AXS, SAND, MANA: How Did The Metaverse Tokens React After The Latest Fix? – Tech Tribune France

Looking at the charts of the top 100 cryptos today, you would likely have seen a lot of near-vertical price declines as Bitcoin fell 8.20% in the last day to trade at $36,339.18 at press time. Meanwhile, Ether [ETH] fell 6.93% to touch the prices of $2,728.08.

However, it’s too easy to worry about the top 10 and forget about metaverse tokens. How did these new token categories perform after the latest bear attack? Let’s take a look at three.

Coping Strategy #1

Axie Infinity [AXS] is perhaps one of the most well-known NFT-based games on the market, but lately the headlines have been about its falling price and inflationary tokenomics. Now start a mini market crash. At press time, AXS was the 50th largest crypto by market capitalization, changing hands at $28.60 after falling 15.55% in one day and losing 22.24% of its value last week.

So how have investors reacted? Data from Santiment showed that AXS’s supply on crypto exchanges was at all-time lows, with only around 1.47 million remaining at press time. This suggests that despite all the odds, AXS has investors who believe in it – or gamers who are still invested in the game itself.

Source: Saniment

Coping Strategy #2

Meanwhile, the sandbox [SAND], was trading at $2.07 after plunging 12.98% in the past day and plunging 16.35% in the past week. However, those who invested in the 40th-largest crypto by market capitalization weren’t as eager as AXS users to hold on to their investments, as SAND’s exchange supply was growing sharply at press time. This is a long-term trend for the metaverse asset, with users generally more eager to cash in on their profits.

The Sandbox SAND 17.22.33 06 May 2022

Source: Saniment

Coping Strategy #3

In contrast, Decentraland [MANA] seen some truly startling measures. The 39th largest crypto by market capitalization was trading at $1.44 after losing 11.26% of its value in one day and dropping 19.16% in one week. However, the supply of MANA on exchanges has reached all-time highs since around December 2021. Still, the latest price decline has led to outflows, suggesting that investors were buying the dip.

Decentraland MANA 17.28.13 06 May 2022

Source: Saniment

What does’nt kill you. . .

Overall, it looks like metaverse tokens are suffering right now, but The new Chainalysis report made it clear that the NFT scene is not about to die down. The report Noted,

“Overall, collectors sent over $37 billion to NFT markets in 2022 as of May 1, putting them on pace to beat the total of $40 billion sent in 2021.”

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AXS, SAND, MANA: How Did The Metaverse Tokens React After The Latest Fix? – Tech Tribune France

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