On-chain analytics Santiment, recognized among metaverse projects Decentraland and shared some data about its native token MANA.
According to Santiment’s comment, Decentraland (MANA) is an NFT and virtual reality asset project that has been in the attention of investors for some time. While the shrinkage in the crypto market throughout 2022 has reduced the price of leading assets, it has created much more difficult consequences for assets with a narrower market share. In addition, the profit/loss ratio of MANA transactions is at the lowest level of the last three years. On the bright side, this metaverse coin can produce a positive result.
MANA price Historical data on the chart shows that once the rate is as low as it is now, it could be followed by a spike. In November 2019, the rate was at the levels it is now and in the following 6 weeks the project saw a massive 610% increase. Of course, time will tell whether this will be repeated in 2022.
MANA reached $0.6542 in the same time frame and is currently trading at $0.632, after a 2.73% drop over the past 24 hours, according to data from CoinMarketCap. The price is down more than 9% compared to last week.
Koinfinans.com As we reported, MANA’s 24-hour trading volume also fell more than 40% to $95,791,464 and took a big hit.
MANA can currently be seen as the 42nd largest cryptocurrency in terms of market cap, with a market cap of $1,172,450,226. This is enough to have MANA just behind Tezos (XTZ) and just ahead of Huobi Token.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.