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Benzinga
Benzinga
Business
Shivdeep Dhaliwal

Why Metaverse-Play Decentraland (MANA) Is Outperforming Bitcoin, Ethereum Today

Ethereum-based virtual world platform Decentraland (MANA) is outperforming the wider cryptocurrency market late Monday amid metaverse optimism.

Decentraland Price Performance
Time-frame % Change (+/-)
24-hour 12.4%
24-hour against Bitcoin (CRYPTO: BTC) 8.1%
24-hour against Ethereum (CRYPTO: ETH) 4.1%
7-day 37.8%
30-day -16.65%

YTD performance

-16.75%

Why It’s Moving? MANA moved higher alongside other Metaverse plays like The Sandbox (SAND) and Enjin Coin (ENJ) at press time as the global cryptocurrency market cap remained flat at $1.7 trillion.
MANA gained traction among retail traders as the token trended on Stocktwits. The coin was also seen trending on CoinMarketCap price-tracking website.

Rapper Ice Cube offered a “guided tour” in Decentraland through a tweet on Monday. The artist said visitors could check out the “coolest show in town” titled “Man vs. Machine,” which contained art by him and Trevor Jones, a traditional painter who says he is fascinated with art and tech collaboration.

Meanwhile, a Chinese New Year Carnival, organized by Metaverse Labs, is also taking place on Decentraland.

Read Next: Bitcoin, Ethereum, Dogecoin On The Rise — Sorry To Play Debbie Downer But Here's Why These Analysts Refuse To Sound The All-Clear Alarm

Photo: Courtesy of Decentraland

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