While December is usually a hot month for crypto, the first half of this month has been quite rough for cryptocurrency markets. Even with the bearish momentum, Metaverse coins dominate the crypto scene with some impressive trading volume. This article lists the top traded Metaverse coins in the past 24 hours, ordered by trading volume, lowest to highest.
THETA (THETA) – $159 million
THETA describes itself as the “next-generation video and entertainment blockchain-powered by you.” It includes an NFT marketplace and a fully open-source code available on Github.
THETA features impressive partners for its enterprise validator nodes, including Google, Sony, Samsung, Binance, Blockchain, and more.
According to THETA’s official website:
“The Theta blockchain is the only end-to-end infrastructure for decentralized video streaming and delivery that provides both technical and economic solutions”
In recent news, THETA received significant attention when Katy Perry announced her first-ever NFT drop, exclusive with the THETA network.
Let’s look back as we move forward to
#PLAY
My
FIRST EVER
pic.twitter.com/yIS7GKBq4N
— KATY PERRY (@katyperry) December 14, 2021
At writing, THETA is trading at $3.98, up 3% in the past 24 hours. Its market cap is $3.93 billion, with a 24-hour trading volume of $159 million.
You can purchase THETA on Binance, Huobi Global, KuCoin, Gate.io, Crypto.com, Bithumb, and more.
Enjin Coin (ENJ) – $228 million
Enjin Coin is making moves in the Metaverse space with its Efinity chain. Founded in 2009, ENJ is the ERC20 token powering the Enjin Platform. The goal of the Enjin Platform is to:
“make it easy for individuals, businesses, and brands to use non-fungible tokens (NFTs).”
Moreover, ENJ is used to back the value of NFTs minted on the Enjin platform. Enjin is currently focusing on the NFT side of things as anyone can now buy, sell and trade NFTs on the platform. The goal is to make NFT accessible to anyone and make it easy to participate in the NFT ecosystem.
Efinity is Enjin’s Metaverse blockchain. Last month, Enjin announced a $100 million fund for accelerating the development of the Efinity Metaverse ecosystem.
In recent news, Efinity is looking to expand its Metaverse infrastructure for the Polkadot ecosystem. Efinity already has integrations with Microsoft, Samsung, and Ubisoft, as it is one of the most underrated projects right now.
While Enjin has a market cap of $1.9 billion, Efinity’s valuation is at $175 million. As the Enjin team continues to integrate and develop on the Efinity blockchain, there’s no doubt that both projects can see a significant increase in valuation.
You can purchase ENJ on Binance, Coinbase Exchange, Huobi Global, Crypto.com, KuCoin, FTX, Kraken, and more.
Axie Infinity (AXS) – $345 million
We can’t talk about top Metaverse coins without mentioning Axie Infinity. Axie Infinity is one of the most popular blockchain-based games, so popular in fact that the team behind the game built a whole blockchain specifically for the game.
The blockchain is called Ronin and is a sidechain of Ethereum. Ronin also features a full-fledged decentralized exchange called Katana, offering similar services to Uniswap and PancakeSwap.
Axie Infinity is a perfect example of a game creating its own ecosystem and rising in value and popularity. It also features an ERC-20 token – AXS – used as currency on the Axie Infinity platform. AXS allows you to interact with the platform, buy, sell and trade Axies.
Axies are monsters with specific traits and can be upgraded or traded. Players can use their Axies to battle other players in an arena and earn rewards.
Axie Infinity has some of the best designs from all the Metaverse projects I’ve seen. Their highly active marketplace is a big reason AXS has over $345 million in trading volume alone over the past 24 hours.
You can purchase AXS on Binance, Coinbase Exchange, FTX, Kraken, Crypto.com, and more.
Decentraland (MANA) – $665 million
Decentraland is a 3D blockchain-based metaverse that allows players to buy plots of land and explore the virtual universe. There are a variety of experiences available, such as Casinos, Concerts, Galleries, and much more.
Decentraland has been open to the public since February 2020 and is the longest-running 3D Metaverse project in crypto. The only other project that comes close to what Decentraland has to offer is The Sandbox, currently valued at over $6.9 billion ahead of their alpha launch.
Anyone can check out Decentraland by visiting their official website and connecting using MetaMask. Make sure that your wallet is set on the Ethereum chain, and have fun exploring!
Decentraland is my favorite project since it’s the pioneer in 3D in-browser Metaverses. The only game in the same league as Decentraland is The Sandbox, and even it’s not a browser-based game.
MANA is the second most traded Metaverse coin today, with over $600 million in trading volume. Its market cap is $5.68 billion, showing just how much interest surrounds the project.
You can purchase MANA on Binance, Coinbase Exchange, KuCoin, FTX, Kraken, Crypto.com, and more.
The Sandbox (SAND) – $1.16 billion
The Sandbox features a 3D Metaverse, allowing users to buy plots of land and monetize them. The Sandbox also offers a gamified experience that includes quests, games, and challenges to earn rewards.
Unlike Decentraland that has been live since February 2020, The Sandbox recently launched its Alpha on November 29th. We did a review on SAND’s Alpha Launch and were impressed with the smoothness of the game and the overall quality of the Metaverse. The Alpha is scheduled to close on December 20th, you still have a week to check it out!
The Sandbox offers similar experiences and overall layout to Decentraland. Both have a central Hub allowing players to travel to different islands. Both have NPCs and various interactive in-game structures, allowing players to complete quests, craft items, etc.
SAND is the most traded Metaverse cryptocurrency today, with the only surpassing $1 billion in trade volume over the past 24 hours. Its market cap is $4.28 billion, making it the third-largest Metaverse coin on this list.
You can purchase SAND on Binance, KuCoin, FTX, Crypto.com, and more.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency.
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