Decentraland has reached new highs as the metaverse hype continues. Some interesting developments in the metaverse of the project have also been responsible for the spike upwards. The cryptocurrency has been surging upwards as November began and after a few minor corrections, the upward trajectory resumed during the month. A new all-time high was established at $5.90 during the past week. At the time of writing, the MANA token stands at a price level of $5.09. The price has increased by 14% during the daily timeframe while the weekly performance shows a positive change of 40%. The daily trading volume has increased by 50% and the coin is currently standing at the twenty-third largest in the market.
Most expensive real estate purchase on Decentraland
Decentraland is an online digital universe powered by blockchain technology which is also known as the metaverse. Users can buy land, build upon it and monetize it through the sale and purchase of items inside the game that exist as non-fungible tokens. A plot of real estate was sold for a record $2.4 million which made the cryptocurrency shoot upwards towards its all-time high. The buyer is a subsidiary of the crypto investor known as Tokens.com. Decentraland considers the purchase to be the most expensive of a plot of virtual real estate in its metaverse. Tokens.com is planning to host digital fashion events for avatars in the metaverse by selling clothing NFTs to other players.
What else is going on?
Decentraland has achieved phenomenal growth and has been surging in popularity. A whale movement has also been recorded recently. According to reports, an anonymous whale moved 9 million MANA tokens to an unknown account. The platform’s marketplace has also been going under some developments and now all wearables will be available in 3D. The community is also booming with activity as users are actively organizing events and parties which further boosts the token.
The metaverse hype had been caused by FaceBook’s rebranding to Meta in order to celebrate their commitment towards the digital realm. Ever since then, blockchain-based metaverse projects have been vying for the moon. Metaverse has become the newest hottest sensation of the market and projects like Decentraland are expected to continue surging – at least till the hype lasts. According to the estimates of Digital Coin Price, the cryptocurrency is expected to close the year with a price of $7.66. Moreover, the price is expected to continue its uptrend over the years and reach $17.25 by 2026.