3 reasons why the MANA and SAND metaverse token rally could end soon
The metaverse hype that began in 2021 dissolved almost entirely by the end of 2022 as the top projects in the space, Decentraland and The Sandbox, lost 95% of their market capitalization. The most prominent reason for the fall was a lack of user growth.
Still, the metaverse narrative is far from dead and will grow in the future. Reportedly, Apple (NASDAQ:AAPL) will launch its virtual reality gear sometime in spring 2023. The announcement was a positive catalyst for Decentraland’s MANA and The Sandbox’s SAND, causing a double-digit price surge.
The Apple pump-and-dump
Poor usage data hinders the reality of a sustained metaverse token rally
The Sandbox unique wallet addresses interacting with a decentralized application’s smart contracts. Source: Decentraland unique wallet addresses interacting with a decentralized application’s smart contracts. Source:
Token dilution risks remain
MANA/USD daily price chart. Source: TradingViewSAND/USD daily price chart. Source: TradingView
