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Top 10 Metaverse Coin By Market Cap

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Top 10 Metaverse Coin By Market Cap
  • The top 10 metaverse coins by market cap are Decentraland, Axie Infinity.
  • The Sandbox, Gala, Enjin Coin, UFO Gaming, Illuvium.
  • Yield Guild Game, MyNeighborAlice, Star Atlas.

The top 10 metaverse coins by market cap are Decentraland (MANA), Axie Infinity (AXS), The Sandbox (SAND), Gala (GALA), Enjin Coin (ENJ), UFO Gaming (UFO), Illuvium (ILV), Yield Guild Game (YGG), MyNeighborAlice (ALICE), Star Atlas (ATLAS).

1. Decentraland (MANA)

The top metaverse coin by crypto market cap is Decentraland (MANA). It is a self-defined virtual reality platform powered by the Ethereum blockchain that enables users to create, experience, and monetize content and applications. MANA is an ERC-20 token that needs to be burned to acquire non-fungible ERC-721 LAND tokens. MANA can also be utilized to pay for a range of avatars, wearables, names, and more on the Decentraland marketplace.

Furthermore, at press time, MANA’s price was trading at $4.68 with a 24-hour trading volume of $2,397,182,475. According to CoinMarketCap, the circulating supply of MANA is 1.82B MANA. In the last 24-hour MANA price surged over 4%. It can be traded in top crypto exchanges such as Binance, Mandala Exchange, OKEx, CoinTiger, and Huobi Global.

2. Axie Infinity (AXS)

Axie Infinity (AXS) is a blockchain-based trading and battling game that is partially owned and operated by its players. It will allow players to collect, breed, raise, battle, and trade token-based creatures known as Axies. Each Axie is a non-fungible token (NFT) with different attributes and strengths and can be entered into 3v3 battles. This is not the same as other blockchain-based battling and breeding games, each Axie can only a bred a total of seven times to help control the population of Axies.

Accordingly, as per CoinMarketCap, AXS’s price was trading at $128.47 with a 24-hour trading volume of $296,755,014. In the last 24-hour it has gained nearly 0.58%. Axie Infinity (AXS) can be traded in top crypto exchanges such as Binance, Mandala Exchange, OKEx, Huobi Global, and ZBG. It has been found to be the 25th largest cryptocurrency, as per CoinMarketCap.

3. The Sandbox (SAND)

The Sandbox (SAND) is a unique platform, it introduces blockchain technology to the world of gaming. The main aim of The Sandbox is to introduce blockchain technology in mainstream gaming successfully. The platform focuses on facilitating a creative play-to-earn model, that enables users to be both creators and gamers simultaneously.

Henceforth, at the time of writing SAND price was waving at $6.32 with a 24-hour trading volume of$3,216,440,897. The circulating supply of SAND is 892,246,119.22 SAND. The Sandbox (SAND) can be traded in top crypto exchanges such as Binance, Mandala Exchange, OKEx, CoinTiger, and Huobi Global. 

4. Gala (GALA)

Gala secured the 43rd position in CoinMarketCap. Ans it has been found to be the 4th top metaverse coin by market cap. Gala games aim to take the gaming industry in a different direction by giving players back control over their games. Furthermore, GALA plans to reintroduce creative thinking into games by giving players control of the games and in-game assets with the help of blockchain technology.

And, GALA’s price was trading at $0.6054 with a 24-hour trading volume of $1,709,763,334. GALA can be traded in top crypto exchanges such as Binance, Mandala Exchange, Huobi Global, and FTX.

5. Enjin Coin (ENJ)

Enjin is a company that provides an ecosystem of interconnected, blockchain-based gaming products. ENJ is a project of Enjin. ENJ is a digital store of value used to back the value of blockchain assets like non-fungible tokens (NFTs). Enjin Coin is unique, every token minted with Enjin platform. More so, Enjin Coin uses a series of smart contracts to which game developers send ENJ to mint new, unique fungible, or non-fungible ERC-1155 tokens.

At the time of writing ENJ’s price was waving at $3.40 with a 24-hour trading volume of $523,452,632. The circulating supply of ENJ is 838,603,684.07 ENJ

6. UFO Gaming (UFO)

UFO Gaming is a fully decentralized inter-galactic social gaming token. P2E (Play to Eran) Metaverse, Virtual land, NFT, Gaming, and IDO Launchpad. Eventually, users can stake UFO tokens or own land on the game’s dedicated planet to get tiered access to some of the most highly anticipated gaming projects added to the dark Metaverse.

According to CoinMarketCap, UFO’s price was trading at $0.00004453 with a 24-hour trading volume of 18,648,828. The circulating supply of UFOs is 25,757.58B UFO. It can be traded in top crypto exchanges such as Bitget, ZT, Gate.io, Bitrue, and BitMart.

