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Decentraland (MANA) loses 90% in 2022 despite solid NFT volume performance

Decentraland (MANA)introduced by Ariel Meilich and Esteban Ordano in 2020 cryptocurrencyhas not been able to capitalize on some of the positive developments that have happened in its ecosystem this year as it is ending 2022 in a “battered” state.

Over the past 12 months, the digital coin has lost 91% of its value, failing to recover from massive price declines triggered by a series of unfortunate events that have plagued the crypto space and growing uncertainty in the market.

According to last tracking of coingeckoat the time of writing, the digital token is changing hands at $0.2941 and has lost 10.3% of its value over the past seven days.

The past 30 days have also been rocky for Decentraland, as the altcoin ended up losing 27.3% in value.

This is really unfortunate considering that the crypto ecosystem in the NFTarea has made impressive progress.

Decentraland: 440% growth in minted NFTs

The metaverse-based gaming platform seemed to have focused most of its attention on the non-fungible token (NFT) space this year, as evidenced by this incredible performance affect the industry.

In its year-end performance report, Decentraland announced that 2.7 million unique NFTs were published on its platform for 2022.

With such a number, the project saw a 440% year-on-year (YoY) increase in the volume of NFT assets minted on its network.

Decentraland was also proud to announce that 2022 will end with a unique active user count of 1 million, after seeing a 13% increase in that particular department over the past 12 months.

In addition, the project managed to increase its sales volume by 510% over the same period, having sold 143,900 wearable NFTs.

However, even with this outstanding performance, Decentraland’s MANA failed to break its decline.

Decentraland (MANA) loses 90% in 2022 despite solid NFT volume performance, Crypto Trading NewsCrypto Total Market Cap at $755 Billion on Daily Chart | Chart:

What MANA holders can expect in 2023

There is some good news for holders of the Decentraland altcoin as Coincodex predicts a potential appreciation in the coming days.

According to the Online Cryptocurrency Information ProviderThe trading price of the digital asset is expected to increase by more than 2% in the next five days and will change hands at $0.2977.

Meanwhile, the crypto is expected to revisit and surpass $0.30 in 30 days as it is expected to trade at $0.3305.

If these predictions play out in reality, MANA holders and investors could finally find some breathing space to take a break from the challenging landscape of today’s crypto industry.

Featured image: Lumiere Children’s Therapy

Source: Crypto News Deutsch

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