Metaverse Tokens Soar Amid Market Turmoil; Here Are the Top Picks!

The cryptocurrency market has been volatile in the past 2 days, with a sharp decline followed by a slight rebound.
Metaverse tokens have bucked the trend and experienced an impressive surge in their values.
The surge in interest in metaverse tokens can be attributed to a combination of factors.

The cryptocurrency markets faced significant turmoil over the last two days, primarily due to the FTX sell-off. Cryptocurrencies witnessed a sharp decline, with the total market capitalization dropping by over 40% at one point yesterday. As of now, there’s been a slight market rebound. However, amid this widespread downturn, certain tokens have bucked the trend.

Notably, in the last day, most Metaverse tokens have experienced an impressive surge in their values.

Metaverse Tokens on the Rise

Internet Computer (ICP) has experienced the biggest surge, with its price increasing by 6.9% in the past day. It is now priced at $2.99. Axie Infinity (AXS) is another standout, with its price increasing by 4.9% in the past 24 hours. It is now valued at $4.74. ApeCoin (APE) has also seen significant growth, with its price increasing by 8.8% in the past day. It is now priced at $1.11.

These gains are likely due to the growing interest in the metaverse.

Steady Climbers

Some tokens are quietly making steady progress. The Sandbox (SAND), a virtual realm where players can own, create, and monetize their gaming experiences, has seen a growth of 2.99% over the past day. Similarly, Decentraland (MANA), a decentralized platform for creating and experiencing 3D content, has grown by 2.59% in the last 24 hours.

Theta Network, Render, and Stacks are also demonstrating positive momentum, with day-over-day gains of 0.49%, 0.8%, and 1.1%, respectively. While the spotlight shines on the tokens mentioned above, newcomers like Vulcan Forged PYR and Enjin Coin (ENJ) are proving their mettle with daily surges of 3.02% and 2%, respectively. These impressive figures underscore the vast, dynamic, and continuously expanding nature of the metaverse ecosystem.

What’s Driving the Interest?

The surge in interest in metaverse tokens can be attributed to a combination of factors. Trading volumes are soaring, a strong indicator of bullish sentiment. Additionally, chart patterns across various tokens have consistently formed ‘ascending triangles,’ often signaling a continuation of the bullish trend.

At the same time, RSI readings for many of these tokens have remained below the 70-mark, suggesting that they are not overbought despite their upward price movements.