After a selloff in the past week, the cryptocurrency market is stabilizing, and selling volumes are dropping. This means it could be an excellent time to start looking for buying opportunities if there is a rally within the week. But where can such a rally come from? What could trigger it? Well, that will depend a lot on the news, and at the moment, the news is pointing to Metaverse cryptocurrencies as potentially big winners this week.
The latest news coming about the Metaverse is coming from South Korea. The country’s regulators are working on a framework that will fast track growth of the Metaverse in the country. Though these are long-term plans, the markets will likely respond positively to this news, which means potential growth in top Metaverse cryptocurrencies.
With this in mind, let’s now look at the top 3 Metaverse cryptocurrencies to keep an eye on this week.
Decentraland (MANA)
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Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Decentraland (MANA) is one of the top Metaverse cryptocurrencies by market cap and one of the best-performing ones in the November 2021 cryptocurrency rally. However, it has since lost a lot of value and is currently trading at less than $0.80. This makes it quite affordable to most investors, and as the South Korean news filters into the market, MANA is likely to pump. That’s because it is one of the biggest Metaverse cryptocurrencies in the market now, which makes it easily accessible even to a non-sophisticated investor.
Sandbox (SAND)
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Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
The Sandbox (SAND) is another large-cap of Metaverse cryptocurrencies that could do well if Metaverse cryptocurrencies gain traction this week. Like Decentraland (MANA), Sandbox (SAND) is one of the larger and hence more visible Metaverse cryptocurrencies that could benefit if there is FOMO around Metaverse cryptocurrencies in the month. Besides being one of the largest Metaverse cryptocurrencies, SAND has a growing ecosystem of games and other virtual assets, making it hugely undervalued at current prices.
Axie Infinity (AXS)
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eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
Axie Infinity (AXS) is one of the top cryptocurrencies that are building one of the fastest growing play-2-earn ecosystems in crypto. It has one of the most expensive NFTs collections on the market. With its deepening P2E Metaverse, Axie Infinity has pretty good odds of growth long term.
In the short term, Axie Infinity has everything it would take to trigger FOMO if Metaverse cryptocurrencies start gaining upside momentum. One thing that gives Axie Infinity the potential to rally is its proven resilience, even during adverse events. For instance, during the Ronin hack, the price of Axie Infinity remained stable throughout.
This and the fact that Axie Infinity is currently trading at record lows from its most recent all-time highs makes it highly attractive to investors. Axie Infinity buying volumes are already rising, an indicator that bulls are taking the market, and a potentially big move could be underway.
https://coinjournal.net/news/top-metaverse-cryptocurrencies-as-south-korea-seeks-to-accelerate-metaverse-growth/
