Investment firms direct capital in Decentraland
Decentraland is the favorite of institutional investors. The metaverse cryptocurrency MANA has seen an increase in investment firm inflows. Grayscale’s Decentraland Trust has attracted high net worth investors and institutions for the past nine months.
- Investors are rushing to seize virtual land in the Decentraland metaverse.
- Analysts criticize Sandbox for copying the Decentraland metaverse in many ways, viewing MANA as a dominant metaverse token.
- As the price of Bitcoin struggles to recover from a drop below $ 57,000 USD, capital is turning into the Sandbox and Decentraland.
- Grayscale Decentraland Trust now manages $ 64.9 million in MANA tokens.
Decentraland dominates Metaverse with capital inflow from institutional investors
Institutional investors have started investing capital in Decentraland as the Metaverse gains popularity. Grayscale Decentraland Trust, an investment product for high net worth investors and institutions, invests only in the MANA cryptocurrency.
The Trust has invested more than $ 64.9 million in Decentraland tokens, allowing investors to gain exposure to MANA as a security without having to buy, store and hold the cryptocurrency.
Tokens.com recently purchased 116 parcels of digital real estate from Decentraland for $ 2.52 million.
Decentraland ranked second behind Sandbox in total volume traded over the past week. However, the 10 most expensive Metaverse sales ranged from $ 758,250 to $ 220,000 USD on Decentraland. Metaverse’s total trading volume was $ 1.4 billion in the last 24 hours.
Decentraland’s price has posted gains of 16% in the past 24 hours as the capital shift from Bitcoin to the MANA cryptocurrency continues.
Analysts use the Decentraland and Sandbox price trends as an indicator of the metaverse tokens. Decentraland price rebounded from the lightning crash on December 4, and analysts noted a hidden bullish divergence on the Metaverso token.
Decentraland (MANA) cryptocurrency price has made a massive rally attracting new investors to the metaverse token.
Analysts at FXStreet assessed the price trend of the Decentraland (MANA) cryptocurrency and predicted that the metaverse token could eventually rise to $ 5, with a break above $ 4.50 providing confirmation.
By Ekta Mourya, FXStreet
Ekta Mourya is currently pursuing her MBA in Finance. He has been working in the field of cryptocurrencies since 2017. He has held positions in the marketing team of major Indian crypto exchanges Koinex and CoinDCX. She is interested in day trading and the derivatives market.
The opinions expressed here are solely those of the author and do not necessarily reflect the views of Forex Quebec. Every investment and business move carries risk, you need to do your own research when making a decision.
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Disclaimer: The information and opinions in this report are provided for general information only and do not constitute an offer or a solicitation to buy or sell currency or CFD contracts. Although the information contained in this document has been taken from sources considered reliable, the author does not guarantee its accuracy or completeness, and does not assume any responsibility for any direct, indirect or consequential damages that may result from the fact that someone trusts such information.
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