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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Decentraland (MANA) Sheds 90% In 2022 Despite Solid NFT Volume Performance

Christian Encila
Christian Encila
2 years ago
3 mins read
Decentraland

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Decentraland (MANA), the cryptocurrency launched in 2020 by Ariel Meilich and Esteban Ordano, failed to take advantage of some of the positive developments that happened within its ecosystem this year as it closes 2022 in a “beaten” state.

Over the last 12 months, the digital coin has shed 91% of its value, failing to recover from the massive price dumps it experienced triggered by the a series of unfortunate events that plagued the crypto space and the growing uncertainty in the market.

According to latest tracking from Coingecko, at the time of writing, the digital token is changing hands at $0.2941 and has lost 10.3% of its value during the past seven days.

The last 30 days have been rocky for Decentraland as well, as the altcoin ended up depreciating in value by 27.3%.

This really is unfortunate, considering the crypto’s ecosystem has been making impressive progress in the NFT realm.

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Decentraland: 440% Growth In Minted NFTs

The metaverse-based gaming platform seemed to have focused most of its attention to the non-fungible token (NFT) space this year, as evidenced by its incredible performance pertaining to the industry.

In its yearend performance report, Decentraland disclosed that for the year 2022, there were 2.7 million unique NFTs that have been released on its platform.

With such a figure, on a year-over-year (YoY) basis, the project enjoyed a 440% increase in the volume of NFT assets minted on its network.

Decentraland was also proud to announce that it will end 2022 with a unique active user count of 1 million after it tallied a 13% jump in that particular department over the last 12 months.

Moreover, the project also managed to grow its sales volume by 510% during the same time period after it sold 143,900 wearable NFTs.

However, even with this superlative showing, Decentraland’s MANA failed to catch a break from its bearish streak.

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Crypto total market cap at $755 billion on the daily chart | Chart: TradingView.com

What MANA Holders Can Expect In 2023

There’s a bit of good news for holders of the Decentraland altcoin as Coincodex predicts a possible increase in value in the coming days.

According to the online cryptocurrency information provider, over the next five days, the digital asset’s trading price is expected to rise by more than 2% and will change hands at a value of $0.2977.

Meanwhile, 30 days from now, the crypto is expected to hit and surpass the $0.30 mark once again as it is expected to trade at $0.3305.

If these forecasts translate into reality, MANA holders and investors could finally find a little breathing room to take a break from the challenging landscape of crypto industry today.

–

Featured Image: Lumiere Children’s Therapy

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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