Metaverse coin projects have become an important sector in the cryptocurrency ecosystem. Most emerging projects are absorbing metaverse capabilities. STX, ICP, APE, MANA and THETA make up the top 5 performing metaverse coin projects of the week.
Featured metaverse coin projects of the week
cryptocoin.comAs you follow, metaverse tokens have been integrated into the cryptocurrency landscape in recent years, forming an important sector within the ecosystem. Many of the emerging projects, especially those related to Web 3.0, are, in one way or another, absorbing metaverse capabilities, making the industry more recognizable in the crypto industry.
Some metaverse coin projects are differentiating themselves by performing impressively and competing with more traditional cryptocurrencies. Taking this into account, Stacks (STX), Internet Computer (ICP), ApeCoin (APE), Decentraland (MANA), and Theta Network (THETA) stood out as this week’s top 5 metaverse tokens, according to data from CoinmarketCap. Let’s take a look at these projects.
Best performance came from Stacks (STX)
Stacks ranks 37th among the overall CoinmarketCap cryptocurrency community. Its native token, STX, has a market cap of over $1.63 billion and has a daily trading volume of $432.4 million at the time of this writing. Stacks is a layer 2 protocol for smart contracts built on Bitcoin. It also allows decentralized applications running on the Bitcoin Blockchain to use BTC for transaction settlements on the Bitcoin Blockchain. STX has gained 6.7% so far this week, trading at $1.19 at the time of writing.
Second metaverse coin project Internet Computer (ICP)
Internet Computer is a Web 3.0 enabler that aims to create a ‘World Computer’ Blockchain to develop decentralized computing. The Metaverse coin project aims to provide an ecosystem for users to build any type of online system while participating in an end-to-end decentralized ecosystem. The project’s native token, ICP, is ranked 39th in CoinmarketCap’s overall cryptocurrency ranking. ICP has a market cap of $1.52 billion, while its price at the time of this writing was $5.13.
ApeCoin (APE) also managed to enter the list
ApeCoin is based on the Ethereum ERC-20 protocol with an ecosystem supporting the development of decentralized Web 3.0 products. APE is the native token of the ecosystem and is used to empower and incentivize participants within the ApeCoin community. APE is the 41st-ranked cryptocurrency on CoinmarketCap with a market cap of $1.49 billion. APE has been consolidating since January 23, 2023, when it reached an annual high of $6,417. APE was trading at $4,075 at the time of this writing, but still remains the third-highest metaverse token player for this week.
Popular metaverse coin Decentraland (MANA) is also on the list
According to CoinmarketCap, Decentraland’s native token MANA is trading at $0.5994 at the time of this writing and has a market cap of $1.11 billion. These statistics place MANA in 46th place overall among all cryptocurrencies ranked by CoinmarketCap. Decentraland is a virtual reality (VR) platform powered by the Ethereum Blockchain. A decentralized ecosystem where users can create, experience, and monetize content and apps. They can do this by acquiring and adding value to virtual plots just like in real life.
Finally, Tetha Network (THETA)
The fifth best performing metaverse project of the week was Theta Network with the native cryptocurrency THETA. THETA is ranked 53rd in CoinmarketCap’s overall cryptocurrency ranking. THETA has a market cap of $1.03 billion and is trading at $1.03 at the time of writing. Theta Network is a blockchain project focused on video streaming. A decentralized network where users can share bandwidth and computer resources through a peer-to-peer (P2P) fabric. Native crypto THETA primarily serves as a governance tool for the network.
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