After Facebook announced a rebranding with the Meta name last week, Decentraland (MANA) recorded a jump of over 400% and SAND increased nearly 170%.
MANA jumped from a price level of $ 0.92 on Oct. 29 to an all -time record high (ATH), $ 4.9 on Oct. 31, making a cumulative jump of 437.25%.
While SAND recorded an increase from a daily low of $ 0.91 to ATH. $ 2.45 over the same period, with an overall jump of $ 169.29%.
At the same time, the Metaverse Index (MVI) token also rose 68.90% to $ 250.89.
For information, MVI is a token that collects the total value of assets associated with metaverse products such as SAND, MANA, and Axie Infinity (AXS).
Analysts attribute the positive movement of MANA to its position of dominating the metaverse ecosystem. In fact it’s not impossible if MANA is getting stronger with Facebook’s actions that want to be known as Meta.
But an analyst from Messari, Mason Nystrom denies the link between the ‘metaverse’ of Decentraland and The Sandbox, with the ‘metaverse’ that Facebook wants to introduce.
He explained: “Facebook wants to create a space that allows the company and its network to make a profit. While digital worlds like Sandbox and Decentraland instead open up space to developers and gamers for individual gain. Generally, there is a difference between closed and open (crypto) metaverse. ”
Investors' desire for these two assets is also seen to be related to their excitement about the future of the metaverse, which has yet to be unraveled.
However, MANA and SAND today recorded declines of over 20% and 16% respectively in 24 hours.
