Metaverse Tokens On Overdrive, Outpace Bitcoin And Ethereum

Christian Encila

Last Updated: April 22, 2022 7:56 am

3 mins read

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Trading volumes plummeted to at most 74% showing top metaverse tokens on hyperdrive as they outperform the market, surpassing the gains of their contemporaries by a huge margin.

In fact, the entire metaverse market value has jumped by 6.5% or a whopping $31.1 billion in just 24 hours.

Wednesday showed a bit of improvement in the crypto market with Bitcoin pulling off a major stunt at a hike of more than 3% with the rest of the other major cryptocurrencies blinking green.

It’s a major sigh of relief for many crypto investors and traders awaiting that upward trend movement.

Metaverse Tokens Vs Crypto Giants

To everyone’s surprise, metaverse tokens like GALA, Sandbox (SAND), and Apecoin (APE) bowled-over the major players like Bitcoin and Ethereum.

APE has remarkably increased by over 34% in 24 hours, topping off the list of gainers. The rapid developments happening with SAND and APE seem to have stirred interest and put the spotlight on the metaverse tokens. Now, investor eyeballs are on these top metaverse tokens.

BTC total market cap at $815.46 billion on the daily chart | Source: TradingView.com

BTC total market cap at $1.96 trillion on the daily chart | Source: TradingView.com

The APE daily trade volume rose to approximately 360% as of presstime. In addition, APE has also overthrown Decentraland (MANA) which was originally coined as the biggest token in the metaverse.

The majority of Ethereum whales are heavily invested in GALA, APE, SAND and other high-performing metaverse tokens. These belong to the top 10 tokens generating the most sales in the virtual space.

The recent gains just pumped up the excitement further.

No Other Way But Up

The spike in the metaverse tokens is said to be triggered by a couple of factors such as APE being recently added to the Gemini trading platform and also Yuga Labs’ rumored launch of Otherside that is valued at 600 APE.

More so, Sandbox trading volume has risen by as much as 65% in the last 24 hours. Thanks to a Bloomberg story, Sandbox popularity has risen, pooling as much as $400 million in investments.

SAND has also spiked to around 8% in the last seven days with a market cap amounting to more than $3.4 billion.

The metaverse realm is highly optimistic about this upsurge which also fueled the curiosity of many investors to deep-dive into these digital assets.

While Bitcoin and Ethereum alongside other major cryptocurrencies remain to kill it when it comes to popularity vote, metaverse tokens are surely keeping up with the pace.

Featured image from Coingape, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.