$MANA pumps again: 4 lessons from its previous top

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Ibis
Aug 13, 2020

After trading sideways for over 3 months, Decentraland’s native token $MANA abruptly blew up last week, gaining +89.85% in 48 hours and climbing to a 2-year high $0.12 before partially retracing:

MANA, price, last 3 months (Source: Sanbase)

And while MANA’s recent uptrend is unmistakable, the reason behind its rally has been less clear-cut. Some believe the pump to be a delayed reaction to several price-moving announcements made back in mid July, including Samsung adding support for MANA within its wallet app and the addition of MANA as the newest collateral type in the MakerDAO ecosystem.

What seems more likely, however, is that the rally has been propped up by rumours of Binance US planning to list MANA, which started floating on Twitter around the time the breakout started. Alternately, some also attribute MANA’s recent price performance to its

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Assets from this insight

Decentraland logo

DecentralandMANA

$ 0.065371

11.88%in last 7d
0