Metaverse Tokens Lead Market Growth; BTC options at expiration

The Metaverse has been the hottest trend in tech last month and tokens attached to the Metaverse projects show that growth with Sandbox’s SAND and Decentraland’s MANA have both increased by over 600% over the past month. last month to hit all-time highs of US $ 8.51 and US $ 5.90 yesterday, respectively, according to CoinMarketCap.

Fast facts

  • The Sandbox is a platform built on the Ethereum blockchain that allows users to explore a virtual world using non-fungible tokens (NFTs), and is part of a suite of games invested by the Hong-based unicorn. Kong Animoca Brands, one of the leading investors behind the hit game Axie Infinity. SAND recently received another bullet in the arm as sportswear giant Adidas tweeted that it was develop an “adiVerse” with the platform, the price of which has gained more than 100% in the few days following the single announcement.
  • Decentraland has seen such growth during this period that its market cap of $ 8.9 billion has even surpassed Axie Infinity’s governance token, AXS, to $ 8.2 billion at the time of publication. according to CoinMarketCap. After exploding in popularity earlier in the year as a disruptive model of up-and-coming games, Axie Infinity user growth slowed as concerns grew over the long-term profitability of its in-game token. , SLP.
  • “We’re getting a lot of media attention around the metaverse,” said Blake Cassidy, CEO of Australian micro-investment firm Bamboo. Forkast. News, explaining why there has been such growth in the metaverse token market recently. “Facebook and Zuckerberg, they want to start their own metaverse, they changed their name to Meta, and it just draws more attention to the space and people start to say, ‘Well, maybe this is it. ‘to come up. “And then, of course, the speculators come to look at what already exists and participate in these ecosystems.”
  • Adidas also recently announced another crypto-related partnership, sarcastically tweet the new partnership with Coinbase, the largest exchange in the United States, was “probably nothing”. Although the details are still clear, some speculated that it might be a step towards Adidas accepting cryptocurrency for its products and further integration with NFTs. But while Adidas’ involvement helped push SAND’s price even higher, the same can’t be said for Coinbase’s stock price, which has fallen for most of this month. After a strong performance in November, shares of Coinbase – traded on the Nasdaq under the symbol COIN – have lost around 12% in the past few weeks and were trading at US $ 314 outside of trading hours on Thursday, according to MarketWatch.
  • SAND was trading at US $ 6.94 and MANA at US $ 4.89 at time of publication, according to CoinMarketCap.
  • Elsewhere in the market, some industry watchers expect Bitcoin’s price volatility to increase soon, as major exchanges are due to settle monthly options totaling nearly US $ 3 billion on Friday, with the Deribit exchange settling. 2.6 billion US dollars on that alone, according to a recent tweet by the firm.

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