Market Trends Highlight GameFi and Metaverse Tokens

You can also read this news on COINTURK NEWS: Market Trends Highlight GameFi and Metaverse Tokens

Recent surges in the cryptocurrency market have heightened interest in GameFi and Metaverse projects. Notably, The Sandbox (SAND) experienced over a 100% increase in just two days, drawing significant attention. Similarly, Decentraland (MANA), Gala (GALA), and Axie Infinity (AXS) also recorded substantial gains last week, with on-chain data suggesting that these trends may continue.

The Sandbox (SAND) and the Rise of Metaverse

The local token of The Sandbox, SAND, gained over 100% in value over a two-day period. This surge propelled SAND into the spotlight, surpassing established players like XRP and Cardano . On-chain analytics firm CryptoQuant reported that daily transaction counts for SAND hit a seven-day high of 11,597. Experts predict that this momentum could persist in the short term, with analysts like Wallstreet Queen highlighting the increased interest from traders through social media posts.

In addition to SAND, Decentraland (MANA) saw its price rise by over 67%, reaching $0.70. Technical analyses indicate that a breakout above this level could double the price. Solberg Invest prompted traders with the message, “Is the $MANA army ready for a comeback?”

Axie Infinity (AXS) and GALA Join the Rally

The native token of Sky Mavis’s blockchain-based game, Axie Infinity, AXS, gained 42% in value over the past week. Currently trading at $8.13, AXS increased its daily trading volume by 28% to $1.02 billion. Technical charts suggest that AXS might reach price targets of $28, $45, and $69. Analyst Vinci | DEEK noted this trend, stating, “$AXS is forming a double bottom, with targets set at $28, $45, and $69.”

Gala (GALA) also experienced strong gains last week, paralleling other Metaverse tokens. Investors believe that the GameFi sector holds significant growth potential in the coming period, with analysts affirming that technical indicators support this optimism.

The activity in GameFi and Metaverse sectors has fostered increased confidence in the industry. Market data and heightened trader interest highlight the future potential of these projects.

The post Market Trends Highlight GameFi and Metaverse Tokens appeared first on COINTURK NEWS.