The world of crypto assets rises towards brighter days, as the industry leaves behind the agonies aggravating its pace. Wherefore sentiments in the business have been stabilizing towards the better. Amongst a host of digital assets, projects revolving around metaverse are now scripting appreciable gains.
Such that, the collective market capitalization of metaverse tokens have risen by 4.89% taking the numbers to $25,604,218,138. While the trading volume escalates by 64.68% to $4,550,735,009. As a result of which investors are now eye on the analytics of top tier coins, namely SAND, MANA, and AXS. Which have been scripting notable gains on the charts.
The Sandbox (SAND):
SAND price has led to an exponential rise following the foray of HSBC in Sandbox’s metaverse. Which has made way for curiosities around its metrics. The market cap dominance has been on a gradual fall since its peaks from the 19th of February. The market cap dominance has seen a notable uptick of 0.22%, from the previous day’s 0.18%.
On the other hand, the MVRV ratio for 365 days, has been making constructive attempts since the fall on January 22nd. However, the numbers still fall short of the peaks of 314.85% from Q4 of 2021, by a greater margin. The last recorded score on Santiment was 47.95%, which was on the 15th of February. Where the price of SAND was at $4.26.
Decentraland (MANA):
Decentraland’s MANA price has been picking up pace alongside its major rivals in the industry. MANA now holds an active supply of 258,590,676.35, while the supply in contracts is at $1.42B. The market cap dominance has been building up on numbers over the past day. Which at press time is 0.27% from the previous day’s 0.24%. The rise comes after a slide has been impressive for the community.
Axie Infinity (AXS):
The AXS price has been finding buyers, coming from the wallets holding 1,000,000 and more tokens. The notable spike has been evident for over a month. Conversely, the number of tokens held by centralized exchanges has taken a fall to 2.8 M from 20 M. The plunge has been apparent for over eight months, which is an optimistic signal for the price projections.
Coming to the 365-day MVRV ratio, the numbers have been hovering around 47%. Which have been negative since the start of the year. The negative ratio signals at an open opportunity zone to place buy orders. Which gives a brief picture of the possible price projections in future.
Summing up, the brighter and greener numbers coming in from the aforesaid altcoins, instils faith over the flight of metaverse projects. That said, the metrics do hint at available buy opportunities, which could open up higher yields later on. The underlying fundamentals, growing adoption, and utility will eventually help the price project to the bulls.
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Source: https://coinpedia.org/altcoin/attention-traders-sand-mana-axs-price-to-project-double-digit-gains/