With the sharp withdrawal in Bitcoin (BTC), a new sales wave was recorded in Metaverse projects.
BTC, which shot around 40,250 during the night, shook the altcoin market. While declines of nearly 10 percent were observed in many altcoins, these declines began to be compensated as BTC recovered slightly. However, that’s not exactly how things worked out with Metaverse-related cryptocurrencies. The Sandbox (SAND) and Decentraland (MANA), which are among the first projects that come to mind when Metaverse is mentioned, fell around 10 percent in a short time and were at the top of the “Top Losers” list.
They give up easily!
BTC’s upward move after dropping a needle around $40,250 has improved the prices of most altcoins. Metaverse projects remained in the background as altcoins slowly gained value due to the dominance effect and the removal of liquidity. The selling wave in SAND and MANA was much greater than in other altcoins.
Investors who quickly disposed of Metaverse-based cryptocurrencies in a scenario where BTC lost value showed that they could easily give up on this area. The fact that there have been no developments in the Metaverse sector for a while has been one of the critical factors supporting this situation. In a scenario where there is a negative atmosphere across BTC, there may be a decline in SAND and MANA prices to around $0.40.
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