Tag Archives: DECENTRALAND

Decentraland Price Prediction: MANA Could Soar To $10 In November 

By Crispus Nyaga (via InvestingCube)

The Decentraland price bullish momentum is continuing as investors cheer the growing metaverse industry. MANA, its native token, is trading at $3.1960, which is about 427% above the lowest level in October. It is a few points below its all-time high of $5, bringing its total market capitalization to more than $5.9 billion. It is the 36th biggest cryptocurrency in the world.

Why did MANA price soar?

Decentraland is a blockchain platform that was built using Ethereum’s technology. It is one of the biggest platforms involved in the so-called metaverse industry. Precisely, the token allows members to develop a virtual universe where they can buy and sell digital assets like real estate. Ownership of this land is changed through non-fungible tokens (NFTs).

The strong rebound of the Decentraland price is mostly because of last week’s announcement by Facebook. In a statement, Mark Zuckeberg announced that the company will be known as Meta. Meta will be the holding company for platforms like Facebook, Instagram, and Whatsapp. The company will also be a leading player in the so-called metaverse industry.

Therefore, the MANA price soared since investors believe that Facebook’s rebrand will introduce more people into its network. 

Decentraland price prediction

On the daily chart, we see that the MANA price rocketed higher during the weekend. This makes it one of the best performing cryptocurrencies this week. However, the bullish trend seems to have found some resistance. It is, indeed, forming a bullish pennant pattern that is usually a bullish sign. The price is also significantly above the 25-day and 50-day moving averages.

Therefore, this breakout is still unfolding. I believe that the bullish trend will continue in October. If this happens, the next key levels to watch will be $5 and then $10. This view will be invalidated if the price falls below the key support at $1.50.

Decentraland Price

Facebook’s Meta rebrand causes obscure crypto MANA to jump 400% 

BY CHRIS MORRIS (via Fortune)

Facebook’s well-publicized (and often mocked) rebranding elevated MANA, a cryptocurrency that most people have never heard of, into the spotlight, resulting in a three-day price spike of 462% over the weekend.

The crypto has since lost some ground and is currently trading at $3.13, according to Coinbase. That’s still a 306% increase over Oct. 27, the day before Facebook announced its rebranding.

MANA is the token for Decentraland, which describes itself as a metaverse platform that allows users to buy and sell virtual properties. The token runs on the Ethereum blockchain.

Decentraland itself provides a gamelike atmosphere in which people create virtual lands and others explore them and participate in social games. Visually, it’s not unlike Roblox or Second Life.

Using MANA, visitors can buy “property” or upgrade it to whatever environment they want. They can also buy and sell items to use in the virtual world, as well as list their properties for sale. (Prices range from 30,000 MANA to over 1 million.)

Facebook’s big bet on the metaverse has ignited interest in many companies that focus on that space. Decentraland operates a bit differently than Facebook is expected to in the virtual world, though, focusing on user-generated content that lets people make money for themselves, rather than walled gardens that could enrich corporations.

MANA’s not the only crypto to see a surge after Facebook changed its name. SAND, the token for Sandbox, another virtual world, jumped from 74¢ on Oct. 27 to more than $2 on Monday, a 176% increase. (At its peak this weekend, SAND was trading at $2.35, a 218% increase.)