signs in the weekly time frame, but the daily chart suggests more downside is likely prior to a reversal. Meanwhile, The Sandbox (SAND) has a bearish outlook in both long- and short-term time frames The post Metaverse: Decentraland (MANA) and Sandbox (SAND) Price Face Immediate Trouble appeared first on BeInCrypto.

Ethereum-based metaverse platforms Decentraland and Sandbox have responded to claims made by users on Twitter regarding the daily active users (DAU) on the platforms.  30 DAU with billions in valuation?