Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

NFT boom and platform upgrades back Decentraland’s (MANA) 100% rally

Published 01/22/2021, 01:44 PM
Updated 01/22/2021, 03:20 PM
NFT boom and platform upgrades back Decentraland’s (MANA) 100% rally

In the past year non-fungible tokens (NFT) have been gaining ground as the digital art market exploded and developers experimented with a variety of use cases. Data from NonFungible shows that over the past 30 days there were 58,400 NFT sales and $12.7 million worth of volume.

In the same time period, MANA, the token behind the blockchain-based virtual world Decentraland, totaled $636,000 in NFT trades. The virtual reality platform is built on Ethereum blockchain and provides a digital landscape where players can explore, interact with other players and purchase landplots along with other items.

MANA/USDT 4-hour chart (Binance). Source: TradingView
Decentraland marketplace daily transaction history. Source: NonFungible.com
MANA Twitter user activity vs. price (USD). Source: TheTie

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.