- Investors are scrambling to grab virtual plots of land in the Decentraland metaverse.
- Analysts are criticizing Sandbox for copying Decentraland’s metaverse in many ways, considering MANA to be a dominant metaverse token.
- As Bitcoin price struggles to recover from a dip below $57,000, capital is turning to Sandbox and Decentraland.
- Grayscale Decentraland Trust now manages $64.9 million in MANA tokens.
Decentraland is the favorite of institutional investors. The metaverse token saw a spike in inflows from investment firms. Grayscale’s Decentraland Trust has attracted high net worth institutions and investors over the past nine months.
Decentraland dominates the Metaverse with capital inflows from institutional investors
Institutional investors have started pouring capital into Decentraland as Metaverse gains popularity. Grayscale Decentraland Trust, an investment product for institutions and high net worth investors, invests only in MANA.
The Trust has invested over $64.9 million in Decentraland tokens, allowing investors to gain exposure to MANA as security without having to buy, store and hold the token.
Tokens.com recently purchased 116 parcels of digital real estate from Decentraland for $2.52 million.
Decentraland was second to Sandbox in total volume traded over the past week. However, the 10 most expensive Metaverse sales ranged from $758,250 to $220,000 on Decentraland. Metaverse’s total trading volume was $1.4 billion in the past 24 hours.
Decentraland price has seen 16% gains in the past 24 hours as the rotation of capital from Bitcoin to MANA continues.
Analysts use Decentraland and Sandbox price trends as an indicator for metaverse tokens. Decentraland price recovered from the December 4 flash crash and analysts observed a hidden bullish divergence in the metaverse token.
Decentraland price made a gigantic recovery attracting new investors to the metaverse token.
FXStreet analysts assessed the Decentraland price trend and predicted that the metaverse token could eventually rally to $5, with a break above $4.50 providing confirmation.