Metaverse Mania Drives Decentraland (MANA) Price to 9-Month High

BE[IN]CRYPTO11-25 17:00

Decentraland (MANA) registered a 70% price increase in the last seven days as Metaverse tokens recovered. The price hike could be linked to a surge in active addresses with volume rising toward $2 ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMetaverse Mania Drives Decentraland (MANA) Price to 9-Month High\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-25 17:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://beincrypto.com/metaverse-mania-drives-mana/><strong>BE[IN]CRYPTO</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Decentraland (MANA) registered a 70% price increase in the last seven days as Metaverse tokens recovered.\nThe price hike could be linked to a surge in active addresses with volume rising toward $2 ...</p>\n\n<a href=\"https://beincrypto.com/metaverse-mania-drives-mana/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MANA","symbol_name":"Grayscale Decentraland Trust (MANA)","start_time":0,"source_url":"https://beincrypto.com/metaverse-mania-drives-mana/","article_id":"2486705734","we_media_id":null,"thumbnails":["https://beincrypto.com/wp-content/uploads/2024/06/bic_Decentraland_MANA_2-covers_neutral-850x478.jpg.webp"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486705734","pubTimestamp":1732525200,"sourceInfo":{"source_id":"beincrypto_highlight","name":"BE[IN]CRYPTO"},"weMediaInfo":null,"summary":"Decentraland  registered a 70% price increase in the last seven days as Metaverse tokens recovered.MANA, however, faces resistance at $0.70, with on-chain analysis suggesting that it could decline to $0.61.MANA, Decentraland’s native cryptocurrency, has seen an impressive 70% price increase over the past week. This MANA crypto price surge is part of a broader rally in Metaverse-related tokens, which has caught the attention of the market.The recent rally in MANA crypto price can be attributed to a significant increase in the token’s active addresses, which indicates heightened user interaction on the blockchain. Interestingly, this also matches the condition of The Sandbox , which was also one of the frontrunners of the Metaverse revival.On November 20, MANA’s active addresses were around 810. Fast-forward a few days, and this figure has surged nearly fivefold, reflecting a growing interest in the token. This spike in activity likely provided the momentum for MANA’s price to climb from","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"MANA":"Grayscale Decentraland Trust (MANA)","SAND":"沙尘暴黄金","BK4017":"黄金"},"translate_title":"元宇宙狂热推动Decentraland(MANA)价格创9个月新高","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MANA":1,"SAND":1},"content_text":"Decentraland (MANA) registered a 70% price increase in the last seven days as Metaverse tokens recovered.\nThe price hike could be linked to a surge in active addresses with volume rising toward $2 billion as of today.\nMANA, however, faces resistance at $0.70, with on-chain analysis suggesting that it could decline to $0.61.\n\nMANA, Decentraland’s native cryptocurrency, has seen an impressive 70% price increase over the past week. This MANA crypto price surge is part of a broader rally in Metaverse-related tokens, which has caught the attention of the market.\nWhile the development might have surprised some, a closer look by BeInCrypto provides insights into the catalysts behind this movement. This on-chain analysis looks at what could be next for the token. \nDecentraland Active Addresses, Volume Reach New Heights\nThe recent rally in MANA crypto price can be attributed to a significant increase in the token’s active addresses, which indicates heightened user interaction on the blockchain. Interestingly, this also matches the condition of The Sandbox (SAND), which was also one of the frontrunners of the Metaverse revival.\nActive addresses measure the number of unique users successfully completing transactions. A rise in this metric signals increased engagement with the network, which is often considered bullish for a cryptocurrency. Conversely, a decline implies reduced traction, which is typically seen as bearish.\nOn November 20, MANA’s active addresses were around 810. Fast-forward a few days, and this figure has surged nearly fivefold, reflecting a growing interest in the token. This spike in activity likely provided the momentum for MANA’s price to climb from $0.40 to $0.70 — the highest level since March.\nDecentraland Active Addresses. Source: CryptoQuant \nFollowing the development, Santiment data showed that MANA’s volume climbed to $1.57 billion. Volume represents the total value of a specific cryptocurrency traded over a defined period.\nThis metric reflects a coin’s level of activity and liquidity. A high trading volume indicates notable buying and selling, which often suggests strong market participation. On the other hand, low volume may signify reduced activity, leading to weaker market interest.\nTherefore, the hike in the token’s volume validated the signs shown by the active addresses. However, since MANA’s price has dropped from its recent peak, it could be challenging to keep up with the uptrend, with this analysis suggesting that another pullback could be close.\nDecentraland Volume. Source: Santiment \nMANA Price Prediction: Pullback Imminent\nFrom an on-chain perspective, the MANA crypto price rally might have hit a local top. This prediction is based on the signs shown by the In/Out of Money Around Price (IOMAP).\nThe IOMAP is a key metric that analyzes the distribution of cryptocurrency holders based on whether their holdings are in profit, loss, or at breakeven. It also provides insights into potential support and resistance levels in the market.\nWhen there are large clusters “out of the money,” this indicates addresses holding at a higher price than the current market value. Such areas often act as resistance. Conversely, Large clusters “in the money” typically act as support, as holders may buy more or hesitate to sell, expecting further price gains.\nFor MANA, approximately 36.47 million tokens held by addresses that accumulated near $0.70 are currently “out of the money.” This volume surpasses the tokens held between $0.61 and $0.68, marking that range as a key resistance zone.\nDecentraland In/Out of the Money. Source: IntoTheBlock\nAs such, the MANA crypto price might experience retracement. If that is the case, then the cryptocurrency’s value could drop to $0.61 in the short term. \nHowever, if buying pressure increases and volume outpaces the one at $0.70, this might not happen. Instead, MANA could climb to $0.80.\n\n\n\n\nTop crypto platforms | November 2024\n\n\n\nChainGPT\nExplore\n                      \n\n\n\n\n\nBYDFi\nNo KYC \n                      \n\n\n\n\n\nMargex\nExplore\n                      \n\n\n\n\n\nСoinex\nExplore\n                      \n\n\n\n\n\n\n\n\nTop crypto platforms | November 2024\n\n\nChainGPT\n\n\n\n\n\n\n\n\nBYDFi\n\n\n\n\n\n\n\n\nMargex\n\n\n\n\n\n\n\n\nСoinex","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"Business Data","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2486705734"}