- Apple’s launch of VR later this year could set another bullish tone for MANA.
- Trading volumes have fallen, but so have the reasons for the selling pressure.
In 2021, the metaverse and virtual reality conversations have peaked, even in the crypto space. This hyped up story is one of the reasons I love tokens. Decentraland [MANA] When sandbox [SAND] Reached a sizable all-time high (ATH).
how much Today’s value is 1,10,100 MANA?
However, unfavorable market conditions seem to have derailed the effort, as many of these tokens fell significantly from their peaks.But in the new situation, Bloomberg’s 23 January new report Revolving around Apple’s virtual reality (VR) devices could provide a breath of fresh air.
More MANA falling in the midst of it…
The device, which is billed to be released later this year, has a lot to look forward to, with MANA investors hoping for its positive results. But why mana?
The Decentraland project is built around virtual reality experiences and its tokens are ethereum [ETH] blockchain. In 2023, MANA has followed the rest of the market, building an incredible 118.49%. price increase Last 30 days. So with the upcoming VR launch, will MANA once again exceed expectations?
On the daily timeframe, the Exponential Moving Average (EMA) showed that MANA could be higher in the long run. This is because the 200 EMA (purple) was placed above both the 20 (blue) EMA and the 50 (yellow) EMA. Based on crossovers and divergences, the stance indicated that MANA price action could switch to bullish.
Does the opportunity provide itself?
However, it is not certain whether the green is due to Apple’s influence.At the same time, especially if AI-linked tokens Fetch.ai [FET] followed by an increase in Adoption of ChatGPTAs such, MANA could rise as Apple plans a cheaper version of the device in late 2024.
Realistic or not, here it is MANA’s market capitalization is converted to BTC
Meanwhile, Apple isn’t the only technology company involved in building VR products. Led by Mark Zuckerberg, Meta has been on its way for some time. That said, there have been no notable breakthroughs from the company’s side that Metaverse could benefit from his token.
Moreover, one of the reasons MANA has risen in the last few weeks is due to its volume. Token Trading Volume Exceeds $1 Billion, According To Santiment Several times During the period.
However, at the time of writing the article, it has decreased to 230.37 million. This decline meant that investors were trading through the Decentraland network.
The MVRV ratio has dropped to 46.01%, meaning that holders have not made much profit recently. However, the state of the MVRV ratio also points to a period of accumulation in which selling pressure incentives may be waning. As such, tokens like MANA may get a boost as the metaverse technology market expands.