Decentraland Soars Up 70% As Its Strong Collaboration With Australian Open

Key Points:

• Decentraland (MANA) has surged 70% over the last week, reaching $0.70 as a result of its collaboration with the Australian Open and high GitHub activity.
• It recently announced “Game, Set, Match!” on AOMetaverse, referring to experiencing the Australian Open tennis event in the Metaverse.

Decentraland’s price increased dramatically as a result of its collaboration with the Australian Open and high GitHub activity.

Decentraland (MANA) has surged 70% over the last week, reaching $0.70 at the time of publication which is just slightly less than MANA’s pre-FTX crash price of $0.7137.

Since January 6, 2023, the overall crypto market value has increased significantly, adding $156 billion, causing a surge in token prices across the board.

Additionally, Aptos has also witnessed the most substantial price rise, up 77% over this time period, followed by Decentraland, with Helium placing third at 54% gains.

There is little question that these flimsy signs of recovery have spurred confidence for the upcoming year, even though the small sample size does not prove an end to the current bear cycle.

Decentraland has been moving higher since hitting a local low of $0.2858 in December 2022. On January 13, the upswing culminated in a 34% swing to the upside before concluding the day slightly lower. Subsequent days saw large upward swings, ending in a top price today slightly below the pre-FTX crash level.

The daily candle pattern for January 16 has printed a Doji candle body with a lengthy top and bottom wick, signalling market hesitation at the present price.

In spite of this, the peak-to-trough movement of +156% and the two previous weeks’ closes in the green shows that the market has trust in the project and the Metaverse idea as a whole.

Decentraland recently tweeted “Game, Set, Match!” on AOMetaverse, referring to experiencing the Australian Open tennis event in the Metaverse.

Matches can be seen on large screens in Decentraland, comparable to real-world fan parks but in the Metaverse. As part of the AOMetaverse experience, users may also engage via the “New AO Tennis Club” and “Beach Bar” and participate in challenges.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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