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The Mars Token price has been in consolidation mode over the past few days as investors assess the future of the coin. The MRST is trading at $0.0552, its highest level since Wednesday. This price is about 81% below the high for the month.
The metaverse industry is expected to experience significant growth over the next few years. Mainstream companies such as Facebook and Nvidia have all announced metaverse strategies.
Mars Labs is the company building metaverse gaming products on Polygon’s network. Polygon is the world’s largest Layer 2 network. It helps speed up applications built on Ethereum, helping reduce transaction costs and improve speed.
This game in development by Mars Labs is themed around the Red Planet. In it, the player enjoys activities within the planet, plays games, acquires virtual real estate and communicates with his members of the community.
The MARS token will be the native token of the ecosystem, similar to how SAND is used to power The Sandbox. Initially, the coin will have a supply limit of 5 billion coins. Tokens are burned to help reduce that supply.
Even after a string of good news, MRST prices retreated. for example, OKXone of the largest crypto exchange in the world. OnePlanet has also launched a contest where users can win thousands of his MATIC. KLAYswap also had a giveaway offering his 30,000 MRST to participants.
So, will the Mars Token price recover? There are several reasons why it can recover. First, the network has an active community of thousands of fans. That Twitter account has earned him over 96,000 followers. Second, the price is likely to rebound as it gets listed on more exchanges. Finally, there is potential for momentum towards the launch of the metaverse in 2023.
MRST/USD chart created by TradingView
The hourly chart shows that the price of MRST has been in a correction phase in the last few days. This may indicate that you are in the price discovery stage. The coins form a symmetrical triangular pattern shown in black. It is also consolidating at the 25-day moving average.
Therefore, Mars tokens may break out or break out soon. In case of a bullish breakout, the coin will rise to the key resistance level of $0.60.
OKX
OKX is a top cryptocurrency exchange offering over 140 cryptocurrencies for investment. OKX takes customer security very seriously, keeps almost all customer funds in cold storage, and the exchange has not yet been hacked. In addition to this, the exchange offers very low fees and customers can even use crypto as collateral for loans on the platform.
Buy MRST on OKX now
