Decentraland’s Cryptocurrency Is Jumping this Month

Decentraland‘s MANA token has surged roughly 37% over the last seven days of trading. It now has a market capitalization of roughly $6.5 billion and stands as the 29th largest cryptocurrency by market cap.

Despite today’s significant sell-offs in Bitcoin, Ethereum, and the majority of major altcoins, Decentraland’s (CRYPTO: MANA) MANA token is gaining ground. As of 1:30 p.m. ET, the cryptocurrency had gained roughly 13% in the previous 24 hours of trading.

The excitement surrounding the metaverse has recently increased, which appears to be driving up the value of Decentraland’s token. MANA is the cryptocurrency used for transactions in Decentraland’s 3D virtual world, and rising interest in the metaverse and non-fungible tokens may help it post even more large gains.

Over the last seven days of trading, Decentraland‘s MANA token has increased by approximately 37%. It now has a market capitalization of approximately $6.5 billion and is the 29th largest cryptocurrency by market capitalization.

Decentraland rise

Decentraland is a blockchain-based metaverse that allows users to buy, outfit, and sell land in its virtual world. The metaverse has quickly become one of the hottest topics in the tech world, and rising interest and investment in the space are acting as bullish catalysts for the MANA token.

The cryptocurrency space as a whole remains extremely volatile, with significant sell-offs in Bitcoin, Ethereum, and other major tokens over the last week highlighting the fact that large price swings are the norm.

Decentraland and MANA, on the other hand, have intriguing use cases, and cryptocurrencies backed by promising features and services can still post significant gains even if the broader market is under pressure.

MANA is still a high-risk investment, but with the metaverse revolution seemingly just getting started, it wouldn’t be surprising to see the token rise significantly above current pricing levels.

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