7. Illuvium (ILV)

An open-world fantasy battle game built on the Ethereum blockchain is Illubium (ILV). The world of Illuvium is occupied by creatures known as Illuvials, which can be captured by players that best them in battle and nurse them back to health. Illuvium is unique in comparison to other blockchain-powered games. even more, it features a fully 3D environment, with over 100 unique illuvial found scattered throughout its various regions.

Furthermore, ILV price was trading at $1,529.02 with a 24-hour trading volume of $86,63,936. As per CoinMarketCap, ILV circulating supply is 642,799.06 ILV. It can be traded in top crypto exchnages such as Binance, Mandala Exchange, OKEx, KuCoin, and Hotcoin Global.

8. Yield Guild Games (YGG)

The 8th top metaverse by market cap is Yield Guild Games (YGG). It is a decentralized autonomous organization (DAO) that invests in virtual world-non-fungible tokens (NFTs).In decentralized games, yield games have built a community of players and investors who make money by investing in NFTs, used in virtual worlds and blockchain-based games. Henceforth, NFT ownership will gain from an increase in the economic worth of the in-game asset reflected in the value of its NFT on the open market.

According to CoinMarketCap, YGG [price was waving at $7.37 with a 24-hour trading volume of $79,637,390. At the time of writing the circulating supply of YGG is 68,309,471.13 YGG. It can be traded in top crypto exchanges such as Binance, Mandala Exchange, OKEx, Huobi Global, and KuCoin.

9. MyNeighborAlice (ALICE)

A multi builder game, where anyone can buy and own virtual islands, collect and build exciting items and meet new friends. ALICE is My Neighbor Alice’s native utility token and is used in the following functions as In-game Currency, Governance, Player Incentives. It has secured the 145th position according to CoinMarketCap.

ALICE can be traded in top crypto exchanges such as $20.52, with a 24-hour trading volume of $338,326,171. ALICE can be traded in top crypto exchanges such as Binance, Mandala Exchange, Huobi Global, FTX, and KuCoin.

10. Star Atlas (ATLAS)

Star Atlas is a massively multiplayer online game that takes place in a virtual gaming metaverse. Even more, it combines different genres. It aims to deliver an immersive metaverse gaming experience that encompasses several genres and combines a cinema-quality gaming experience with an ability to earn virtual assets that can be exchanged for real-life currency. Star Atlas will be set up on the Solana blockchain.

ATLAS is the 10th top metaverse by market cap. Henceforth, ATLAS’s price was trading at $0.1792 with a 24-hour trading volume of $50,233,965. The circulating supply of ATLAS is 2.16B ATLAS. It can be traded in top crypto exchanges such as FTX, Bitget, ZT, Gat.io, and Bitrue

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Citizens of Georgia Made to Take An Holy Oath Not to Mine Crypto

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Citizens of Georgia Made to Take An Holy Oath Not to Mine Crypto
  • Free energy is available in certain regions of Georgia’s Svaneti mountains.
  • This year’s consumption was 237% more than in previous years.

For the sake of averting electricity shortages in Georgia, residents of Svaneti have been ordered to swear a holy oath not to mine crypto. Macrotrends show that from 2000 to 2019, tourist expenditure in Georgia’s northwest Svaneti area grew every year. The Covid-19 epidemic, on the other hand, sank tourism in 2020 and has only lately started to recover.

Hundreds of locals turned to crypto mining as a last resort, which has been blamed for causing major power outages. The local media outlet Sputnik Georgia cites a video showing miners cramming into a church on December 30, 2021, to swear an oath to St. George that they would not mine crypto in the future. Such promises have traditionally been regarded as unbreakable.

Such Consumption Termed “Unsustainable”

An electric firm that supplies power to crypto miners in the Svaneti town of Mestia has threatened to raise energy bills in response to complaints by local people. Free energy is available in certain regions of Georgia’s Svaneti mountains, making mining more appealing. Residents in nations where electricity is cheap to have complained about the influx of bitcoin miners. Kosovo and Kazakhstan have enacted bans on cryptocurrency mining.

A declaration by the Mestia municipality towards the end of 2021 said that crypto mining had a significant impact on Mestia’s electricity supply. This year’s consumption was 237% more than in previous years.

“Unsustainable” was Energo Pro’s word for the massive growth in consumption. When contacted by local journalists on January 5, the energy company revealed that the area was using 27 megawatts of electricity, about four times as much as the infrastructure could manage.

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DIA is the First Oracle to Integrate with Astar Network

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DIA is the first oracle provider to integrate its oracle infrastructure with the Astar Network, running on the Polkadot Relaychain. The oracle deployment will facilitate DeFi applications on Astar to easily connect to the outside world data.

