The recent uptrend in the cryptocurrency market has extended to metaverse and NFT altcoins such as The Sandbox (SAND), Decentraland (MANA), and Gala (GALA), which have seen over 10% increases on the Binance exchange. This indicates that investors are turning their attention to metaverse coins.
Investors Turn to Alternative Altcoins Beyond Major Cryptos and Meme Coins
SAND, MANA, and GALA, highlighted by intermittent whale accumulation alerts from leading on-chain data providers like Lookonchain, have shown over 10% increases on Binance.
This surge points to a tangible shift in investor interest within the cryptocurrency space, moving away from majors like Bitcoin (BTC) and Ethereum (ETH). The recent meme coin frenzy has not significantly hindered this transition.
Rise of Metaverse and NFT Altcoins: SAND, MANA, and GALA
Decentraland’s MANA has displayed strong performance, rising over 12% in the last 24 hours to $0.7742, with further growth potential expected, possibly reaching a price tag of $0.94 in the near future.
Mirroring MANA’s trajectory, The Sandbox’s SAND reached $0.76 at the time of writing. SAND’s upward momentum is bolstered by the convergence of key exponential moving averages (EMAs), indicating a potential continuation of the uptrend.
Gala Games (GALA) stands out among gaming tokens with an over 20% increase to $0.05412. GALA’s daily chart shows bullish signals from various indicators, such as the Fibonacci indicator, suggesting an upward trajectory. While a pullback to $0.030 remains possible, optimistic forecasts indicate GALA could rise to $0.063 and potentially $0.079.
What Can Be Expected Moving Forward?
We’ve reached a stage in the cryptocurrency market where, just as water finds its way, money finds its direction. Sometimes the focus is on meme coins, while at other times it shifts towards AI coins.
Now, it appears that the focus has shifted to metaverse coins, as evidenced by the examples given above. With Bitcoin setting records, a bullish trend seems likely in the crypto space.
