As of the time of this writing, cryptocurrency prices have seen a slight uptick, with major cryptocurrencies experiencing a marginal increase in the early trading hours of Tuesday, December 13, 2024. The global crypto market cap stood at $848.03 billion, marking a 0.83% rise from the previous day. Notably, Bitcoin and Ethereum witnessed gains of 1.45% and 2.10%, respectively.
However, leading Metaverse tokens like ApeCoin, Decentraland, and The Sandbox are currently trading in the red. In this context, this article aims to explore three Metaverse tokens that are experiencing a downturn but are considered worthwhile investments during the dip.
The selection of these cryptocurrencies is based on criteria such as their utility, robust financial backing, and the patterns of token transfers up to the current date. This leads to the question: Is this the opportune moment to buy the dip?
Not Investment Advice
1.Apecoin (APE)
ApeCoin is currently trading at $4.03, witnessing a decline of 6.52% over the last 24 hours. The metaverse coin has recorded a trading volume of $269,824,043. As per CoinMarketCap, ApeCoin ranks 30th with a live market cap of $1,455,674,698. The cryptocurrency has a maximum supply of 1,000,000,000 APE tokens. Over the past week, ApeCoin’s price has seen an approximate increase of 5.95%, and over the last month, it has surged by 51.31%.
The excitement surrounding ApeCoin (APE) has been further fueled by the announcement of its staking rewards, attracting attention from various crypto communities. Users can earn rewards by participating in any of the four staking pools, one method being the purchase of APE to contribute to a pool.
Since the introduction of ApeCoin’s staking, there has been an uptick in demand for APE, contributing to a price increase. It’s important to note that staking can influence the price fluctuations of cryptocurrencies, as it is subject to the market forces of supply and demand.
Decentraland (MANA)
Decentraland is currently trading at $0.377683, experiencing a slight decrease of 0.18% over the last 24 hours. The trading volume for this asset during the same period is $26,615,920. With a live market capitalization of $700,634,261, Decentraland currently holds the 56th rank on CoinMarketCap.
The total maximum supply of MANA, Decentraland’s native token, is not disclosed. Notable companies that have invested in Decentraland include Republic Realm, Samsung 837X, and Sotheby’s. Established in 2017, Decentraland is among the more established projects in the metaverse domain. As of October 24, it was ranked as the third-largest metaverse token by market capitalization.
3.The Sandbox (SAND)
The Sandbox is currently being traded at $0.551138, marking a slight decrease of 0.43% over the last 24 hours. The metaverse token’s trading volume stands at $75,106,148. With a live market capitalization of $826,415,252, The Sandbox holds the 49th position on CoinMarketCap.
The maximum supply of SAND, the native token of The Sandbox, is set at 3,000,000,000 coins. Over the last week, the price of Sandbox has dropped by approximately 8.92%, and it has seen a decline of 35.75% over the past six months.
In terms of virtual reality (VR), The Sandbox project is exploring the concept of the metaverse. Primarily a game, The Sandbox has garnered support from established gaming brands such as Atari, which may assist it in navigating through challenging market conditions.
Another positive aspect of this project is its limited cryptocurrency supply, capped at 3 billion tokens, with 1.5 billion currently in circulation. The growing popularity of “The Sandbox” has led to several partnerships and land purchases on the platform by entities like the British multinational bank HSBC, Standard Chartered Bank (Hong Kong), and PricewaterhouseCoopers (PwC).
It’s important to note that the information provided in the article is for informational purposes only and should not be considered as investment advice. The author and cryptoparahaber.com are not liable for any profit or loss incurred from investments based on this information. Investment decisions should be based on knowledge, experience, research, and personal judgment.
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