Metaverse tokens keep rising and MANA and SAND lead the way in big weekly wins. In today’s altcoin news, we take a closer look at the price analysis.
Play-for-money metaverse tokens that are on the rise after a few days are very exciting for metaverse lovers, especially when it comes to pricing across the cryptocurrency board. While the broader market is pretty shaky right now, there are a few exceptions for metaverse tokens like MANA and SAND. If you look at the price breakdown, more than 80% of the projects on this topic can already be found and have started trading in the green weekly newspaper.
Among the front runners is SAND, which is up more than 110% in a week and showing no signs of slowing in the $ 8 price region. It’s also the third largest play-to-money token by market cap. The largest project, Decentraland, also overtook Axie Infinity in terms of market cap, having gained 56% on a weekly basis, while MANA was valued at $ 5.60 and AXS lagged behind with gains of just 5% over the past week. Other mentions are Enjin coins by 57%, Ultra by 105%, and DAR by 104%.
There doesn’t seem to be any reason for the massive surge in P2E coins other than the hype that has followed them since Fb changed its name to Meta. However, it should also be noted that a lot of infrastructure smart money has been invested in the market segment since then. For example, Enjin prepared to explore the Metaverse by setting up a $ 100 million fund and looking to support projects in the ecosystem that aimed to decentralize it. KuCoin, a leading crypto exchange, has launched a $ 100 million fund through arm investment and research to finance early stage projects in this area.
Meanwhile, several well-known institutional investors and venture capital firms like Alan Howard, Winklevoss Twins, Electronic Forex Group have raised $ 100 million to support the growth of the metaverse through Sfermion. , an NFT investment firm. It looks like smart money is betting heavily on the success of this market segment and the valuation is reflected.