The crypto market has lost most of its gains from October over the past few weeks, and November has been on the decline. Bitcoin (BTC) and Ethereum (ETH) are among those that lost in double digits. Amid growing investor fears, however, there is a category of crypto tokens that are challenging current market trends. These metaverse coin projects are not only trading in the green, but also creating ATH levels.
Metaverse coin projects are proving their worth
Metaverse coin and game tokens are showing the next breaking trend in the crypto market and proving their worth in the current bloodbath. Sandbox (SAND) and Decentraland (MANA), Yield Guild Games (YCC) and Axie Infinity (AXS) represent two distinct metaverse sectors, with gaming tokens making the headlines over the past few weeks due to fresh funding inflow.
SAND surged from the low of $3.96 to set a new ATH at $4.68, up 15% on a day when most other tokens were trading in red. The price increase in the Sandbox token is also attributed to the upcoming metaverse launch for the project scheduled for November 29. After 4 years of development, the project will be launched towards the end of November.
cryptocoin.com As we have reported, Decentaland (MANA) also reached its weekly peak of $4.31 with an increase of 15% in the past few days. The Metaverse token has advanced to a new weekly high of $3.34 daily and is currently trading just 16% below $4.69 ATH.
Metverse tokens show strength amid bear domination
Currently, both the NFT gaming market and Metaverse tokens appear to be the most requested crypto use cases. This is also evident from the price momentum versus market trends. While the NFT craze has already hit the crypto market, the craze around Metaverse is just peaking and they could continue to rise regardless of market trends, according to experts.
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