Ethereum Whale Transfers 9 Million MANA Tokens to Anonymous Account

An unknown whale has just recently transferred 9 million MANA tokens worth $51,103 (approximately Rs 38 lakh) to another anonymous account. Interest on the Metaverse is driving up the valuation for Decentraland’s in-world token aka MANA, and increasing interest in it and non-fungible tokens (NFTs) could help the token post big gains over the next few months.

According to data from CoinGecko, Decentraland’s MANA token is up about 66.6 percent in the past seven days of trading. It now has a market capitalization of approximately $7.48 billion (approximately Rs 55,755.38 crore) and is the 30th largest cryptocurrency by market cap.

Similar in essence to The Sandbox and Axi Infinity, Decentraland is a metaverse built on the Ethereum blockchain that allows users to buy, create and sell land in their virtual world. The metaverse has quickly become one of the hottest topics in the tech world, and growing interest and investment in the space is increasingly becoming a catalyst for the MANA token.

The overall cryptocurrency space remains extremely volatile, and the significant selloff for bitcoin, ether, and other major tokens over the past week highlights the fact that while mainstream adoption of crypto is increasing, there are still large price fluctuations. is ideal. Decentraland and MANA, on the other hand, have intriguing use cases, and cryptocurrencies backed by promising features and services could still make huge gains even if the broader markets are facing bearish pressure. MANA remains a very high-risk investment, but with the Metaverse revolution just starting to heat up, it should also come as no surprise that the token has climbed significantly above current pricing levels.

data from whalestates also show that the biggest ethereum whales on record are turning their attention to play-to-earn gaming projects such as Decentraland and Gala, which is also an ethereum-based metaverse altcoin, which has gained value after a recent listing on Coinbase. have increased.

Interested in cryptocurrency? We discuss all things Orbital with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.


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