NewsletterAmid Crypto Market Bloodbath, these Metaverse Tokens Are Surging to New Highs
The crypto market has lost the majority of its gains from October in the past couple of weeks and November has turned bearish. Majority of the cryptocurrecneis inlcuing Bitcoin (BTC), Ethereum (ETH) and several other altcoins lost in double digits. However, amid growing fear among investors there is one category of crypto tokens that have defied the current market trends. These crypto tokens are not just trading in green, but also posing new all-time-highs.
Metaverse tokens and gaming token seems to be the next breakout trend in the crypto market and they are already proving their worth in the current bloodbath. Two metaverse projects along with gaming tokens that have made headlines over the past couple of weeks due to inflow of fresh funds include Sandbox (SAND) and Decentraland (MANA), Yield Guild Games (YCC) and Axie Infinity (AXS). All the metaverse and geming tokens defied market trends to set new ATHs yesterday.
$SAND rose from a daily low of $3.96 to set a new ATH of $4.68 with a 15% surge on a day when most of the other tokens were trading in red. The price surge in the Sandbox token is also being attributed the upcoming metaverse launch for the project scheduled for November 29. After 4 years of development the project would go live towards the end of November.
Similarly, Decentaland (MANA) also surged to a new weekly high of $4.31 with a 15% surge over the past 24-hours. The Metaverse token rose from a daily low of 3.34 to set a new weekly high and currently just 13% below ATH of $4.61.
Will Metverse Tokens Would Pull a Surprise Amid Bearish Dominance?
At the moment both NFT gaming market and Metaverse tokens have proven to be the most demanded crypto use cases. This is also evident from the price momentum against the market tends. While NFT mania has already hit the crypto market, the craze around the Metaverse is just peaking up and might continue to surge irrespective of the market trends.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Zcash to Surpass XRP? Arthur Hayes Makes Bold Claim Amid ZEC’s 45% Rally
- BlackRock Bitcoin ETF’s Biggest Outflow Ever Sparks Panic, But Kiyosaki Stays Bullish
- Bitcoin Can Rebound Anytime So Long Capital Keeps Flowing In, Says CryptoQuant CEO
- Retail Investors in DAT More Likely to Lose Funds After $17B Market Wipeout: Bloomberg
- Harvard Boosts Bitcoin ETF Holdings 257% to $443M Amid Investor Withdrawals
- What the New Bitcoin Model Predicts About a Possible $200K BTC Price Target?
- Zcash Price Soars 45%: Here’s Why
- Bitcoin Price Pattern Points to a Crash to $62k as Fed Cut Odds Fall to 54%
- Zcash Price Defies Market Crash: Will Shrinking Exchange Netflows Keep ZEC Rallying?
- XRP, DOGE & ADA Price Outlook: How Low Can These Altcoins Drop Next?
- Ethereum Price Sheds 10% but Lands on the $3,150 Accumulation Base — Is a Buy-the-Dip Bounce Ahead?
