The cryptocurrency market is exploding due to increasing visibility and supporting regulations. Bitcoin and Ethereum, the two major cryptocurrencies, posted double-digit gains. On the other hand, several metaverse tokens such as Decentraland (MANA) and The Sandbox (SAND) rose to 100%. Now the question is, between Metaverse tokens vs crypto assets, who will rule the second month of 2023?
Metaverse Tokens vs. Crypto-Assets: Towards the Running of the Bulls?
Crypto assets use blockchain ledgers to facilitate transactions and they can have different roles and functions. Metaverse tokens successfully managed to outperform both bitcoin (BTC) and Ethereum (ETH) in January 2023. Over the past four weeks, Decentraland (MANA) is up 150% against the US dollar. Currently, MANA is trading around $0.781603 with a 24-hour trading volume of $222,667,196.
Source – CoinMarketCap
In the last 30 days, the Sandbox metaverse token is up 92%. On Friday, SAND was trading at $0.756862 with a 24-hour trading volume of $208,603,213. Looking at Sandbox’s performance right now, many crypto investors believe that this metaverse token could reach new heights by the end of February 2023.
Source – CoinMarketCap
Axie Infinity and ApeCoin are also the best performing metaverse tokens, rising 80% and 63.3% higher than the previous month. Meanwhile, bitcoin (BTC) is up 40% this month and Ethereum (ETH) is up 33.5%.
In conclusion, metaverse tokens definitely managed to outperform the major cryptocurrencies in the first month of 2023 and if things stay the same, then these tokens will definitely continue the bullish trend in February as well.
Also Read: Top 5 Metaverse Tokens To Watch Out For This Week
Note: The information in this article is solely the opinion of the author and not investment advice.
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