Metaverse and NFT coins surge in price

Metaverse and NFT coins surge in price

05.12.2022 12:18 (Updated 05.12.2022 12:12)
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by Yana Popenkova
2 min read

Metaverse and NFT-related cryptocurrencies Axie Infinity (AXS), ApeCoin (APE), Flow (FLOW), and Sandbox (SAND) are skyrocketing amid gradual overall market recovery.

AXS, the native token of the blockchain game Axie Infinity, stands out at 21.07% gain in 24 hours, making it at the top 1 of the Gainers And Losers chart among all cryptocurrencies, according to data from CoinMarketCap. At the time of writing, the price of AXS is $8.20, with a market cap of $809,737,703, making it the 53rd largest cryptocurrency. AXS is continuing a 2-week gain trend, hitting a high on Dec 5, matching a price from Nov 13.

AXS 7-day price chart from CoinMarketCap

Despite the latest gains, Axie Infinity is trading way low from its all-time high on Aug 11, 2021, at $160.

As for FLOW, a native token of gaming blockchain, it is up 5% in 24 hours. The price is at $1.14, according to CoinGecko data. Since Instagram integrated NFTs via Flow blockchain, FLOW token price immediately pumped FLOW to 3.11$ on Aug 11. Since then, the token is continuing the downtrend. Since the all-time high on Mar 5 at $39.24, FLOW lost 97.09%.

Related: Instagram NFT Initiative Adding Support for Some 100 Countries

ApeCoin, a BAYC-powered token, also surged 3.82%, trading at $4.11 in the last 24 hours, according to CoinMarketCap. ApeCoin ranks 32nd among the top cryptocurrencies in market cap and today rose around 67% to $202M daily trading volume.

SAND, the cryptocurrency behind The Sandbox metaverse, rallied 7,6% today and is trading at $0.62. According to Coingecko, SAND gained nearly 9% over the past week. But the bullish week wasn’t strong enough to reverse a year’s losses. In Nov 2021, SAND climbed to $7.51.

The main reason behind the gaining of all mentioned metaverse and NFT cryptocurrencies is the overall gaining trend in trading sales. According to CryptoSlam, total NFT sales rose 20.92% in the last 24 hours to over $16.6M.

Related: NFT sales surge for the first time in 7 months

In addition to NFT and metaverse tokens, leading cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) also rose 2.10% and 3.21% in the past 24 hours. The total cryptocurrency market is also up 2.10%, totaling more than $906B at the time of writing.

Author

  • Previously worked in the arts, now specializes in covering crypto with an emphasis on DeFi, blockchain and mass adoption. Offers simple and clear writing, always looking for new ways to present information. Major in International Relations, minor in English, in a spare time reads postmodern literature, does yoga and watches movies.

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