Connect with us

Altcoins

Man O MANA, Decentraland (MANA) Up Another 10%

Published

on

Decentraland

It’s been a helluva week in the cryptoverse. The market crashed again. Bitcoin (BTC) is now down around US $5,500.00 and Bitcoin Cash (BCH) has devolved into a pair of unrecognizable ticker symbols on your favorite exchange. But the hurt many investors are feeling as they watch their investments nose dive from recent highs has been tempered somewhat by the stories of a few coins that weathered the recent storm relatively well. One crypto-company that is bouncing right back after the crash is Decentraland (MANA).

Virtually unstoppable, Decentraland and their associated crypto-token, MANA, has gained back nearly 10% since the crash. In fact, investors in Decentraland may have hardly noticed the disaster that overtook Bitcoin (BTC) and its forked derivatives as the value of MANA continues the upward trend it began in the past weeks. Though down from the highs of November 13th, MANA is up 30% over the last month.

What is Decentraland (MANA)?
Essentially, Decentraland (MANA) is a virtual reality world built on the Ethereum blockchain. The platform is a three dimensional, interactive, augmented reality created for gamers and entrepreneurs alike. Promising unlimited experiences powered by the imagination of its users, it is the first decentralized virtual platform of its kind.

Users of Decentraland own and create the platform. By purchasing virtual land through the Ethereum blockchain, entrepreneurs create fun and interesting opportunities for other users within the ‘game.’ With full control over their land, the creation of unique experiences by property owners has proven to be exhilarating and profitable. While examples of lucrative business ideas within Decentraland include the construction of virtual casinos and performance halls, in general, the development of real-estate leads to increased property values on the platform. The incentive to make real money in the virtual world creates an unlimited opportunity for creative expansionism.

Decentraland (MANA) ranks in at #61 on coinmarketcap.com. With a market cap over US $93 Million, MANA is trading over US $4.5 Million per day. MANA is now priced at US $.089 with over 1 Billion coins in circulation. Decentraland can be found on Binance, where it currently leads the ‘gainers’ section on the popular exchange.

What News Has Come From the Development Team Recently?
The news surrounding Decentraland (MANA) has mostly revolved around the increase in adoption the virtual platform is experiencing. With virtual land sales increasing, a milestone was recently reached as a large parcel of land was sold for US $215,000 (nearly 3 million MANA).

In other news, Axie Infinity, a third party collectibles game developer, has recently announced they are coming to Decentraland. As stories of adoption add up, investors are rushing to the exchanges to get in on the action before the next tranche of support raises the value further.

Man O MANA, Where Does it Go From Here?
As Decentraland (MANA) continues to grow, investors in the platform have become giddy with excitement. Users of this innovative product and passive hodlers of the coin both see the potential for a bright future ahead. And as this crypto-rocket starts its engine, there’s still time for all of us to board the craft before liftoff. Where Decentraland (MANA) can go from here is anyone’s guess, but the sky is the limit and solid future gains are now virtually assured.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

Published

on

By

Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

Continue Reading

Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

Published

on

By

Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

Continue Reading

Altcoins

Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

Published

on

By

Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

Continue Reading

Trending