The ranking in terms of market size changes frequently. Although Bitcoin never loses the lead in this ranking, there are frequent changes among other cryptocurrencies.
According to data from CoinMarketCap, there are two altcoins in the top ten metaverse coins that are trading above their price levels 1 month ago: Decentraland (MANA) and Vulcan Forged (PYR). While MANA has gained 7.5% in the last month, PYR has increased by over 26% in the last month.
In terms of market capitalization, MANA is the largest metaverse coin with $5.6 billion, and PYR is the 10th largest metaverse coin with $358 million.
The Decentraland (MANA) pair has experienced a significant recovery over the past week. Towards the last week of January, there was a 40% price recovery from the $2 support. It has seen an increase of more than 20% in the last week. It has now increased from $2.60 to $3.04 levels. In addition, MANA has a daily transaction volume of 590 million dollars.
The Sandbox (SAND) follows MANA with a market value of approximately 4 billion dollars, while Theta Network (THETA) is in the 3rd place with 3.3 billion dollars, Axie Infinity (AXS) is in the 4th place with 3.2 billion dollars, and Enjin Coin (ENJ) ranks 5th with $1.6 billion.
The top ten rankings in Metaverse coins are as follows:
Analysts stated that with an upward move in the market, metaverse coins would be the fastest responder. As a matter of fact, the forecasts of analysts seem to have found their place. It is seen that there has been an increase of more than 10 percent in the last 24 hours in Metaverse coins, and even the increases exceeded 20 percent.
We can easily say that the general market recovery is behind this increase in metaverse coins. However, Bitcoin price should not start a new decline so that metaverse coins can experience more increases. If Bitcoin rises above expected price levels, metaverse coins may start to recover losses one by one.