April to June was horrible for Mana for two main reasons: a. The Federal Reserve began to reduce the size of its balance sheet and also raise interest rates, b. The collapse of LUNA has lowered the entire cryptocurrency market.
However, Decentraland seems to have stabilized over the past 3 months with steady website traffic. However, player engagement is unlikely to increase unless the price of Mana itself starts to rise.
Mana is a native sign of Decentraland. Decentraland is a Metaverse where players can buy and sell land, wearables, NFTS and other digital assets. Decentraland offers a range of experiences to players.
What is a Metaverse? It is a digital space that can offer an experience that can expand our boundaries of what we can do with our lives. Some are envisioning an artificial digital replacement of the real world, while others have integrated cryptocurrencies into existing games and call them the Metaverse.
One of the key features of decentraland is that players can sell and buy virtual land just like we do in reality. Many of these lands can also be properly customized. These charts are correctly represented with the help of resources such as NFT or non-fungible tokens. Many of these goods tend to increase in price (like real land) and therefore also contribute to the increase in the value of Mana.
Example: Metaverse Group is a company that buys digital assets and bought some land and connected it properly together. This led to the formation of a piece worth $2.4 million in total. This represented the largest sale ever in the history of decentralised and virtual land sales. This particular sale we are talking about took place in the Fashion Street Estate of Decentraland. With the help of the digital space, Metaverse plans to actually undertake some high-end fashion shows by partnering with real-world brands.
Decentralized in a sense operates as a national economy and the better the economy behaves, the stronger the token used in that economy. In this case, Mana Coin.
The success of Decentraland therefore Mana depends entirely on two main factors
- Can Decentraland provide a user experience that retains customers and repeated use?
- Can Decentraland offer better experiences than competitors?
Social media sentiments suggest that Decentraland is delivering high levels of satisfaction (+46% Net Sentiment Score). However, interest levels have declined over the past 12 months in line with the decline in the price of Mana. Therefore, the levels of interest in Decentraland are driven by Mana and not the other side.
Decentral and NFT statistics show very thin volumes of around $60,000 per day. Mana’s market cap at $1.32 billion looks pretty steep.
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Decentraland (MANA) is down 8%. We know why.
Decentraland is a virtual reality platform where users can buy land and monetize it by building on it. The current market price of Decentraland (MANA) is $0.61 (as of November 8, 2022). The price has dropped by more than 8% in the last 24 hours. Let’s try to explore various reasons for its reduced price.
Decentraland’s dependence on the NFT market:
MANA is the third largest NFT token in terms of market capitalization and the third gaming token in terms of 24-hour trading volume (as of November 8). Being an NFT token, the fate of MANA is very much tied to the performance of the NFT market. Therefore, its prices may vary depending on how NFTs are performing on the market.
As of September 2022
, the NFT market fell from $17 billion (at the beginning of 2022) to $470 million.
User migration:
Another reason for the drop in the price of MANA is the decline in active users on the platform. A previous report from October stated that Decentraland has only 600 active users despite having a market capitalization of 1.2 billion.
The likely reason is that users are migrating to other gaming platforms such as Tamadoge and Impt.io.
Consumer Price Index:
The latest consumer price index number (as of September 2022) in the United States is 296.76. The value was 280.13 at the beginning of 2022 and has been steadily increasing over the last three months (as shown in the chart below). The value of the CPI has been changed by 0.39% compared to August 2022 and by 8.25% compared to 1 year ago (September 2021), which shows that there is an increase in inflation in the United States.
An increase in the CPI means that inflation is rising, i.e. the price of essential goods is rising. Ultimately, it reduces the demand for non-essential services (or services and products that are not necessities for life, such as gaming). It is understood that gambling is a non-essential part and will be more likely to affect inflation. Therefore, the increase in CPI may also be a reason contributing to the fall in the price of Decentraland.
Is Mana Coin a good investment? Performance 2021
Decentraland Mana was a good investment in 2021. The price of the Decentraland cryptocurrency peaked at around $5.48 in November 2021, specifically on November 24. However, the metaverse token has stalled since it reached an all-time high in November. The news that Samsung ties up with Decentraland for their Metaverse project has led Mana to gain its commercial value. But the gain was limited.
In the short term, adoption rates and low sales volume suggest that it is not a good currency to invest in.
When compared to
Solana (who has an NFT Focus), Mana seems to be struggling for the past 3 months. Mr Solana herself is a laggard interpreter.
Is Decentraland (Mana) a good investment?
