Bitcoin (BTC) managed to close the first month of the new year in the dark green. The price of bitcoin has increased by 40% in the past month. This made January the best performing month for bitcoin since October 2021.
Many other major cryptocurrencies such as ethereum (ETH), binance coin (BNB) and ripple (XRP) were unable to outperform the king of cryptocurrencies. However, Metaverse-related tokens managed to outperform bitcoin many times over.
Sandbox and Decentraland
Decentraland (MANA) was one of the best performing crypto in the past month with an overall increase of a whopping 143%. It started the month with a value of around $0.30, but at the time of writing, the price is around $0.73. Despite this excellent increase, the price is still far from being all time high. During the previous bull market, MANA managed to reach a high of $5.12.
The increase in MANA seems to be related to the announcement of some new features mid-month. However, were the user figures of the platform did not increase significantly.
Sandbox (SAND) also managed a very nice increase over the past 31 days. It started the month with a price of $0.38 and at the time of writing, the price is equivalent to $0.71. With this, it closed the month of January with about 87% in the green. However, the price has had to undergo a slight correction, as it was even at $0.84 at its peak.
metaverse growth
Earlier this month you could read in the altcoin news that the consultancy firm McKinsey & Company expects enormous growth for the metaverse. According to the company’s researchers, the overall metaverse industry could be worth $4 to $5 trillion by the year 2030. Currently, this industry is worth “only” $300 to $400 billion.
Yesterday we listed the strongest crypto prices of January for you