MANA - Up 133% Already in 2023 Is This Metaverse Crypto a Buy?
What a difference a year makes. In 2022, some metaverse cryptos were down more than 90% for the year, and many analysts had already written off the metaverse as a potential investment option. However, through the first two weeks of 2023, the script has flipped. Metaverse tokens are now the best-performing sector in the crypto market.
Leading the charge has been Decentraland (CRYPTO: MANA) , which at one point was up more than 133% in 2023. Sentiment seems to have shifted dramatically on the prospects of this metaverse token. Moreover, sentiment has shifted nearly overnight. So is Decentraland a buy?
When it comes to the metaverse sector , understanding investor sentiment is key. It has truly been a roller-coaster hype cycle for the metaverse during the past 18 months. Back in 2021, anything "metaverse" was golden, and Facebook even went so far as to change its name to Meta Platforms to achieve first-mover status in the metaverse.
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Up 133% Already in 2023, Is This Metaverse Crypto a Buy?