Welcome to Metaverse Market Analysis! We are excited to provide you with the latest stats and data on the overall state of the Metaverse market. Our column is in partnership with the incredible team from OneLand, a leading financial platform for virtual lands in the Metaverse. In this week’s analysis, we will be focusing on the stats for June 19 – 25, 2023, provided by OneLand.
Meta Rankings – Market Cap (7D)
According to OneLand’s 7-day data, the total land cap for the top 10 projects in the Metaverse market has decreased by 0.82% to 705,896 ETH (equivalent to $1.341 billion, representing a 9.5% increase in USD terms). This increase in USD terms can be attributed to the recent mass crypto rally sparked by Blackrock’s filing of its Bitcoin ETF, which resulted in a 10.4% increase in ETH and an overall crypto market cap increase of 11.95%. Metaverse tokens, such as $SAND (+12.8%) and $MANA (+14.7%), also followed this positive trend in their prices.
Top Weekly Performer by Average Price / MV Heat Index (7D)
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Decentraland, one of the leading Metaverse projects, experienced its highest weekly trading volume in nearly 2 months, with a significant increase of 112%. This surge in trading volume can be attributed to the exchange of 6 separate Estates. On the other hand, TOPIA, which saw a boost in excitement due to the handout of $TOPIA for those who staked in the first 3 days of its new Worlds staking program, experienced a decline in 7-day volume by 57.2%. However, despite the decline in trading volume, the average price of TOPIA rose by 19% due to two high-priced sales of 9.0 and 8.8 ETH, indicating an increase in the perceived market value of TOPIA Worlds.
Trade Plots (30D)
BYOPills witnessed its highest daily sales in 10 months on June 21, leading to an astonishing weekly volume increase of 520%! This surge in trading activity indicates a significant increase in interest and engagement with the project. Similarly, the up-and-coming MMORPG Treeverse experienced an exciting week, with sales soaring by 440%.
These trading booms at BYOPills and Treeverse, however, did not result in a significant move in land caps for either project. Despite the increased trading activity, the land caps remained stable.
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For more detailed explanations of our data calculations, please check out our documentation at docs.oneland.world/. Additionally, you can find metaverse market and project data at oneland.world.
OneLand is a comprehensive MetaHub that provides Metaverse data & analytics, a Land NFT marketplace, LandFi tools, and a Metaverse MediaHub. Our mission is to make it easy for you to discover, access, stay tuned to, research, and invest in the metaverse projects you love most.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
At NFT Plazas, we strive to provide you with the most accurate and up-to-date information regarding the metaverse market. Our collaboration with OneLand allows us to offer comprehensive analysis and insights that can help you navigate the ever-evolving world of the metaverse. Stay tuned for more exciting updates and data trends in the coming weeks!
