cryptocoin.com As you can see from our news, metaverse coin projects are holding up better amid their sell-off in the crypto market, including the leading crypto Bitcoin. Many crypto investors are observing that metaverse coin projects not only hold up better, but keep moving forward. For example, Decentraland (MANA), The Sandbox (SAND), and Enjin Coin (ENJ) have increased by around 29%, 65% and 17% respectively over the past seven days, while Bitcoin has pulled back over 9%.
Armando Aguilar: We are bullish on Metaverse coin projects
Jodie Gunzberg, managing director of CoinDesk Indices, says people love to play games no matter what, and this behavior is not unlike what we often see in stock markets. Jodie Gunzberg comments:
Also, a pullback in Ethereum, or any other cryptocurrency required to play, may have prompted people to start at a cheaper price, increasing demand to play more.
According to experts, the metaverse rally is being driven by a combination of endorsements of big-name companies and increased venture capital funding in the crypto space, despite the pullback of blue-chip cryptocurrencies. Armando Aguilar, Vice President of Digital Asset Strategy at Fundstrat, highlights the following in an interview:
There are numerous metaverse dedicated funds that are only raising capital to grow the ecosystem in these virtual worlds and game-earned economies. We continue to be pretty bullish on the metaverse.
The VP of Strategy’s favorite metaverse coin projects are Star Atlas (ATLAS), Sandbox (SAND), Gala Games (GALA), and Yield Guild Games (YGG).
Experts, however, think that the divergence between metaverse coin projects and major cryptocurrencies could be broken in the long run. Joseph Edwards, head of research at crypto liquidity provider Enigma Securities, comments:
We’d be surprised if this turns into a trend. The more likely scenario is that metaverse games will rise independently of short-term games over the next few months, and only a total trend collapse in crypto will remove that.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.