{"id":16519,"date":"2023-01-20T15:52:54","date_gmt":"2023-01-20T19:52:54","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=16519"},"modified":"2023-01-20T15:52:54","modified_gmt":"2023-01-20T19:52:54","slug":"decentraland-mana-swells-55-are-metaverse-tokens-back","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/20\/decentraland-mana-swells-55-are-metaverse-tokens-back\/","title":{"rendered":"Decentraland (MANA) Swells 55% \u2013 Are Metaverse Tokens Back?"},"content":{"rendered":"

MANA is the native token of the Decentraland ecosystem which, as the time of writing, has seen growth enough to recoup losses post-FTX collapse. According to CoinGecko<\/a>, the token is up 55% in the weekly timeframe with the biggest gains made during the monthly time frame at 105%.\u00a0<\/p>\n

With 2023 showing a renewed interest in crypto, Decentraland has a lot to unpack this month for users, traders, and investors as they released their manifesto<\/a> detailing plans to improve user experience and making it easier for creators to enter the world of the metaverse with ease.<\/p>\n\n

The Decentraland Manifesto<\/strong><\/h2>\n

The Decentraland team recently posted on their blog<\/a> about how this year would be the \u201cYear of Creators.\u201d According to Decentraland, it will continue its mission it set itself from the start of 2017: to establish a decentralized platform where users can help build and grow.<\/p>\n

The blog post said:<\/p>\n

\u201cDecentraland, anyone can extend the capabilities of the virtual world\u2019s platform, audit it, contribute to it, and build on top of it\u2014all the code is open source<\/a>. To that end, in 2023 Decentraland will continue to be developed as a public good in the era of the internet.\u201d\u00a0<\/strong><\/p>\n

The manifesto detailed several goals that the ecosystem wants to achieve this year. Namely, the developers aim to achieve a better environment for creators, to make Decentraland more fun, and to make the performance of the ecosystem better.\u00a0This would drive the platform to become a dominant player in the metaverse space.\u00a0<\/p>\n

In the 18 months since its birth, Decentraland\u2019s DAO has developed into a basic decision-making system for high-level deliberations concerning the Decentraland ecosystem and the metaverse in general.<\/p>\n

In order to address the growing demand for governance and stewardship of progressive decentralization, the DAO\u2019s procedures and processes have continued to expand with the community\u2019s increasing self-governance experience and strength, according to the manifesto.<\/p>\n

What Does This Mean For MANA?<\/strong><\/h2>\n

As the time of writing, MANA is changing hands at $0.6210 with the token being rejected at $0.7567. This led to the token retesting its current support at $0.6352 which, if broken, could lead the bears to test further support ranges in the next few days or weeks.\u00a0<\/p>\n

If the token buckles under the rejection, we might see MANA at $0.5397 support which could easily be breached. However, with the detailed roadmap provided by the devs, MANA will have a strong enough investor sentiment that it will retest $0.7567 once the rejection reaches its bottom.\u00a0<\/p>\n\n

Investors and traders should brace for short to mid term volatility as the token tries to consolidate above $0.6352. If MANA bulls are successful in entrenching the token above $0.6352, investors and traders will have another chance to target $0.7567 or higher.\u00a0<\/p>\n

As the development of Decentraland continues, expect MANA to reach new highs this year.\u00a0<\/p>\n

Featured image by Coinspeaker<\/em><\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

MANA is the native token of the Decentraland ecosystem which, as the time of writing, has seen growth enough to recoup losses post-FTX collapse. According to CoinGecko<\/a>, the token is up 55% in the weekly timeframe with the biggest gains made during the monthly time frame at 105%.\u00a0<\/p>\n

With 2023 showing a renewed interest in crypto, Decentraland has a lot to unpack this month for users, traders, and investors as they released their manifesto<\/a> detailing plans to improve user experience and making it easier for creators to enter the world of the metaverse with ease.<\/p>\n

The Decentraland Manifesto<\/strong><\/h2>\n

The Decentraland team recently posted on their blog<\/a> about how this year would be the \u201cYear of Creators.\u201d According to Decentraland, it will continue its mission it set itself from the start of 2017: to establish a decentralized platform where users can help build and grow.<\/p>\n

The blog post said:<\/p>\n

\u201cDecentraland, anyone can extend the capabilities of the virtual world\u2019s platform, audit it, contribute to it, and build on top of it\u2014all the code is open source<\/a>. To that end, in 2023 Decentraland will continue to be developed as a public good in the era of the internet.\u201d\u00a0<\/strong><\/p>\n

The manifesto detailed several goals that the ecosystem wants to achieve this year. Namely, the developers aim to achieve a better environment for creators, to make Decentraland more fun, and to make the performance of the ecosystem better.\u00a0This would drive the platform to become a dominant player in the metaverse space.\u00a0<\/p>\n

In the 18 months since its birth, Decentraland\u2019s DAO has developed into a basic decision-making system for high-level deliberations concerning the Decentraland ecosystem and the metaverse in general.<\/p>\n

In order to address the growing demand for governance and stewardship of progressive decentralization, the DAO\u2019s procedures and processes have continued to expand with the community\u2019s increasing self-governance experience and strength, according to the manifesto.<\/p>\n

What Does This Mean For MANA?<\/strong><\/h2>\n

As the time of writing, MANA is changing hands at $0.6210 with the token being rejected at $0.7567. This led to the token retesting its current support at $0.6352 which, if broken, could lead the bears to test further support ranges in the next few days or weeks.\u00a0<\/p>\n

If the token buckles under the rejection, we might see MANA at $0.5397 support which could easily be breached. However, with the detailed roadmap provided by the devs, MANA will have a strong enough investor sentiment that it will retest $0.7567 once the rejection reaches its bottom.\u00a0<\/p>\n

Investors and traders should brace for short to mid term volatility as the token tries to consolidate above $0.6352. If MANA bulls are successful in entrenching the token above $0.6352, investors and traders will have another chance to target $0.7567 or higher.\u00a0<\/p>\n

As the development of Decentraland continues, expect MANA to reach new highs this year.\u00a0<\/p>\n

Featured image by Coinspeaker<\/em><\/p>\n

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