Investment firms are pouring capital into Decentraland
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- Investors scramble to snatch up virtual plots of land in the Decentraland metaverse.
- Analysts criticize Sandbox for copying Decentraland’s Metaverse in many ways, considering MANA a dominant metaverse token.
- As Bitcoin price struggles to recover from a drop below $57,000, capital rotates into Sandbox and Decentraland.
- Grayscale Decentraland Trust now manages $64.9 million in MANA tokens.
Decentraland is an institutional investor’s favorite. The metaverse token has witnessed a spike in inflows from investment firms. Grayscale’s Decentraland Trust has attracted institutions and high net worth investors over the past nine months.
Decentraland dominates Metaverse with capital inflow 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, solely invests in MANA.
The Trust has invested over $64.9 million in Decentraland tokens, enabling investors to gain exposure to MANA as a security without the challenge of buying, storing and safekeeping the token.
Tokens.com recently purchased 116 parcels of digital real estate in Decentraland for $2.52 million.
Decentraland was second to Sandbox in total volume traded over the past week. However, the top 10 most expensive metaverse sales ranged from $758,250 to $220,000 on Decentraland. The total transaction volume of Metaverse has been $1.4 billion over the past 24 hours.
Decentraland price has posted 16% gains over the past 24 hours as capital rotation from Bitcoin to MANA continues.
Analysts use Decentraland and Sandbox price trends as an indicator for metaverse tokens. Decentraland price has recovered from the flash crash on December 4, and analysts have observed hidden bullish divergence in the metaverse token.
Decentraland price pulled off a gigantic recovery attracting new investors to the metaverse token.
FXStreet analysts have evaluated the Decentraland price trend and predicted that the metaverse token could make a recovery to $5 eventually, with a break above $4.50 providing confirmation.
