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Top Metaverse Tokens by Market Cap [September 2022]

Top Metaverse Tokens by Market Cap [September 2022]

Introduction

The crypto market over the past week has been full of surprises. The crypto king, which had been lying dormant for quite a few weeks now is now back at the helm, having come back up from a sub-38% market cap dominance to a near 40% market cap dominance as of writing. And thanks to the recovery in Bitcoin Price above $22,000, over 10% rally over the weekend from 9 September, the crypto market has managed to recover above the $1 trillion mark once again. And with Bitcoin, most other altcoins also saw recoveries of various degrees across the market. Here’s a list of the top metaverse tokens of 2022 for your consideration. (by market cap)

Summary 

Crypto Market Cap Weekly Volume
Apecoin (APE) $1.7 billion $3.35 billion
Decentraland (MANA) $1.5 billion $1.1 billion
The Sandbox (SAND) $1.4 billion $1.7 billion
Axie Infinity (AXS) $1.2 billion $555 million
Enjin Coin (ENJ) $559 million $380 million

Apecoin (APE)

Apecoin’s native token APE, which is one of the top metaverse coins by market cap, despite its very late entry into the space has been nothing short of a surprise. However, recent price action wise, APE has had a very weak month of August, as if evident from the chart below. It has fallen significantly all through the month, seeing one of the largest falls though the month amongst metaverse tokens. However, its recent recovery over the weekend from 9 September, led by the king coin, Bitcoin itself has managed to bring APE price above crucial technical levels.

APE/USD | Source: Tradingview

Additional Read: Apecoin Price Prediction

Decentraland (MANA)

Decentraland’s performance, which was one of the top metaverse tokens, until Apecoin came along early in 2022 – has been more or less quite lacklustre. MANA’s price action over the past couple of months have been rather stagnant, trading very firmly within a narrow range of $0.8-$1.2. Ever since May, this has been the region that MANA price has been stuck within, as is depicted on the chart below. It is pretty much flat, which indicates there’s buying at the lower levels while heavy selling at the higher, which has resulted in a reasonably humdrum price action in this metaverse token.

MANA/USD | Source: Tradingview

Read more MANA Price Prediction

The Sandbox (SAND)

The Sandbox’s native metaverse token SAND price performance has been quite similar to that of MANA’s as explained above. This metaverse token’s price action has been trading within a range between $0.9-$1.45. It has attempted to break past the $1.4 level several times since May 2022 but hasn’t been able to. This indicates there’s heavy selling pressures on the upper price levels and a sell on highs strategy being adopted by traders.

SAND/USD | Source: Tradingview

Read more: Sandbox Technical Analysis

Axie Infinity (AXS)

Pretty much in line with the above two described metaverse tokens, Axie Infinity too has been trading within a range (marked in grey). Axie Infinity was one of the top metaverse token at the height of the Covid-19 pandemic, when a large number of people lost their livelihood to the disruptions caused by the pandemic, they had to resort to this blockchain based game and its NFT & metaverse world. Thanks to good internet and digital penetration in the country, playing this game gave them a source of livelihood with which they could feed their families. It was then Axie Infinity had reached its peak in terms popularity but since then many more players have cropped up in the metaverse space.

AXS/USD | Source: Tradingview

Read more on Axie Infinity Technical Analysis

Enjin Coin (ENJ)

Enjin coin is one of the smaller metaverse coins in terms of market cap as compared to the rest of the top metaverse tokens on this list. With a market cap of under $600 million, it is about less than half that of its nearest competitor on the list. However, what makes this coin attractive is its unique proposition and the problem it solves. Whereas other top metaverse coins are linked to just their own parent metaverse projects, Enjin Coin can prove great value due to its affiliations with many networks.

ENJ/USD | Source: Tradingview

Prices as on 12 September, 2022.

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