Metaverse Token is up 400% per year despite the Altcoin bloodshed

Metaverse Token is up 400% per year despite the Altcoin bloodshed

Metaverse tokens are far superior to any other cryptocurrency category in the current situation, growing by almost 400% per year.

Decentraland (MANA) leads the way with 41%, Sandbox (SAND) with 470%, Axie Infinity (AXS) with 511%, and STEPN (GMT) with 746%, according to the data. data from the May 2022 market report by Kraken Intelligence and CoinGecko. Metaverse tokens can be used to pay taxes, buy land and participate in management.

The growth of #NFT in 2021 has not only attracted the attention of many to investing in digital arts, but the cryptocurrency metaverse has also become popular.

The Kraken Intelligence report takes a closer look at how metaverse crypto is changing the way we communicate: https://t.co/kjrf6Pu8yg

– Kraken Exchange (@krakenfx) June 7, 2022

The next category that rose the most for annual revenue was the exchange rate securities which saw a 6%increase. All other categories saw negative activity over the same period, ranging from -13% for Bitcoin to -72% for DeFis.

Blockchain -based games using non -interactive signaling (NFT) and metaverse platforms have remained very popular throughout 2022 so far. Despite the decline across the market, the number of users across these games remains unchanged at around 1 million users per day, according to data from a decentralized tracker app ( Dapp) DappRadar.

The Kraken report noted that although May saw daily users, “NFT volume saw a significant decline, with daily revenue -87.1%.

All categories followed by the Kraken report, including the metaverse and exchange tokens, had negative returns in the 30 -day and 90 -day periods. The Metaverse signal was among the worst losers in 30 days, down 42%, with the highest volatility at 173%.

Despite the short -term move, money is pouring in to fund the sector. DAppRadar’s Q1 Gaming Report noted that $ 2.5 billion was raised in support of blockchain games and metaverse projects in Q1 2022. Investors were eager to support the game according to the report because 52% of all blockchain activities are from the DApps game:

“At that rate, play-to-ear (P2E, or play-to-win) projects and project-related metaverses will add $ 10 billion this year to continue building the future of this industry. . “

Tier 1 brands such as Solana (SOL) and Cardano (ADA) led the losers as in the last 90 days they have declined 53% and 43% in the last 30 days.

Bitcoin (BTC) and Ethereum (ETH) saw relatively modest losses compared to altcoins across the three time periods measured by Kraken.

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