Will Metaverse Tokens Outperform Bitcoin (BTC) And Ethereum (ETH) In 2023?
The cryptocurrency market is exploding due to rising interest from traders and easing regulatory environment. Bitcoin and Ethereum, the top two leading cryptocurrencies experienced double-digit gains from the beginning of 2023. On the other hand, several metaverse tokens like Decentraland (MANA) and The Sandbox (SAND) surged up to 100%. Now, the question is, between Metaverse tokens vs crypto assets, who will rule the second month of 2023?
Metaverse Tokens vs Crypto assets: Towards the Bull Run?
Crypto assets utilize blockchain ledgers to facilitate transactions and they can have various roles and features. Metaverse tokens have successfully managed to outperform both bitcoin (BTC) and Ethereum (ETH) in January 2023. Over the last four weeks, Decentraland (MANA) has risen to 150% against the U.S. dollar. At present, MANA is trading around $0.781603 with a 24-hour trading volume of $222,667,196.
In the past 30 days, The Sandbox metaverse token has increased by 92%. On Friday, SAND was trading at $0.756862 with a 24-hour trading volume of $208,603,213. Looking at Sandbox’s performance right now, many crypto investors believe that this metaverse token can reach new heights by the end of February 2023.
Axie Infinity and ApeCoin are also the top-performing metaverse tokens, which have risen 80% and 63.3% higher than the previous month. Meanwhile, bitcoin (BTC) rose 40% this month, and Ethereum (ETH) increased 33.5%.
In conclusion, metaverse tokens surely managed to outperform major cryptocurrencies in the first month of 2023 and if things remain the same, then these tokens will surely continue the bullish trend in February also.
Also Read: Top 5 Metaverse Tokens To Watch Out This Week
Note: The information in this article is solely the author’s opinion and not investment advice.
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