MANA Token Rallies By More Than 100% Since Facebook Rebranded to Meta
Facebook rebranded to Meta last week, and metaverse tokens within the cryptocurrency space have been experiencing massive growth in value since then.
MANA Records Over 100% Surge In Value
MANA, the native token of the Decentraland platform, has surged by more than 100% since Facebook announced that it is rebranding to Meta. Decentraland is one of the leading metaverse platforms in the crypto space, and it has been performing great in recent weeks.
Decentraland is a decentralized VR (virtual reality) world present on the Ethereum blockchain. In this virtual reality world, users can buy land, build it, monetize their properties and interact with other users on the platform. Everything on the Decentraland platform is powered by the Ethereum blockchain, giving users complete ownership and promoting transparency.
MANA rallied from $1.47 per token a few days ago to reach a new all-time high of $4.11 yesterday. This represents more than 200% growth in less than a week, thanks to the attention metaverse tokens have been gaining in recent days.
At the time of writing, MANA is trading at $2.66 per token, down by 34% from its all-time high. However, it is still up by nearly $1.47 since Facebook announced its change of name. MANA could rally higher in the coming weeks and months as the decentralized space continues to gain more attention.
Other Metaverse Tokens Also Rallied
MANA is not the only decentralized token to reach a new all-time high over the past few days. SAND, the native token for The Sandbox, a platform-driven metaverse where users can make their own NFT gaming worlds, surged by more than 40% over the past few days and reached a new all-time high at $2.35 yesterday. The coin has retreated and is now trading at $1.67 per token.
Investors have been betting big on the metaverse as they believe it is the next best thing in the world of socializing. The metaverse tokens could experience further growth in the coming months and years as more development and investment enters the field.