Crypto Currency Tracker logo Crypto Currency Tracker logo
NewsBTC 2023-05-17 12:30:22

Decentraland (MANA) Leads Crypto Market Gains, Here’s Why

Decentraland (MANA) is currently ahead of the rest of the crypto market after seeing almost double-digit gains in the last day. This incredible recovery comes at a time when the broader crypto market is following in the steps of Bitcoin and shedding most of its first quarter’s gains. So what could be driving the price increase of MANA? Rumors Of Apple Metaverse Circulate The rumors about Apple’s very own metaverse first started circulating on Monday when a Twitter user made a post about it. In the tweet, Idi Wertheimer pointed to the fact that tech giant Apple was allegedly launching its own mixed-reality headset. As a result, Wertheimer believes that metaverse coins are going to start pumping based on this news. CT is completely oblivious to the fact that Apple is about to launch a mixed reality headset in 3 weeks Metaverse shitcoins are going to pump so hard it’s not even funny But you morons keep buying influencer coins Ok — Udi Wertheimer 🧙‍♂️ (@udiWertheimer) May 15, 2023 Rumors about Apple working on its own metaverse didn’t just start now as it has since been speculated that the company would build one to compete with Meta’s (formerly Facebook) Oculus series. However, Apple has never confirmed nor denied if it was working on its own metaverse. Related Reading: Bitcoin Reclaims $27,000, Here Are The Factors Driving The Recovery Research on our end turned up an article from a website called Tom’s Guide which points toward the tech giant’s plans to enter the virtual and augmented reality space. But instead of the anticipated Apple Glasses, the article refers to an entirely new device which is rumored to be called ‘Reality Pro’. While Apple fans have waited long for a launch of VR/AR devices, venturing into the sector hasn’t been backed internally from all indications. Previously, executives reportedly vetoed the design team which believed that the device is not yet ready for launch. But it remains to be seen if the company will follow through and launch the device MANA price rises above $0.5 | Source: MANAUSD on TradingView.com Decentraland (MANA) Picks Up Steam With the rumors of Apple launching its own metaverse picking, the price of MANA, one of the largest metaverse projects in the crypto space, has been seeing positive reversals. Despite the low momentum in the market, MANA has been able to rise over 9% in the past day. This recovery has brought the MANA price back above $0.5 and its trading volume surged to $161.4 million during this time as well. MANA leads crypto market gains | Source: Coinmarketcap MANA is not the only token to have benefited from the Apple rumors. Another metaverse token The Sandbox (SAND) has been on the rise as well. SAND is up 3.98% in the last 24 hours, enabling it to beat the resistance at the $5.2 level. Related Reading: Does The Bitcoin Price Dump Signal The Start Of Another Bear Market? It is rumored that Apple’s device will drop at the WWDC 2023 event held later this year. If this happened, then the price of metaverse coins could explode leading up to the event, as well as after it. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.