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- Decentraland’s MANA token witnesses a rise of more than 4% in 24H
- However, the token did fell by a margin of 3%, trading at lower than its peaks
- Decentraland’s MANA saw a golden rally the previous month going up by more than 500%.
The craze of cryptocurrencies has just begun as new tokens keep emerging out of an eternal abyss. From the crypto king establishing new all-time highs & Ethereum climbing undiscovered peaks to epic battles of bull run among memecoins, it has been quite a journey for the markets.
Apart from the cliched tokens, some new ones too are found to be trekking record highs.
Recently, over the day, Decentralands MANA’s price rose by more than 4% in a day trading at $3.79 at a point in time, the general outlook of the cryptocurrency happens to be good as it rose from $2.23 to $3.79 in a week’s time. However, at the time of writing the token is observed to have gone cold turkey on its rally & currently trades at around 3% lower at $3.20.
ALSO READ – EXPERTS BELIEVE THAT ETHEREUM COULD BE A TRILLION-DOLLAR PLATFORM IN A FEW YEARS
It was also observed that decentraland’s MANA had increased volatility in contrast to rising token prices. The Bollinger bands that measure the price: volatility of the cryptocurrency went higher & became more saturated citing the increase.
The trading volume of the token has also consequently risen by over 97%. The overall circulating supply has decreased to 0.99%, resulting in the current supply being 60.5% of its maximum supply of exact 2.19 Billion tokens. The market cap of MANA currently stands at $5.81 Billion, which seems to be down about 3%. MANA happens to be the 49th largest token in the markets of cryptocurrencies.
Decentraland’s MANA did surge by 500% in the latter days of October which welcomed the currency into the limelights of investors & crypto enthusiasts. The token zoomed past the $4.00 mark, trading at $4.19 on Oct 30. The token aims to be a key merchant for future users that will facilitate all the transactions related to the metaverse, the mentions also happen to be the reason for the token to rally more than 500%.
Created by Ariel Meilich & Esteban Ordano, the token is built on Ethereum blockchain where people can use it to buy avatars, NFTs, unlock names & rewards in the world of metaverse.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
