There are many cryptocurrencies out there, and there are many reasons why people buy them. One of the main reasons people buy cryptocurrencies is that they can see themselves holding a stake in the future. Therefore, people are looking at cryptocurrencies such as Mana Crypto in the hopes of seeing this coin’s future. So if you’re interested in learning more about Mana Crypto Coin, then read on.
What is Mana Cryptocurrency?
If you’ve never heard of it, it’s a virtual currency that is used within the Decentraland game. The coin is used to purchase goods and services within the game. You can purchase a range of avatars, wearables, names, and more on the Decentraland marketplace with the coin.
Mana is Ethereum-based crypto that was launched in 2017. Even though Mana Crypto is designed to use in the Decentraland game, it is possible to buy, sell, and store it in any Ethereum supported digital wallet. If you would like to buy Mana Crypto token, the top exchanges for trading are currently Binance, Mandala Exchange, OKEx, CoinTiger, and FTX.
Why is Mana Crypto Going Up?
Decentraland is a decentralized VR (virtual reality) world that is powered by the Ethereum blockchain. The Decentraland gameworld termed the “Metaverse”, is a place where you can purchase land, build it, monetize, and immerse into content and applications.
The Decentraland native token, MANA, surged by more than 100% in value at the end of the last week. On Saturday, the price of MANA hit an all-time high of $4.16. The sudden spike occurred as a result of Facebook's rebranding as "Meta" in the process of becoming a Metaverse company. That is, Facebook is making a move to become the dominant force in the Metaverse, which is an immersive 3D virtual world.
According to data from CoinMarketCap, Mana crypto started a bull run at the price of $4.06. After a couple of hours, the coined gained 76% to reach an all-time high of $5.31.
Currently, the Mana crypto price is $2.82 USD with a 24-hour trading volume of $186,710,697 USD. The token is up 23.50% in the last 24 hours. The current CoinMarketCap ranking is #32, with a live market cap of $5,146,380,490 USD.
To summarize, the rise of Metaverse technology is the main reason for the growing interest in "Metaverse" tokens like Mana Crypto. Investors are betting on the future of the Metaverse and are looking for a place to invest their money. And Metaverse coins and Metaverse real estate are their biggest bet.
For more articles like this, take a look at our Crypto page.