The metaverse industry is the next big step in Web3 development. While the market is still developing, many key players and known metaverse coin projects are lining up to be a part of this industry. Recently, a famous meme crypto started the Shiba Inu (SHIB) metaverse. Now, Bored APE NFT creator Yuga Labs is also lining up to launch its own game.
Whales are buying the bottom opportunity in these metaverse coin projects
Other key players in the metaverse industry such as Gala Games (GALA), Sandbox (SAND) and Decentraland (MANA) are already gaining a lot of attention. As we have mentioned in the news of Kriptokoin.com, many big banking institutions, electronics giants and fashion design firms have already bought lands in these virtual worlds.
According to CoinMarketCap, the total market cap of the largest metaverse coin projects has dropped over 2% in the last 24 hours. The 24-hour trading volume also fell by 25%. Cumulative total market capitalization stands at approximately $27.28 billion.
It looks like Ethereum (ETH) whales have spotted the perfect timing to buy the bottoms. According to WhaleStats, the largest ETH wallets have been adding ApeCoin (APE), Shiba Inu (SHIB), Gala Games (GALA) and Decentraland (MANA) in the past 24 hours.
ETH whales collecting APE, GALA and MANA
The craze for ApeCoin tokens is still on the rise. ETH whales have added more than $12.4 million in APE tokens since yesterday. According to experts, this move could be directly linked to the upcoming very extravagant Metaverse project “Otherside”.
GALA token has dropped over 18% in the last 7 days. However, it has made it into the top 10 tokens purchased by the largest of ETH wallets. The biggest Ethereum whales own more than $35 million in GALA tokens.
MANA token has emerged as the most widely held token by ETH whales. According to WhaleStats, MANA also entered the list of the most used smart contracts among the top 500 whales in the last 24 hours. ETH whales cumulatively hold more than $162 million in MANA tokens.
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