Decentraland’s MANA Stays Bullish Over the Last 24 Hours

MANA, the token on the virtual destination for digital assets — Decentraland, has been bullish over the last 24 hours. Presently, the price of Decentraland (MANA) stands at $1.28, according to CoinMarketCap. This means that the asset is up by a total of 60.30% in the last 24 hours.

At the time of writing, the asset has a total market cap of $2,358,766,076. More so, it is seeing a 24-hour trading volume of $3,461,986,958.82. Most interestingly, both these numbers are rising fast at this highly bullish time.

Decentraland is a virtual reality platform. In detail, users can enter this visual world to purchase plots of visual land. Once bought, they can navigate and build on their land. Their goal will be to eventually monetize their plot.

To highlight, Decentraland came out in 2017 after a $24 million Initial Coin Offering (ICO). MANA is one of two tokens available on the platform and is an ERC-20 token. LAND is the other native token on the platform.

In particular, Decentraland runs on the Ethereum platform. Currently, Ethereum is on its way to transitioning from a Proof-of-Work consensus to a Proof-of-Stake (PoS) consensus. This is part of its plan to become the superior Ethereum 2.0 blockchain.

Meanwhile, Ethereum’s token — Ether (ETH), just hit a new all-time high (ATH). Remarkably, it set the record high of $4.416.05, according to CoinGecko. Some analysts are expecting the price of Ethereum (ETH) to go up to $5,000 by the end of this year. In fact, some expect ETH to hit $10,000.

On the other hand, Bitcoin (BTC) is also making steady headway. On this asset, analysts expect it to hit $100,000 by Christmas time this year. Others say it will go much higher and when it does it will take the price of altcoins with it as well.

Suffice to say, the latest Altair update is certainly bringing ETH the attention it is seeking. Perhaps we shall see the price soar even further once the transition to Ethereum 2.0 is complete. When it does, projects running on its blockchain like Decentraland, could also see a rise in its native assets as well.

Source: https://coinquora.com/decentralands-mana-stays-bullish-over-the-last-24-hours/