The native tokens of Metaverse projects kicked off 2023 with a strong start, outpacing their performance from the previous year. Among the biggest projects, SAND and MANA significantly outperformed Bitcoin in terms of one-month gains.
While Bitcoin, a leading cryptocurrency, saw a 40% increase this month, Ethereum and BNB experienced gains of 32%. However, the Metaverse tokens MANA and SAND captured investors’ attention with impressive rises of 152% and 90% respectively.
Decentraland’s native token, MANA, began the year at $0.29 and surged to as high as $0.80 within the month. Nevertheless, sales in the final days led to a slight retreat to $0.745.
Despite the lack of an increase in user numbers within the Decentraland application according to on-chain data, a series of positive developments in the Metaverse universe appears to have motivated investors to purchase MANA.
Concurrent with the surge in MANA, there were also upward movements in its biggest competitor, The Sandbox.
SAND kicked off the new year at a price of $0.375. Despite the Metaverse token soaring by 125% to $0.85 until the previous week, it is ending the month at $0.73, marking a 90% increase.
While there haven’t been significant developments for The Sandbox throughout the month, February is shaping up to be a critical period for the SAND token. In the upcoming days, some SAND tokens will be unlocked for long-term investors.
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