The metaverse is constantly becoming popular, and more development is being done in this area to test further limitations of Web3 technology.
Metaverse is an immersive experience that allows you to do things together with other people, such as having fun,
Craig Donato, Chief Business Officer of the modern metaverse brainchild, Roblox
Similarly, total trading volume for Metaverse tokens rose 11.99% to $2,233,892,951.
However, Apecoin APE trading volume is up 32% in the last 24 hours. ApeCoin’s overall market rating is 36th, according to Coinmarket’s market capitalization ranking. Today, the token occupies 0.16% of the market of the entire crypto market.
The popularity of Decentraland grew with the growing attention to Metaverse tokens. The Decentraland platform essentially used two tokens, namely MANA and LAND. Two tokens are essential for the success of the Decentraland project.
Currently, the price of the MANA token is on a downward trend; however, a more optimistic future is forecast. The current price has decreased by 6.9% in the last 24 hours, while the trading volume has increased by 7.5%. The minimum and maximum 24-hour MANA prices are $0.727 and $0.8 respectively. In the current market capitalization ranking, Decentraland’s MANA is ranked 40th with a total market capitalization of $1,365,259,575.68. The current market cap is down 7.43% despite a long-term bullish outlook.
Sandbox (SAND)
The Sandbox platform was launched in 2021 by Pixowl. The platform explores the possibilities of Web3 extensively, encouraging the development, creation and sale of digital assets on its platform.
Sandbox’s main focus on the gaming platform is to introduce unique blockchain features to online gaming. To date, the effort has been somewhat successful, as evidenced by the stellar performance of SAND’s native crypto token.
The price of the SAND token has decreased over the past 24 hours by 6.9%. Despite the price change, The Sandbox’s trading volume increased by 15.95%. The market rating of the SAND token is 41st in terms of total market capitalization. The SAND token represents 0.13% of the total cryptocurrency market capitalization.
Axi infinity (AXS)
Axie Infinity is a unique blockchain project that incorporates the unique benefits of blockchain and Web3 technology. The platform allows users to interact by trading, collecting, growing, fighting, and breeding token-based creatures known as Axes. Several variations of the Axies with multiple body parts contribute to the wide variety of options available on the platform.
Axies are considered NFTs with unique features that cannot be replicated. Creatures can be bred to produce unique creatures with different characteristics. The potential is almost limitless. Thus, the Axie Infinity platform has a control system.
AXS is a governance token for the Axie Infinity platform. AXS is short for Axie Infinity Shards. By holding the AXS token, you get the right to determine the direction of the organization through a voting system.
Currently, the AXS token is ranked 46th by Coinmarket capitalization, which takes into account the total market capitalization of cryptocurrencies. Current stats show that AXS coin is down 7.55% in the last 24 hours. AXS matic volume also fell 10% to 105,366,567.67. Axie Infinity Shards (AXS) Governance Token is predicted to have a positive growth trajectory in the coming years as the concept of the Metaverse continues to evolve.
Theta network (THETA)
Theta Network is a revolutionary blockchain project that aims to change the video streaming industry. Theta Network has the advice of two trusted professionals, Steve Cheng and Justin Kahn, who co-founded Youtube and co-founded Twitch, respectively.
Being able to associate with proven and trusted industry professionals enhances their credibility. Theta is primarily used to perform the ecosystem management tasks of the Theta metaverse.
Cryptocurrency Theta metaverse has performed well since its launch. However, over the past few days, the price of the token has declined due to the general bearish sentiment towards the Metaverse cryptocurrency as a whole.
The current bear market has affected multiple Metaverse platforms; THETA token recorded a decline of 7.55% within 24 hours. However, trading volume rose 3.13% to $47,676,409.56. THETA’s current market capitalization is $1,099,044,965.05, placing it at No. 47 in Coinmarket’s market cap rankings.
The creators and users of the Enj network platform can take advantage of the network’s anti-inflation policy. Similarly, the platform provides instant liquidity and reserve value, which is a huge boost for Metaverse projects.
The ENJ token is currently ranked 74th by market cap on Coinmarket with a total market cap of $502,489,307.94. The price of the ENJ coin is currently down 7.05% in the last 24 hours and the market share is 0.05% of the total cryptocurrency market capitalization.
At the moment, the token appears to be struggling as its 24-hour trading volume also dropped 3.43% to $65,673,346.54. However, long-term ENJ price predictions are optimistic as the Metaverse platform is expected to become more widely adopted.
Stacks (STX)
Stacks is an innovative Tier 1 blockchain project that aims to increase the technical potential of Bitcoin. Layer 2 blockchain projects have removed several limitations of the Bitcoin network. Stacks projects aim to enable the Bitcoin network to use smart trac and other decentralized application (DApps) capabilities.
Essentially, the technology allows developers to create other projects within other projects, allowing decentralized applications to be open and modular for improvements and further development, which is inherently absent from the typical Bitcoin network. The platform benefits from the security of the Bitcoin blockchain, which is arguably the most secure blockchain network to date.
The Stacks platform aims to empower the blockchain network through smart trac execution. Similarly, the platform facilitates the registration of new digital assets and the efficient processing of transactions on the Stacks 2.0 blockchain.
Currently, the Stacks (STX) token has experienced an overall price decline of 8.31% over the past 24 hours. Despite the decline, cryptocurrency trading volume increased by 8.53%. The current market capitalization of the STX coin is 470,292,055.08, indicating an increase of 7.96%. The Metaverse token ranks 78th in the Coinmarket capitalization ranking.