Crypto Wrap: Metaverse Tokens Boom as Major Coins Seek Support

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Crypto Wrap: Metaverse Tokens Boom as Major Coins Seek Support

By Oliver Gray

Investing.com - Cryptocurrency markets remained squarely in investors’ crosshairs this week as major tokens seek support levels after retreating from record high valuations two weeks ago, while Metaverse-related tokens saw impressive price action as Morgan Stanley (NYSE: MS ) analysts predicted that the metaverse will see a total addressable market of over $US8 trillion, including real estate, core retail spend, autos, games, music, and restaurants.

The most popular Metaverse-related tokens - Axie Infinity , Sandbox , Decentraland and Alien Worlds can best be described as blockchain projects focused on providing users with the ability to create their own virtual worlds and allowing players to monetize their experience via collecting in-game cryptocurrencies or non-fungible tokens.

Among other tokens, Bitcoin was down 2.26%, Ethereum lost 1.32%, Binance Coin added 0.64%, Shiba Inu gained just 0.14%, Crypto.com Coin gained 2.68% while Stellar dipped 2.92%.

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