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Crypto Whales tracker, WhaleStats shared the data that top Ethereum (ETH) whales have more Decentraland (MANA) tokens as compared to other tokens. These ETH whales held around $1.05 Million worth of MANA.
MANA’s Price Action in One-Week
MANA is currently trading at a price of $0.421 USD with a 24-hour trading volume of $76.60 Million, according to CoinMarketCap. The token is 3.12% up in the recent hours. It currently has a market cap of $781.69 Million and holds its ranking at 54th place.
It is one of the top-10 performing tokens in recent hours and showing a Bull Alert with almost 5X volume. According to Tradingview, MANA’s Relative Strength Index (RSI) is 31.31, which signaled a neutral action.
MANA is the official currency of Decentraland. It is defined as a virtual reality platform that is powered by the Ethereum blockchain. This gave the opportunity to the users to purchase plots of land in this virtual world.
Since its launching in 2017, MANA kept updating and then created a wide range of experiences on users parcels of LAND. This includes interactive games, sprawling 3D scenes and a variety of other interactive experiences.
The above graphic representation of MANA shows its last 7-days price performance. At where the token marked its low on November 29th, 2022 at $$0.3817, while its 7-days high was at $0.4274 today.
However, the token is 92.86% down from it’s all-time high when the token traded at $5.90 on November 25th, 2021. The ROI of MANA is 1533.63%.
The current performance of MANA amid the harsh market condition looks favorable as it attracted the attention of many of the crypto investors. The token could be a good approach for investment in the coming days.
On the other hand, its on-chain condition shows that Decentraland could not revive in some areas. Santiment, the network growth which increased tremendously in mid-November had dipped. Its value at 482 meant that new addresses were not interested in taking part in MANA transactions.
Moreover the active addresses, which spiked around in the same period, are following a downtrend. As with its network growth, deposits have not been impressive. After the FTX collapse in the previous month, MANA price movement ended up being caught in a rising triangle pattern.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
