Decentraland, the biggest metaverse in the crypto space, has been a pioneer with its wearables, and increased demand for similar features has led the platform to note higher traffic on both DeFi and the frontline. investors.
Decentraland bounces back
While some cryptocurrencies continue to take damage from the May 9 crash, others have already begun to recover. Over the past 24 hours, ironically, TerraUSD (UST) is leading the upside, but next is Decentraland’s Metaverse MANA token.
From $0.7 to $1.14 on May 14, MANA made a strong rally of 61% in 24 hours. This rise in price also took MANA out of the oversold zone it had been hanging in for more than three weeks now. [ref. Relative Strength Index (RSI)].
The only trigger for such a drastic reaction is demand from the metaverse, and Decentraland being the leader of this space, is experiencing the most traction.
Recently, Linked Wearables has received a lot of interest from investors and Metaverse users.
Linked wearables, unlike regular wearables, do not exist in the category of traditional wearables. Since they have no rarity of any kind and cannot be sold on any primary market, they essentially serve to be a representation in the world only mapped to external NFTs by a third party.
To establish a presence among the same, Dogecoin-inspired Baby Dogecoin, as well as NFTStudios, submitted their proposals to include their linked wearable devices in the metaverse.
But while Decentraland notes an increase in the NFT aspect, its Metaverse front looks a bit weak.
With investor interest declining, Decentraland has seen a steady decline in its LAND sales. After selling approximately 392 units of TERRAIN through May 14, it looks like Decentraland will only note the sale of 800 units of TERRAIN by the end of the month.
This would help the trading volume to surpass last month’s figures.
Currently at $1.5 million, LAND’s May sales would easily exceed April’s $2.3, but it won’t be easy for them to set a new all-time high soon as sales of LAND will never return to $9.4 million.