Analyzing weekly performance of Decentraland [MANA], and SAND
Following last weekend’s market-wide decline in price for several crypto assets, leading metaverse tokens Decentraland [MANA] and The SandBox [SAND] were amongst the best performers in the week. Per data from CoinMarketCap, both assets recorded double-digit gains in the last seven days.
According to data from DappRadar , Decentraland and The SandBox both recorded hikes in user activity, albeit of varying degrees. In the last seven days, Decentraland recorded a 14.15% hike in the count of unique active wallets that interacted with the metaverse-based project.
This resulted in a corresponding rally in the total number of transactions made between these unique active wallets and Decentraland’s smart contracts. Data from DappRadar also showed that 17,450 transactions were completed in the last week, representing a 26.08% increase in transactions count.
Read Decentraland [MANA] Price Prediction 2023-24
Further, as the count of transactions completed by unique active users on Decentraland grew in the last week, the fiat value of these transactions also went up by 131%. This culminated in a 25% growth in the value of assets locked within the Decentraland ecosystem. Per DappRadar, this was $23.4 million at press time.
Source: DappRadar
The SandBox, on the other hand, did not record the same level of growth. Within the period under review, the count of unique active wallets that interacted with the metaverse-based gaming project grew by a mere 4%.
With minor user activity in the last week, transactions count on The SandBox fell by 6%. Also, the fiat value of transactions completed on the project went up by just 1%.
Interestingly, the tiny subset of active users on the protocol initiated a 155% jump in the value of assets
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