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Coin Watch: The Metaverse Is On Its Way

November 12, 2021
by Leon Marshall,

With the news that Facebook has rebranded its platform under the name ‘Meta’, and with the growth of the Metaverse community we have seen a number of Cryptocurrencies begin or have already started to make considerable movements, some more than others. Two of the major coins within the virtual gaming community are Decentraland (MANA) and Axie Infinity (AXS). Here we take a quick look at who they are and their performance over the last 7 days.

What is Decenraland (MANA)?

Decentraland (MANA) is an Ethereum token that powers the Decentraland virtual reality platform. MANA can be used to pay for virtual plots of land in Decentraland as well as in-world goods and services.

The price of Decentraland has risen by an amazing 31% in the past 7 days, increasing by 36.6% over the last 24 hour period. The current price is $3.29 per MANA. Decentraland is 23.92% below the all-time high of $5.93. This is a big rise since the Meta announcement, could it go higher?

The Decentraland CFD is currently available on Eightcap, via MetaTrader 5 platform (MT5).

What is Axie Infinity (AXS)?

AXS is an Ethereum token that powers Axie Infinity, it is a blockchain-based game where players can battle, collect, and build digital kingdoms for their pets. AXS holders can claim rewards for staking their tokens, playing the game, and participating in key governance votes.

The price of Axie Infinity has been steadily rising. It has risen by 0.76% over the past 7 days, with a price increase of 0.47% in the last 24 hours. The current price is A$144.56 per AXS. Axie Infinity is 12% below the all-time high of $164.6. Is this the beginning of a major price increase?

The Axie Infinity CFD is currently available on Eightcap, via MetaTrader 4 and 5 platforms (MT4/MT5).

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All times are AEDT.