Gala Games (GALA), the Sandbox (SAND), and Decentraland (MANA), all key players in the Metaverse business, are already gaining traction. Many Whales like financial institutions, technology titans, and fashion design organisations have already purchased virtual world land.
According to CoinMarketCap, the overall market capitalization of the leading Metaverse tokens has dropped by almost 2% in the previous 24 hours. The 24-hour trade volume has also decreased by 25%. The overall market capitalization is approximately $27.28 billion.
It appears that Ethereum (ETH) bulls have recognised the ideal opportunity to purchase the decline. The largest ETH wallets have added APE, SHIB, GALA, and MANA in the last 24 hours, according to WhaleStats.
The APE token obsession is still going strong. ApeCoin prices have risen by more than 10% in the previous 24 hours, while Bitcoin (BTC) prices have fallen by 2%. Since yesterday, ETH whales have added more than $12.4 million in APE tokens. This move is inextricably tied to its much-anticipated Metaverse project, “Otherside.”
The Metaverse sector is poised to become the next great thing in Web3 development. While the market is still developing, several major firms and well-known cryptocurrency initiatives are lining up to be a part of it. Shiba Inu (SHIB), a popular meme coin, recently released its metaverse. Yuga Labs, the designer of the Bored APE NFT, is now preparing to debut its virtual world, “Otherside.”
Read more: Fidelity investments enters Metaverse with Multi-Level Learning Centre
