Gains on the most popular metaverse coin projects far outstripped their peers on Wednesday, with total market cap in the space up 6.5% in the last 24 hours to $31.1 billion. In addition, trading volumes increased by 74%.
Metaverse coin projects’ performance was impressive
As we mentioned in the news of Kriptokoin.com, the crypto money market recovered a little on Wednesday after the decline at the beginning of the week. Leading crypto Bitcoin (BTC) is up over 3% to hit $42,000, while other major cryptocurrencies have mostly gone in the green.
However, metaverse coin projects such as Apecoin (APE), Sandbox (SAND) and Gala Games (GALA) have outstripped their peers. According to experts, positive developments regarding APE and SAND seem to increase buying interest in many other metaverse tokens as well.
The largest of the Ethereum whales is buying heavily from metaverse coin projects. APE, GALA and SAND are among the top 10 most bought tokens by ETH whales in the last 24 hours.
Awesome performance from Apecoin (APE)
The top earner of the day, the price of ApeCoin (APE) has skyrocketed by over 34% in the last 24 hours. The recent bullish rally, according to experts, is the result of several factors, including its recent listing on Gemini Earn. However, speculation about Yuga Labs’ upcoming metaverse called “Otherside” may be the main factor behind the Whopping surge.
According to reports, Yuga Labs will launch land sales in ‘Otherside’ with a starting price of 600 APE. However, APE has already seen an increase of over 1,500% since it came out last month. Recently, APE has become the largest metaverse coin project, overthrowing Decentraland (MANA). Meanwhile, 24-hour trading volume saw an increase of over 360%.
Sandbox’s hourly trading volume increased 65%
According to WhaleStats, ETH whale “BlueWhale0093” has purchased The Sandbox (SAND) worth $1.48 million. In addition, the 24-hour trading volume of SAND increased by over 65%.
A report from Bloomberg may be the reason behind the increase. The report states that Sandbox will raise $400 million from various investors. Sandbox’s native token SAND has risen over 8% in the past 7 days. SAND, which currently has a total market capitalization of over $3.4 billion, ranks 40th in the cryptocurrency league.
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