In the long run, it makes sense to be bullish on Metaverse, Decentraland and then Mana. To be successful, Decentraland should be able to build significantly higher brand awareness (track Google search data and search for higher movement), and AR/VR technology from companies like Apple (next year) should be of high quality and improve user experience (this will help Decentraland) and user statistics such as sales
.
“We believe that while it might be a risk worth taking, Mana should be a smaller part of the portfolio given the creative nature of the business and therefore risk and volatility are high.”
MANA Coin Price Prediction 2023: Experts’ Forecast
Even in 2023, the price of Mana is expected to remain far below its all-time high. However, the current price forecast is based on current market conditions. If market conditions improve, there are chances that the price of Mana will increase in the coming years. However, as of now the expected price of Mana for the end of 2023 is $1.85.
| maximum | |
| Average MANA Price Prediction 2023 | $1.59 |
MANA Price Prediction 2025
In 2025, although the market condition remains the same, there are chances that the price of Mana will increase threefold of what it is now. Although even in 2025, the price of Mana is expected to remain below its all-time high, but the price of Mana is expected to see an improvement in 2025. The average expected price of Mana in 2025 is $3.96.
| maximum | |
| Average MANA Price Prediction 2025 | $3.12 |
Mana coin price prediction 2030
The cryptocurrency market has
not been stable over the past year, the volatility rate has been very high, and most world events, even non-crypto events, have largely influenced the cryptocurrency market. Mana is a Metaverse game currency and with native coins losing value, the play-to-earn industry has seen a large-scale decline in the number of monthly visitors. Therefore it will be very difficult to make a long-term forecast for Mana or any other cryptocurrency.
But considering the predictions of multiple platforms, we arrived at an aggregate forecast of the price of the Mana 2030 coin. For 2030, the price of Decentraland Mana is expected to be $16.65.
Federal Rate Forecast
Federal funds rates play a significant role in the expansion of an economy. As a result, they can also have some influence on cryptocurrency prices.
The most recent press release states that there could be another increase in federal rates. Numerous data support the growth in federal funds rates, despite the fact that the final decision will be made by December 14.
Let’s discuss how the Fed’s rates are expected to rise in the coming months. Let’s talk first about the US inflation numbers for November. The estimate indicates that inflation will continue to rise, which could lead to a 75 basis point increase in the federal funds rate. The labor market, or employment status in the nation, is another influence.
According to recent statistics, U.S. businesses employed more workers than needed in October 2022, indicating that the labor market was more substantial than expected. The overall number of people employed on non-farm wages increased by 261k in October, the BLS reported in a press release. Noting that the US Fed wants to keep the unemployment rate at 7.5% to pinch liquidity, the rate is currently 3.7%. It indicates that the probability of a rate hike by the Fed is at its highest.
How will Decentraland be affected by rising federal funds rates?
Note that investor spending may decline due to rising Federal Reserve interest rates.
People may be less likely to risk their money in speculation and gambling, and therefore in Decentraland, if there is high inflation and consequently high feeding rates. Instead of speculative investments (such as cryptocurrencies) such as Decentraland, a rise in the fed rate can cause investors to turn to other assets, such as banks, brokerage houses and cash-rich companies.
In this scenario, if more people decide to cut and sell their MANA, the price of the cryptocurrency will remain low.
Mana Price Prediction Today
| General outlook | positive |
| 1. The wisdom of the market | positive |
| 1a. Market data | positive |
| 1b. Technical recommendation | neuter |
| 2. The wisdom of the crowd | Partially positive |
| 2a. Buzz on social media | neuter |
| 2b. Social Media Sentiment | superior |
How to invest in Mana?
Here are some steps on how to buy Decentraland Mana tokens:
- The first step is to create an account with any of the exchanges. Exchanges could be Coinbase, Binance, FTX, Crypto.com, Kraken, etc.
- To create an account, you will need basic documentation that guarantees KYC so that these exchanges are not used for money laundering.
- Each of these exchanges has various features and transaction fees. So evaluate them carefully.
- Once you’ve created your account, the next step is to link your bank account or a payment account to the exchange.
- Once you have linked a payment method (bank account, debit or credit card, bank transfer), the next step is to fund the account
- Once the fund is added, start trading by selecting the Mana trading symbol and then enter the amount
- You can store your cryptocurrency in the trading account or in your personal wallet (you need to open another account for this)
How to invest in Decentraland?
- Investments and purchases in Decentraland take place at the Decentraland Market Place
- To buy anything on Decentraland, you need to link your Metamask, Fortmatic, WalletConnect or Coinbase Wallet.
- Payment can be made via Ether or Matic
