Metaverse Tokens On Overdrive, Outpace Bitcoin And Ethereum
April 21 2022 - 10:04AM
NEWSBTC
Trading volumes plummeted to at most 74% showing top metaverse
tokens on hyperdrive as they outperform the market, surpassing the
gains of their contemporaries by a huge margin. In fact, the entire
metaverse market value has jumped by 6.5% or a whopping $31.1
billion in just 24 hours. Wednesday showed a bit of improvement in
the crypto market with Bitcoin pulling off a major stunt at a hike
of more than 3% with the rest of the other major cryptocurrencies
blinking green. It’s a major sigh of relief for many crypto
investors and traders awaiting that upward trend movement.
Metaverse Tokens Vs Crypto Giants To everyone’s surprise, metaverse
tokens like GALA, Sandbox (SAND), and Apecoin (APE) bowled-over the
major players like Bitcoin and Ethereum. APE has remarkably
increased by over 34% in 24 hours, topping off the list of gainers.
The rapid developments happening with SAND and APE seem to have
stirred interest and put the spotlight on the metaverse tokens.
Now, investor eyeballs are on these top metaverse tokens.
Suggested Reading | Crypto Quick Look: BTC Touches $42,000, ETH
Notches 10-Day Peak BTC total market cap at $815.46 billion on the
daily chart | Source: TradingView.com BTC total market cap at $1.96
trillion on the daily chart | Source: TradingView.com The APE daily
trade volume rose to approximately 360% as of presstime. In
addition, APE has also overthrown Decentraland (MANA) which was
originally coined as the biggest token in the metaverse. The
majority of Ethereum whales are heavily invested in GALA, APE, SAND
and other high-performing metaverse tokens. These belong to the top
10 tokens generating the most sales in the virtual space. The
recent gains just pumped up the excitement further. No Other Way
But Up The spike in the metaverse tokens is said to be triggered by
a couple of factors such as APE being recently added to the Gemini
trading platform and also Yuga Labs’ rumored launch of Otherside
that is valued at 600 APE. More so, Sandbox trading volume has
risen by as much as 65% in the last 24 hours. Thanks to a Bloomberg
story, Sandbox popularity has risen, pooling as much as $400
million in investments. Suggested Reading | Bitcoin Bounces
Back Past $40,000, But May Struggle To Maintain Position SAND has
also spiked to around 8% in the last seven days with a market cap
amounting to more than $3.4 billion. The metaverse realm is highly
optimistic about this upsurge which also fueled the curiosity of
many investors to deep-dive into these digital assets. While
Bitcoin and Ethereum alongside other major cryptocurrencies remain
to kill it when it comes to popularity vote, metaverse tokens are
surely keeping up with the pace. Featured image from Coingape,
chart from TradingView.com
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