The metaverse is blowing up right now and it’s creating tons of new opportunities for investors, entrepreneurs, and anyone who’s into tech. With virtual reality, gaming, and social media all coming together, the metaverse is going to change the way we interact with digital content and each other.
And guess what? Cryptocurrencies are going to play a huge role in making all this happen. In this article, we’re going to explore how cryptocurrencies are going to shape the metaverse and take a look at some of the coolest tokens and projects in this space.
What is BYDFI Crypto Exchange?
BYDFI is a highly regarded crypto derivatives trading platform, offering its users access to the global crypto market through a variety of options including spot trading, copy trading, and CFDs. Through constant evolution, the platform has streamlined the trading process and provided its users with a comprehensive trading front.
Decentraland (MANA)
Decentraland is one of the most well-known and established metaverse projects in cryptocurrency. It is a virtual world built on the Ethereum blockchain where users can create, experience, and monetize content and applications.
MANA is the native cryptocurrency of the Decentraland platform, and it is used to buy virtual land, pay for transactions, and access premium content. As the platform continues to grow and expand, demand for MANA will likely increase, making it an attractive investment for metaverse enthusiasts.
Decentraland (MANA) has a current value of $0.6142, up 5% from the previous day. However, Decentraland (MANA) sentiment is bearish, and most indicators are in the red zone. Although there is a possibility of a surge soon, experts believe it will be insignificant as the Metaverse hasn’t gained much traction yet.
Has broken the horizontal support zone and the symmetrical triangular support trendline in 6 hours. The price is currently declining. From here, a downward swing is expected to keep going.
In the 4H timeframe, the price action of $MANA/USDT has broken both the horizontal support zone and the symmetrical triangular support trendline in 6 hours. As a result, the price is currently declining. From here, a downward swing is expected to keep going.
Internet Computer (ICP)
ICP, also known as Internet Computer Protocol, is a blockchain-based protocol that aims to create a decentralized internet. It allows developers to create websites, web applications, and other internet services on a blockchain network. ICP aims to create a world where anyone can create and host their website or application without relying on centralized servers.
It is designed to be highly scalable and can process thousands of transactions per second. In addition, ICP has a unique architecture that allows developers to build and deploy software on the blockchain.
ICP has been gaining traction in the Metaverse world due to its ability to quickly process large volumes of transactions. This is important in the Metaverse, where there are likely to be millions of users interacting with each other and engaging in various activities. In addition, ICP has a strong community of developers constantly building new applications and features on the platform.
In the 1D timeframe, the price action of $ICP/USDT is consolidated inside the descending channel. 4EMAs is also above the price action. We must wait for a successful breakout or breakdown to confirm its next direction.
ApeCoin (APE)
ApeCoin (APE) has gained considerable popularity among cryptocurrency enthusiasts this year. Not only can they use it in the APE ecosystem, but they can also make decisions with the APE token.
ApeCoin (APE) is an ERC-20 token built on the Ethereum blockchain specifically tailored to support the development of a decentralized web3. It was inspired by one of the most iconic & valuable NFT collections: The Bored Ape Yacht Club. As a result, APE is both fungible & transferable.
Last week, ApeCoin (APE) unveiled 1 billion tokens which caused its value to decrease by 5%. It is currently trading at $4.85 with a market cap of $178, dropping by 0.24% in the last 24 hours.
In the 4H timeframe, the price action of $ICP/USDT faces the descending channel’s resistance trendline. Therefore, we must wait for a fruitful breakout or breakdown to confirm its next move of $APE.
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