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Decentraland MANA Skyrockets 70% in One Week, Here's What's Driving Surge

Mon, 01/16/2023 - 10:02
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Tomiwabold Olajide
Start of Australian Open impacts MANA's price
Decentraland MANA Skyrockets 70% in One Week, Here's What's Driving Surge
Cover image via stock.adobe.com

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The native token of the metaverse project Decentraland (MANA) has increased over the past day as metaverse tokens have performed impressively since the start of the new year. Since Dec. 30, after the price hit a base of $0.284, MANA has seen 14 out of 16 days in green.

Although some of its intraday gains had eased, MANA's price remains up 22% in the past 24 hours and trading at $0.67 at press time. The token is up nearly 70% in a week. The rise in MANA's price in the last 24 hours coincides with the start of the Australian Open on Jan. 16.

Cryptocurrencies with relatively smaller market caps have outperformed as sentiment improved on the broader crypto markets due to encouraging macroeconomic data.

Other gaming and metaverse tokens experienced notable rises in the previous week. Gala Games' GALA has increased by 30% over the past week, while The Sandbox's native SAND has increased by 32%.

Australian Open metaverse returns to Decentraland

The 2023 Australian Open is a Grand Slam tennis tournament hosted at Melbourne Park, and the first round starts from Jan. 16 to 29, 2023. It will be the 111th edition of the Australian Open, the 55th in the Open Era and the first Grand Slam of the year.

In a tweet posted on the official Decentraland Twitter account, the Australian Open metaverse, "AOmetaverse," has returned to Decentraland.

"AOmetaverse" and Vegas City, the metaverse's entertainment destination and the largest commercial zone in Decentraland, have scheduled a Twitter space for Jan. 17 to share details about the 14-day activation of the Australian Open 2023.

In the past week, Decentraland has introduced additional user features. The update also adds new profile features and avatar functions.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.