MANA recovers by 61% in 24 hours thanks to its relentless…
Decentraland, the largest Metaverse in the crypto space, has been a pioneer with its wearables, and further demand for similar features has led to the platform noting higher traffic on both the DeFi as well as investor front.
While some cryptocurrencies continue to take damage from the crash of 9 May, others have already begun recovering. Over the last 24 hours, ironically, TerraUSD (UST) is leading the rise, but following it close is the Metaverse token MANA from the Decentraland.
From trading at $0.7 to trading at $1.14 on 14 May, MANA has made a stark recovery of 61% within 24 hours. This rise in the price also pulled MANA out of the oversold zone it had been lingering around for over three weeks now [ref. Relative Strength Index (RSI)].
Decentraland price action | Source: TradingView – AMBCrypto
The only trigger enabling such a drastic reaction is the demand of the Metaverse, and Decentraland being the leader of that space, is seeing the most traction.
Recently, Linked Wearables have been observing a lot of interest from investors and Metaverse users.
Linked wearables, unlike regular wearables, do not exist within the traditional wearable collection category. As they have no rarity of any kind and cannot be sold into any primary market, they basically serve the purpose of being an in-world only representation mapped to external NFTs by a third party.
To establish a presence among the same, Dogecoin-inspired Baby Dogecoin, as well as NFTStudios, submitted their proposals to include their linked wearables in the Metaverse.
But while Decentraland is noting an increase in the NFT aspect, its Metaverse front is looking a little weak.
With falling investors’ interest, Decentraland has noted a decline in its LAND sales
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