Connect with us

Blockchain

MANA Under Sideways Motion In The Last 4 Months

Avatar Of Rajesh Khanna

Published

on

Mana
google news

The MANA relative strength index has shown growth which signals an increase in buying activity.

  •         New developments, partnerships in Decentraland contribute to price spike
  •         Decentraland social mentions amplified by 89.07%
  •         MANA price up by 1.04%

There are so many exciting developments happening for Decentraland (MANA), such as the partnership of StadioPlus with LaLiga, a Spanish football league giant.

The partnership allows LaLiga to feature themed plots of virtual land starred in Vegas City, which happens to own the biggest entertainment, games, and sports areas of Decentraland.

With that being said, a bullish reversal is possible, off-shooting the $0.84 barrier and peaking towards the $1.26 mark.

According to CoinMarketCap, MANA price has skyrocketed by 0.15% or trading at $0.7431 as of this writing.

MANA/USDT Pair: Sideways Rally

The MANA/USDT pair is observed on sideways motion in the last four months. With this rally trend, the $1.15 resistance is now a barrier to any bullish outbreak. However, the $0.756 to $0.74 support levels have set an accumulation of active bullish activity.

Following the retracement that occurred in the second half of August plus the massive sell-off in light of the flush of high CPI data, Decentraland’s price has diminished to the key support of $0.71. On the flip side, MANA has retested the support level many times, triggering a recovery.

At this point, the buyers can resuscitate the prices from the ground up and set a bull run at the key resistance of $0.756. But, in order to do, the buyer will need to snag the supply level of $0.84 to validate this rally.

On the other hand, a breach below the mark of $0.71 signals a downtrend which could lead to MANA losing its $0.71 support.

Decentraland Social Metrics Up 

Decentraland is stirring up enormous social engagement following its development announcements with LaLiga. Stephen Ibbotson, Head of Franchises and Licensing CEP said, “This licensing agreement will allow us to reach a new and significant audience, like that of Decentraland.”

The news has dramatically improved the numbers of Decentraland’s NFT. Decentraland social mentions were amplified by 89.07%.  Social engagement has also improved by 30.6%. More so, Decentraland’s NFT prices have also spiked to 1.66 ETH showing an increase of 9.42%.

Miles Anthony, Decentraland Games’ CEO and Co-Founder tweeted the huge improvement seen in Decentraland towards the end of the Q4.

“Yesterday, on day 2 of ICE Poker Flex being live, we hit all-time highs of 614 DAU (Daily Active Users) and 593 tournaments played”, Anthony said.

MANA total market cap at $1.37 billion on the daily chart | Source: TradingView.com

Featured image from Binance Academy, Chart: TradingView.com

(The analysis represents the author's personal views and should not be construed as investment advice).

google news
Advertisement

Blockchain

CryptoPunks NFT 2924 Sold for 3,300 ETH ($4.45 Million)

Avatar Of Rajesh Khanna

Published

on

Cryptopunks Nft 2924 Sold For 3,300 Eth ($4.45 Million)
google news
  • NFT hoarder “seedphrase” sold the CryptoPunk NFT. 
  • To date, punk #5822 has fetched the highest price for a CryptoPunk.

A million dollars was a common price tag for NFTs during the recent craze. It seemed that the brakes had been put to the market, since recent circumstances had remained turbulent. Despite this, one user paid 3300 ETH for a CryptoPunks NFT.

The latest shocking event is the $4.45 million sale of CryptoPunks 2924. It’s worth noting that this is one of NFT’s biggest-ever deals. NFT hoarder “seedphrase” parted with the CryptoPunk NFT. According to the NFT’s blockchain transaction history, it was last traded in November of 2020 for 150 ETH [$71,403 at the time].

Despite Sluggish NFT Market

To date, punk #5822 has fetched the highest price for a CryptoPunk. In February of this year, Deepak Thapliyal, CEO of Chain, paid almost $23 million for the alien-style punk. The price tag was far more than that of the next highest-earning punk by a wide margin. The deal almost broke the record for the biggest selling NFT ever, falling short by a few million.

Over the previous 24 hours, sales of CryptoPunk have increased by almost 348%. Therefore, at the time of publication, it was the best-selling compilation overall. Next to them was the Bored Ape Yacht Club, and then came the Mutant Ape Yacht Club. Approximately 13% and 52% daily sales increases were seen for the aforementioned collections.

The NFT market is still in its downturn phase, notwithstanding the sales recovery seen over the last day. Bloomberg reported data from Dune Analytics showing that, compared to January of this year, NFT trading volumes had dropped by 97%.

Recommended For You:

Top French Fashion House Introduces NFT Membership on XRP Ledger

google news
Continue Reading

Blockchain

Chainlink and SWIFT Collaborate on a Cross-Chain Protocol

Avatar Of Rajesh Khanna

Published

on

Chainlink And Swift Collaborate On A Cross-Chain Protocol
google news