Metaverse is a new trend that is going crazy in the crypto space. However, despite the massive news, some in the community believe that the entire concept of meta seems grossly exaggerated and will go away in time.

In addition, the meta-protocol-related downtrend in tokens further confirms this claim. Oddly enough, their short-term perspective seems to support the narrative mentioned above.

Token Metaverse: Bleak Short-Term Future?

After the increase in November, most meta-coins are now in a cooling phase. At the time of analysis, MANA, SAND and GALA were down 3-9% on the last day alone.

At the same time, the price has also fallen sharply on the weekly chart, such as MANA 13% and SAND -20%. In fact, most virtual reality and gaming tokens are in the red at the time of writing.

At this point in time it looks like the downtrend will continue for a while as the state of the indicators paints a less favorable picture.

The number of deposit transactions with MANA, SAND and GALA has so far regularly reached peak values. There is thus no lack of short-term selling pressure in any of the three markets.

So if contestants continue to take profits to the same extent, it will be difficult for the price to recover.

The source: mood

In addition, the ratio of market value to real value of the tokens is moving south on the charts together.

This essentially suggests that investor returns are dwindling. In retrospect, it can be stated that the motivation to participate in these markets has disappeared in the past week. Until demand picks up again, further price adjustments are to be expected.

The source: mood

Can DeFi tokens go up?

The condition of the DeFi token has never been so great. However, it should be noted that this market entered a consolidation phase in October.

As the graph shows, the DeFi price index stayed in the $ 7,500-10,000 range for all of October, then rose to $ 10,000-12,500 in November, but has stalled here since then.

The consolidation will end at some point. In the past, DeFi tokens have experienced such monotonous phases before recovering strongly. It can therefore be said that at this stage the market is preparing for a long-term race.

The source: ethereumprice.org

In addition, DeFi tokens have had some green candles on the daily chart so far. For example, LUNA has increased more than 10% per day, while UNI has increased around 4% weekly.

In addition, the Uniswap network has grown significantly in the last few days and has recovered quite well from the lows at the end of November.

The source: mood

Nothing can be said with certainty at this point. Even so, the above data sets suggest, to some extent, that the DeFi token could bounce back in the coming weeks.

If the meta token continues its downtrend, the market could see a DeFi summer in the middle of a meta winter.

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