Metaverse Tokens Soar: What’s Fuelling the Surge?
By Vishakha Thakur
Metaverse tokens are leading the crypto market with stunning price rallies…with the Sandbox’s SAND rising over 90%, Decentraland’s MANA rising over 55% and Axie Infinity’s AXS rising by over 30% in the past seven days. The cumulative market cap of all metaverse tokens currently stands at a whopping $13.7bn. Well, the dominance of Bitcoin is undeniable, but altcoins have their own charm.
This dramatic rally has sparked a frenzy, and other major tokens such as Floki, Illuvium and Gala are not far behind…!!
So, let’s take a closer look at the numbers:
First up is Sandbox’ SAND….
SAND’s daily transaction count skyrocketed to 11,597, marking its highest level in a week. On-chain data reveals a surge in exchange withdrawals, signaling growing confidence among long-term investors. As per market analysts…. with a breakout from its previous downtrend, SAND is eyeing its next target of $1.40, hinting at a potential 75-80% rally ahead.
Talking about Decentraland’s MANA….
MANA has gained over 55% this week and is currently trading around $0.70. With its market cap exceeding $1.3 bn, breaking past the $0.70 resistance could pave the way for another 100% rally to $1.30.
Simultaneously, Axie Infinity’s AXS has surged 30% this week, now trading at $8.13 with a daily trading volume exceeding $1.02 billion. The token has bounced back strongly after forming a double-bottom pattern, with subsequent targets set at $28, $45, and $69.
The resurgence of these tokens highlights the bullish momentum in the GameFi and Metaverse sectors, driven by increasing investor confidence and heightened network activity.
But what does this mean for the future of the metaverse and blockchain gaming? Let’s go to our special guest Mr. Amanjot Malhotra from Tezos who will share valuable insights into this market frenzy.
You need to login in order to Like
