Decentraland (MANA) Surges Above 313.48% In the Past Week -Breaking
- Decentraland’s (MANA), trading trend was up.
- MANA rose more than +313.48% during the seven-day period.
- Metaverse has a greater impact on price rises.
Like many Altcoins, Decentraland is in a trade uptrend. The crypto MANA gained +80% just a day ago after breaking the bullish pennant pattern. This was accompanied by huge volume buying on several exchanges, and an increase of over 313.48% within a week. MANA, which has a $3.60 price at the time of this writing is the 35th most popular cryptocurrency in the CoinMarkepCap.
Decentraland MANA is a platform for virtual reality powered by blockchain. It also allows you to create, experiment, and monetize applications and content.
On the other hand, the reason for MANA’s price surge is the metaverse project. Not only MANA, but all metaverse-related crypto projects have seen their price increase after Facebook (NASDAQ:) announced that it would be rebranded as Meta, with a mission to “bring the metaverse to life.”
Facebook’s Meta rebrand is part of an extensive realignment by the firm towards the metaverse. It published in September a $50 Million investment in metaverse leads and partnerships.
While in the keynote of the announcement of the company’s rebranding, CEO Mark Zuckerberg stated that “the metaverse is the next frontier just like social networking was when we got started.”
The general sentiment in the market suggests that cryptos could be heading back towards the bull run after recent price corrections. One reason this price surge could also be due to the possibility that Decentraland (MANA), which is being secretly bought by whales, has been inflated in anticipation of altcoins’ rally. In addition, HashKey’s Virtual Headquarter launch announcement.
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