The open-source data provider DIA announced today the integration of its decentralized oracle infrastructure with the Astar Network, running on the Polkadot Relaychain. This oracle deployment will facilitate DeFi applications on Astar to easily connect to the outside world data via DIA’s trusted oracles.

Astar Network, previously known as Plasm, is a dApp hub on Polkadot that supports Ethereum, WebAssembly, and layer 2 solutions like ZK Rollups. Astar Network won the 3rd Polkadot parachain auction on December 2, 2021, and onboarded to the Polkadot Relay Chain on December 18, 2021.

As the Polkadot Relay Chain doesn’t support smart contracts, Astar is working to provide a solution for all developers by parachain where EVM and WebAssembly smart contracts can co-exist and communicate with each other.

Thanks to Astar’s Ethereum and WebAssembly compatibility, DeFi applications can seamlessly be deployed on Astar’s parachain, where DIA will be able to feed them with accurate and transparent market data. DIA’s price feed oracles will fuel a range of use cases, such as lending and borrowing protocols, stablecoins, staking rewards and many more.

To build the data feeds, DIA simultaneously aggregates price data at a very trade level directly from centralized and decentralized exchanges. This decentralized approach to data sourcing enables DIA to provide accurate price feeds on-chain and reduce exposure to data manipulation.

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Bitcoin ATMs Shut Down In Singapore After MAS Curbs Crypto Advertising

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Financial service regulator – Monetary Authority of Singapore has issued fresh guidelines to limit crypto trading by the public. It has also taken a firm stance and asked cryptocurrency companies to eschew advertising or showcasing their products to the general public. MAS substantiated their decision by stating reasons which were purely risk-oriented.

The guideline stated and clarified that Digital Payment Token service providers “should not portray the trading of DPTs cryptocurrencies in a manner that trivializes the high risks of trading in DPTs, and should not promote their DPT services in public areas in Singapore or through any other media directed at the general public in Singapore”. 

“Highly Risky And Not Suitable For The General Public”

The Central Bank affirmed that such services are “highly risky and not suitable for the general public”. It implied that the broadcasting of cryptocurrency through traditional media such as newspapers and magazines must also cease to exist. 

On Tuesday, MAS declared that it would be outlawing crypto-to-cash terminals, thus, sealing all crypto ATMs in Singapore. Daenerys & Co,  which is one of the biggest crypto ATM operators with five crypto ATMs spread across the city had acted in accordance with the guidelines. Another rival ATM operator, Deodi also complied with the Central Bank’s order and ceased its only ATM. 

Related Reading | Intel To Present Low Voltage, Energy Efficient Bitcoin Mining Chip At Conference

This recent regulatory clamp from the MAS cropped up amidst the growing popularity of the blockchain industry with new investors joining the ecosystem each day. Although MAS quoted that “MAS strongly encourages the development of blockchain technology and innovative application of crypto tokens in value-adding use cases.”; the cryptocurrency market in Singapore continues to reel under a significant number of regulatory milestones.

Recently, Coincub, a fintech start-up in one of their rankings, called Singapore the world’s most friendly cryptocurrency economy. Singapore in the past had been quite liberal in terms of cryptocurrency adoption with an undemanding and positive legislative environment. Currently, the reality looks quite different, so to say.

Bitcoin's growth is concerning regulators | Source: BTCUSD on TradingView.com

MAS Believes Bitcoin ATMs Let People Trade “On Impulse”

MAS believes that ATMs facilitated a seamless and convenient transaction of cryptocurrencies such as Bitcoin and Ethereum. This could cause people to trade “on impulse”. This notion caused regulators to mandate the clampdown of ATMs all across the city.

In regards to crypto regulations, Singapore isn’t the only name on the list. In December 2021, Britain outlawed advertisements from seven such crypto firms as they were  “irresponsibly taking advantage of consumers’ inexperience and for failing to illustrate the risk of the investment”.

Spain had also led a crackdown on cryptocurrency promotions recently. Singapore’s regulatory escalation comes after Bitcoin’s prices nosedived almost 40% after BTC soared to new heights in November 2021. 

Related Reading | Green Energy: In NY, Bitcoin Mining Saved The Oldest Working Hydroelectric Plant

Cryptocurrency is not only a volatile asset but has also enabled a wide spectrum of fraud associated with digital assets. In recent times, cryptocurrency has facilitated money laundering and terrorism funding among other illegal activities.

“Digital payment token service providers in Singapore have to comply with requirements to mitigate such risks, including the need to carry out proper customer due diligence, conduct regular account reviews, and monitor and report suspicious transactions,” stated MAS spokesperson.

Featured image from iStockPhoto, Charts from TradingView.com
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