The metaverse industry is seen as one of the most critical developments in the development of Web3. While the market is still evolving, many key players and well-known cryptocurrency projects are lining up to be a part of this industry. Recently, even Shiba Inu (SHIB), one of the biggest meme cryptocurrencies, has launched its own metaverse.
A metaverse cryptocurrency released on March 17 for the BAYC community by the developers of Bored APE NFT. ApeCoin also took action to be more permanent in the market. The creator of the platform, Yuga Labs, is reportedly gearing up to launch its virtual world “Otherside”. Land sales in Otherside will begin Saturday at 9:00 PM EST (4:00 PM on Sunday).
Whales did not miss the opportunity to buy from the bottom
Other key players in the Metaverse industry, such as Gala Games (GALA), Sandbox (SAND) and Decentraland (MANA), are already attracting great attention from both companies and giant investors. Many large financial institutions, electronics companies and fashion design firms have already taken their place in the race by purchasing land in these virtual worlds.
According to CoinMarketCap, the overall market cap of Metaverse tokens has dropped by over 6 percent in the last 24 hours. The cumulative total market value of the sector, which also experienced a decrease of 25 percent in 24-hour transaction volume, decreased to approximately 12.7 billion dollars.
It seems that following these dips, Ethereum (ETH) whales have identified the ideal time to buy the dip. According to WhaleStats, the largest ETH wallets have added to their portfolios in the last 24 hours. ApeCoin (APE)Shiba Inu (SHIB), Gala Games (GALA) and Decentralized (MANA) added.
ETH whales add $12.4M worth of APE
The craze for APE tokens from big investors continues to increase. In the past week, Bitcoin (BTC) has fallen by more than 3 percent, while it has increased by more than 40 percent. ApeCoin (APE) attracted the attention of major investors.
ETH whales have added more than $12.4 million in APE tokens to their savings since yesterday, according to data from whale watching platform Whalestats. This move of the whales is thought to be directly related to the highly anticipated Metaverse project “Otherside”. The continued massive demand for BAYC NFTs is also thought to be one of the factors driving the growing demand for the native token Apecoin.
PREMIERE The token has also experienced a serious drop of over 22 percent in the last 7 days. However, despite this, the metaverse coin has made it into the top 10 most purchased tokens by the largest ETH wallets. The biggest Ethereum whales hold more than $35 million in GALA tokens.
As a result of heavy purchases Decentraland (MANA) It has also become one of the most widely held cryptocurrencies by ETH whales. According to data from WhaleStats, MANA entered the list of the most used smart contracts among the top 500 whales in the last 24 hours. ETH whales cumulatively hold more than $162 million in MANA tokens.
You can check the price movements 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.