After a violent drop in the middle of the week, the crypto market is correcting the upward movement . With the exception of Axie Infinity which had anticipated the rise as of yesterday, none of the 10 most capitalized metaverse tokens show a rise of less than 10%.
The metaverse sector is outperforming the market!
According to data from Coinmarketcap, the crypto market is worth $1.32 billion today. A valuation up 8.25% over the last 24 hours. For its part, the price of Bitcoin shows an increase of 4.15% and the ETH token is up by 5.92%.
If the crypto market appears to be up by almost 10%, the metaverse sector largely outperforms it: + 27.57% in 24 hours, according to figures from the Coinmarketcap platform. At the time of writing, metaverse crypto projects have a total capitalization of $15.7 billion. Over the past 24 hours, the trading volume has increased slightly: +13.6%.
The following table shows the evolution of the token price of the 10 main metaverse projects over the last 24 hours.
|Current course||Evolution in 24 hours|
|Apecoin (APE)||$9.26||+ 17.35%|
|Decentraland (MANA)||$1.11||+ 46.90%|
|The Sandbox (SAND)||$1.45||+ 21.85%|
|Theta Network (THETA)||$1.49||+ 18.49%|
|Axie Infinity (AXS)||$23.10||+ 4.45%|
|Stacks (STX)||$0.5863||+ 13.08%|
|Gear Coin (ENJ)||0.7387||+ 25.06%|
|Render Token (RNDR)||$0.9597||+ 25.73%|
|Ontology (ONT)||$0.2678||+ 13.72%|
All of these 10 projects therefore outperform Bitcoin. With the exception of Axie Infinity, they all also outperformed the Ethereum rally. Half of these 10 projects experienced an increase of more than 20% .
If we look at other projects like Gala (GALA), the leap is also very spectacular. The GALA token is currently trading for $0.09731, up 49.9% in 24 hours. For its part, the GMT token of the Stepn project also rebounded strongly: + 37.1%.
Is it the right time to invest?
If the metaverse projects are having a very good session, it is clear that these projects have not entirely made up for the losses incurred throughout the week. Here is the evolution of the price of the most emblematic projects over the last 7 days:
- Apecoin (APE): – 30.97%
- Decentraland (MANA) : – 24,34 %
- The Sandbox (SAND) : – 31,21 %
- Gala (GALA): – 29.61%
- Stepn (GMT) : – 33,26 %
At the same time, Bitcoin posted losses of around 15% over the last 7 days while the price of Ethereum posted a decline of 21%.
So, if you believe in the development and mass deployment of the metaverse, these price points are still attractive opportunities . According to several studies, the perspectives around the metaverse are impressive.
A few months ago, analysts from Grand View Research established that the sector could grow at an average annual growth rate of around 40% until 2030 . Applied to the weight of the sector at the time of the estimate, this could push the metaverse sector closer to $700 billion. Either a larger capitalization than Bitcoin. If we are to believe Coingecko’s forecasts, the metaverse could see more than 0 billion in NFT transactions.