The Metaverse, a virtual universe where users can communicate, play, and do business, is experiencing a massive resurgence, and metaverse-based cryptocurrencies are at the heart of this movement. These tokens allow users to participate in virtual economies by purchasing virtual land, clothing, avatars, gaming gear, and digital art—often in the form of NFTs (non-fungible tokens). After fading somewhat during the 2022 bear market, the sector is showing renewed strength, with several tokens gaining significant traction in 2024.
In this blog, we dive into some of the best metaverse crypto coins to watch in 2024. These tokens are gaining momentum and are poised to continue to grow as the metaversion concept expands.
- Internet Computer (ICP)
The Internet Computer (ICP) is one of the most ambitious projects in the decentralized space. It aims to revolutionize the centralized internet by providing a decentralized alternative. This project has destabilized the market with its huge market capitalization, which now exceeds $5 billion. ICP started with an explosive price jump, reaching an all-time high (ATH) of $750 before a bearish decline.
Recently, however, the token has seen a surge in volume that has pushed its price by more than 55% since the start of the year. With prices hovering around $18-20, there is a possibility of a strong uptrend to cross the $50 mark in the coming months, making it a key player in the metaversion space.
- Stacks (STX)
Stacks (STX) is a Layer 1 blockchain solution designed to bring smart contracts and decentralized applications (DApps) to Bitcoin. It unlocks the $500 billion capital potential of Bitcoin by using it as a settlement layer for decentralized applications. The STX token has seen a major rally, rising more than 380% from its lows.
Although currently facing minor declines as it nears resistance, the STX token has made a double bottom, indicating the potential for further price growth. Once the token breaks its current resistance, it could see significant gains, possibly even higher than $2, making it a token worth watching in 2024.
- Axie Infinity (AXS)
Axie Infinity is a blockchain-based gaming platform where users can collect, breed and trade token-based creatures called Axies. The AXS token, associated with this game-earning ecosystem, gained huge popularity in 2021, but has seen a decline along with the rest of the crypto market.
In 2024, Axie Infinity returns. The token has seen an increase of more than 160% in recent months, supported by increased trading volume. AXS is now trading near its 2023 highs of $12, and with reduced selling pressure, bulls are expected to push the token to $15 in 2024.
- Sandbox (SAND)
Sandbox is one of the leading virtual world platforms where users can create, buy, sell and trade digital assets. By combining decentralized governance (DAO) and NFT elements, it offers a powerful platform for gaming enthusiasts and creators.
After a long-term bearish trend, SAND rebounded strongly and its price increased by 140%. The token is now poised to break the $1 barrier and could test higher levels if the current momentum continues, making it a token to watch closely this year.
- Decentraland (MANA)
Decentraland, a virtual reality platform built on Ethereum, enables users to create and monetize content, experiences and applications. It contains two native tokens: MANA, an ERC-20 token, and LAND, an ERC-721 token used to purchase virtual land.
MANA has shown remarkable strength in recent months, rising by over 100%. Historically, this token has seen massive returns with an 8000% increase since its inception. With increased trading volumes and a price now moving towards $1, MANA is well positioned for a new rally that could trigger new highs in 2024.
- Theta Network (THETA)
Theta Network is a decentralized video streaming platform that allows users to share bandwidth and computing resources in a peer-to-peer environment. THETA, the network’s native token, rose significantly during the 2021 bull run, but then faced a decline.
Currently trading around $1.44, THETA is poised for a potential breakout. As market sentiment is expected to change soon, experts predict that THETA could climb above $3, making it a key token to watch.
- ApeCoin (APE)
ApeCoin is a native token of the Apecoin ecosystem that aims to support decentralized communities. APE holders manage the ecosystem through a decentralized autonomous organization (DAO) and have a say in how the platform evolves.
In recent months, the APE token has seen an upward momentum and recorded a 100% increase. While some bearish pressure has slowed its rise, renewed buying activity could propel the token into a strong uptrend, making ApeCoin a contender in the metaverse crypto space in 2024.
- Enjin Coin (ENJ)
Enjin Coin powers a connected ecosystem of blockchain-based gaming products. Developers can use ENJ to tokenize gaming assets on Ethereum, making it a key player in the blockchain gaming space.
ENJ has rebounded from recent lows to create a 100% price rally. Given the pace of blockchain-based gaming, Enjin Coin could maintain its growth in 2024, making it a promising token to watch.
Conclusion:
Metaverse is set to be a major trend in 2024, with metaverse crypto coins showing strong growth potential. From gaming-oriented Axie Infinity and Sandbox to decentralized internet projects like Internet Computer and Theta Network, these tokens represent exciting opportunities in the ever-evolving digital economy. However, as with all crypto investments, volatility is a key factor to consider. A careful and calculated approach is essential when browsing metaversions.
Emerging tokens such as HighStreet (HIGH), Star Atlas (ATLAS) and MAGIC also show huge potential and increasing excitement around the crypto-token metaversion. Keep these top metaverse Crypto coins on your radar as we move into 2024!
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