During the first month of 2023, the top two major cryptocurrencies, Bitcoin and Ethereum, experienced double-digit appreciation against the US dollar. Meanwhile, several alternative cryptocurrencies saw even larger increases in value, with metabarstokens such as Decentraland’s MANA and The Sandbox’s SAND rising 92-150% against the US dollar.
Metaverse crypto assets outperform Bitcoin and Ethereum
Metaverse crypto assets outperformed bothBitcoin (BTC)andEthereum (ETH)the leading crypto asset and top smart contract token, respectively. Over the past month, Decentraland’s. MANA token has been the top performer, gaining 150% against the USD. In the past two weeks, MANA has gained 7.3%, and in the past seven days it has gained 2.9%; on January 31, 2023, one MANA was trading between $0.716 and $0.755.
The Sandbox’sSANDmetabar token has increased 92% over the past 30 days and 5% over the past two weeks. However, despite the 30-day increase, the 7-day index shows a 7.5% decrease in SAND. On Tuesday, SAND was trading at 24-hour spot prices ranging from $0.710 to $0.741 per unit. Another top performer among metabar stock tokens over the past month was Axie Infinity’s; AXSwhich was 80% higher than the previous month. Over the past two weeks, AXS has gained 21.5%, while last week it fell 11.4%. On Tuesday, the AXS was trading at prices ranging from $10.55 to $11.23 per coin.
Following Axie Infinity’s AXS price increase over the past month, the Apecoin project’s. APEtoken rose 63.3% over the same period.APE has risen 19.4% in the past two weeks rise, 5.5% of which occurred in the past week. At the time of this writing, each APE is trading at prices ranging from $5.71 to $5.96 per coin. ICP, a token associated with the Internet Computer Project, has also risen; ICPhas also risen 48.9% over the past 30 days; ICP has risen 16.5% over the past two weeks; on January 31, 2023, ICP traded between $5.65 and $5.96 over the past 24 hours. It had traded between $5.88 and $5.88.
A significant number of other metaverse tokens have also seen a similar pattern of value appreciation this month as artificial intelligence (AI)-related cryptocurrencies; AI-based cryptocurrencies have seen even larger gains compared to metaverse-related coins. However, metaverse-focused crypto assets still performed better than the top two cryptocurrencies, withBitcoin (BTC)up 40% this month andEthereum (ETH)up 33.5%.
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