Trading volume dropped to 74% at most, showing top Metaverse tokens on Hyperdrive as they outperformed the market and beat the gains of their contemporaries by a multiple.
In fact, the total Metaverse market value has increased by 6.5%, or a whopping $31.1 billion, in just 24 hours.
Wednesday showed a slight improvement in the crypto market, with Bitcoin pulling off a major stunt with a surge of more than 3% while the rest of the other major cryptocurrencies flashed green.
It’s a big sigh of relief for many crypto investors and traders awaiting this uptrend move.
Metaverse tokens versus crypto giants
To everyone’s surprise, Metaverse tokens like GALA, Sandbox (SAND) and Apecoin (APE) have overtaken big players like Bitcoin and Ethereum.
APE is remarkably up over 34% in 24 hours, topping the list of winners. The rapid developments at SAND and APE seem to have sparked interest and pushed the Metaverse tokens into the spotlight. Now investors’ eyes are on these top metaverse tokens.
Recommended Reading | Crypto Quick Look: BTC hits $42,000, ETH hits 10-day high
BTC Total Market Cap at $815.46B on Daily Chart | Source: TradingView.com
BTC Total Market Cap at $1.96 Trillion on Daily Chart | Source: TradingView.com
APE’s daily trading volume is up about 360% at press time. Additionally, APE also overthrew Decentraland (MANA), which was initially minted as the largest token in the Metaverse.
The majority of Ethereum whales are heavily invested in GALA, APE, SAND and other powerful metaverse tokens. These are among the top 10 top-selling tokens in virtual space.
Recent gains have only added to the excitement.
No other way but up
The surge in Metaverse tokens is said to have been triggered by a few factors such as: B. the recent addition of APE to the Gemini trading platform and also the alleged launch of Yuga Labs Other side that is estimated at 600 APE.
What’s more, sandbox trading volume has increased by up to 65% in the last 24 hours. Thanks to a Bloomberg story, Sandbox has surged in popularity and has pooled investments of up to $400 million.
Recommended Reading | Bitcoin bounces back above $40,000 but may struggle to hold position
SAND is also up around 8% over the past seven days, with a market cap of more than $3.4 billion.
The Metaverse space is very optimistic about this upswing, which has also piqued the curiosity of many investors to delve deeply into these digital assets.
While Bitcoin and Ethereum, along with other major cryptocurrencies, are yet to be killed in the popularity vote, Metaverse tokens are certainly keeping up with the pace.
Featured image from Coingape, chart from TradingView.com
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.