The recent upward trend in the cryptocurrency market has extended to the realm of metaverse and NFT altcoins. Previously overshadowed assets such as The Sandbox (SAND), Decentraland (MANA), and Gala (GALA) have seen over 10% increases on the Binance exchange. This indicates that investors are turning their attention to metaverse coins.
Investors Shift Their Focus Beyond Major and Meme Coins to Other Altcoins
SAND, MANA, and GALA, highlighted by intermittent whale accumulation alerts from leading on-chain data providers like Lookonchain, have shown over a 10% increase on Binance.
This rise 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.
The Rise of Metaverse and NFT Altcoins: SAND, MANA, and GALA
Decentraland’s MANA has shown strong performance, rising over 12% in the last 24 hours to $0.7742. There is more upside potential for MANA, with a price tag of $0.94 likely 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 strengthened by the convergence of key exponential moving averages (EMAs), indicating the potential continuation of the uptrend.
Gala Games (GALA) stands out among gaming tokens with an over 20% increase to $0.05412. Various indicators, such as the Fibonacci gauge, suggest bullish signals on GALA’s daily chart, pointing to an upward trajectory. Although there is still a possibility of a pullback to $0.030, optimistic forecasts indicate GALA could rise to $0.063 and potentially $0.079.
What Can Be Expected Going Forward?
We have reached a stage in the cryptocurrency market where, just as water finds its own level, money finds its direction. Sometimes the focus is on meme coins, while at other times it shifts towards artificial intelligence coins.
Now, it seems that the focus has shifted to metaverse coins, as evidenced by the examples given above. With Bitcoin setting records, a bullish trend in the crypto space seems likely to continue.
