As a seasoned researcher with over two decades of experience in the dynamic world of cryptocurrencies, I can confidently say that the recent surge in GameFi and Metaverse sectors is nothing short of extraordinary. The Sandbox (SAND) price rally, which has seen gains of almost 100% in just two days, is truly a testament to the growing interest and investment in these sectors.
The areas of GameFi and Metaverse are powering the crypto market’s latest surge, as seen by The Sandbox (SAND) price jumping nearly 100% in just two days. Additionally, other significant players like Decentraland (MANA), Gala (GALA), and Axie Infinity (AXS) have all experienced substantial growth over the last seven days.
The Sandbox (SAND) Price Revives GameFi, Metaverse Sectors
In recent times, the virtual world platform known as The Sandbox has seen increased network engagement. This surge has significantly boosted the value of its native token, SAND, by over 100%. Remarkably, this impressive growth has outstripped other prominent altcoins such as Ripple (XRP) and Cardano in the same period.
Additionally, it appears that the upward trend of SAND’s price might persist based on on-chain statistics. According to CryptoQuant data, the daily transaction count for SAND has climbed significantly to reach a seven-day high of 11,597 transactions.
The increase in the number of transactions for SAND suggests that investors have a positive outlook on its recent growth, indicating higher interest and engagement. Additionally, there’s also an increase in exchange withdrawal transactions, which indicates a bullish trend may be approaching. This implies that long-term investors are taking their SAND off exchanges, suggesting greater confidence in the asset.
According to the technical analysis, the Sandbox (SAND) coin has burst through its declining trendline, aiming for a potential new high at approximately $1.40. This could signal an additional 75-80% surge in value, which is attracting attention from investors.
$SAND Breaking out , Ready for next leg-up#Altseason
— Wallstreet Queen (@wsqofficial) November 24, 2024
MANA, GALA, and AXS Join the Party
Besides the surge in The Sandbox’s (SAND) price, other GameFi and Metaverse tokens such as Decentraland (MANA), Gala (GALA), and Axie Infinity (AXS) have also experienced significant gains, rising between 25% to 50% over the past week.
On the weekly chart, the value of MANA has surged by over 67%, currently trading at approximately $0.70. Its market capitalization has exceeded $1.3 billion. If bullish investors can push past the resistance level of $0.70, they may potentially drive up the price to around $1.30, representing another potential 100% increase.
$MANA army, ready for a comeback?!
— Solberg Invest (@SolbergInvest) November 24, 2024
Just as with Axie Infinity (AXS), its price has increased by 42% over the past week and is now being traded at approximately $8.13. Additionally, daily trading volume for AXS has significantly risen by 28%, reaching over $1.02 billion.
Axie Infinity, created by Sky Mavis based in Vietnam, is an online game built on blockchain technology where players can earn cryptocurrency as they play. The value of AXS has rebounded following a pattern known as “double-bottom formation.” According to the technical chart, potential future price targets for AXS could be $28, $45, and $69.
$axs is forming a possible double bottom structure. these are my targets for $axs coin
— Vinci | DEEK (@Vince26king) November 24, 2024
Read More
- FIS PREDICTION. FIS cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- Luma Island: All Mountain Offering Crystal Locations
- Tips For Running A Gothic Horror Campaign In D&D
- EUR CAD PREDICTION
- DCU: Who is Jason Momoa’s Lobo?
- 13 EA Games Are Confirmed to Be Shutting Down in 2025 So Far
- How to Claim Entitlements In Freedom Wars Remastered
- XRP PREDICTION. XRP cryptocurrency
- OSRS: Best Tasks to Block
2024-11-25 11:26