Decentraland spikes in number of metrics. Will the price follow?

Profile picture
garry
Jul 10, 2019

Looking at Decentraland and asking myself why is MANA trending I stumbled upon a very interesting DAA chart:

I shouted like wow! this thing is gonna blow!

Really?

Had to switch emotions off and start digging.

On June 8 Decentraland released a blog post announcing their Metaverse avatars.

Facts about it:

  • Every user who creates a Decentraland Avatar will be shortlisted for access to private World Explorer Beta. It's another recently announced big feature that allows users to explore the Metaverse and view content created by fellow Decentraland inhabitants.
  • The first 4,000 people who go on to claim a name will receive a limited-edition blockchain wearable from the addictive Ethereum blockchain-based battle game, MyCryptoHeroes. These can be traded in open marketplaces throughout Decentraland.
  • It usually costs 100 MANA to claim a name, but for the first 1,000 people claiming a name with cryptocurrency wallet, Trust Wallet, it’s completely free. What’s more, Trust Wallet and Binance stump up the gas fee.
  • 100 MANA are burned for every Avatar name claimed.

Well, yeah.

These are enough reasons to increase network usage.
And these are the obvious reasons for DAA to spike.

Would the price follow? 🤷


By the way this is Barry Silbert's new avatar:

Another observations on MANA:

Network growth at 2 years high
Token Age Consumed at 6m high
Token Daily Circulation at 1y high
Around 50% drop in Percent of Total Supply on Exchanges
Withdrawals Volume at all time high

That was Decentraland onchain data following avatars announcement.

Pretty impressive, right?


As always, head over to our Social Trends page for the research triggers.

MANAARIMEILICH
Profile picture
garry
Jul 10, 2019

Assets from this insight

Decentraland logo

DecentralandMANA

$ 0.026274

9.18%in last 7d