The broader crypto space experienced a sharp sell-off over the past two days taking the market cap to $2.63 trillion. However, the majority of the Metaverse projects managed to uplift the total market cap by oppressing a bearish trap. Notably, The Sandbox and Decentraland prices have risen by 58% and 37% over the week.
However, Gaming and Metaverse projects are obtaining acceptance at all-time highs. Immense buildup in popularity gears up as a quarter of Meta continues to evolve. Yet to extract maximum dividends from upcoming projects, Jason Pizzano has suggested traders consider five strategies.
Decentraland (MANA) Price At Its Peak of Bull Cycle?
A metaverse protocol MANA has been creating a lot of media buzz post the Facebook rebrand to Meta. If we keenly look at the asset’s historical price action. The MANA price was under bearish control for the two prolonged years as it was lacking with the trend. The price momentum has perpetually generated lower highs and lower lows.
The accumulation has resumed in a gradual phase post the protocol has corrected its crucial support during early 2020. From there, the asset has initiated to generate higher highs and higher lows. The traders who clutched their portfolios with patience for two years captured more profits. The investors were patient because they had a firm belief in MANA’s fundamentals and future potential. However, post the trend reversal to Meta, Decentraland moved strongly in pace with vogue.
Upcoming Metaverse Projects
As the futuristic project is at its peak of the bull cycle, analyst Jason Pizzano expects altcoin to take a breather for a while now. In addition, he mentions potential Metaverse projects on the brink of a massive breakout.
Enjin coin has allocated a $100 million fund in contemplation to build Efinity metaverse. The central goal of the fund allocation is to develop NFT gaming projects on Efinity to help make them a decentralized Metaverse a reality.
Like google features a world map, OVR protocol aims to build 3D maps of the real world. In addition, the platform has plans to allow a community of OVRLand mappers to procure OVR tokens just by scanning the physical world location via their smartphones.
Collectively, these new projects appear to be tracing the path of Decentraland price action. As the token was under prolonged consolidation for a while, it has now caught up with a trend. It would give significant profits for patient holders who believed in the vision of the platform. On the other hand, the OVR protocol further holds the potential to follow a similar trend.