Decentraland (MANA) Trading Predictions For 2022 Onwards
Decentraland and its cryptocurrency token MANA have made an interesting addition to the DeFi sector. MANA has gained substantial investment interest since surges began sweeping the cryptocurrency market in early 2021. However, although MANA may seem like an ordinary cryptocurrency in terms of market statistics, the story of Decentraland is far from usual.
The Ethereum blockchain is a popular host for alternative cryptocurrencies (altcoins), which then use Ethereum tokens as a basis for their compatible tokens. These tokens, or coins, are then the units of each cryptocurrency. This is a common set-up in the DeFi sector and Decentraland’s coin MANA is no exception.
Decentraland itself, however, is a highly unusual idea. Decentraland is not just the name of the body overseeing MANA, they have actually built a platform that uses 3D virtual reality technology. In this way, Decentraland has been made real, within this virtual space, and MANA is the currency that allows Decentraland to function.
To ensure that Decentraland remains a decentralized system, it is governed by a Decentralised Automated Organisation (DAO). The DAO controls most of the main features and options within Decentraland and is subject to the votes of Decentraland users. This keeps Decentraland decentralized and firmly within the ever-growing DeFi sector.
This is an important core feature for many investors looking to expand the DeFi section of their portfolios. If you are interested in investing in MANA in 2022 then there are some basic features of Decentraland to factor in.
While the concept for Decentraland was launched by Ari Meilich and Esteban Ordano in 2015, this was only a prototype. At this point, the project seemed to have much less investment potential. Back then it was a system for using the proof-of-work system (used by coins like Bitcoin) to allocate squares on a grid.
An early version of Decentraland was launched in 2017. But it wasn’t until the 2018 join with Animoca Brands which resulted in raising $1M in MANA that the concept really took off. The 3D virtual reality aspect of the project was then fully developed and the non-profit Decentraland Foundation re-opened Decentraland publicly in 2020.
From 2020 onwards Decentraland really made its mark in the DeFi industry and the cryptocurrency market. The platform which was initially selling squares of land for around $20 was now auctioning virtual land space for over $100,000. This gained the interest of global investors looking to get in on this new profitable venture, in such a unique area.
The Decentraland world gives their coin MANA huge applicational options and supports its stability and future growth. Like many cryptocurrencies, MANA had a large surge in 2021. Decentraland itself was also massively boosted by the huge growth in the virtual art market. These factors are some of the reasons to add MANA to your portfolio in 2022.
Decentraland And The Ethereum Blockchain
Ethereum is used across the DeFi sector as a basis for other crypto coins which function off of the Ethereum blockchain rather than building a separate platform from scratch. The Ethereum blockchain is a decentralized database much like that of Bitcoin. However, it can also store a much wider variety of data and decentralised application information than Bitcoin’s cryptocurrency ledger.
This makes it the ideal place to situate Decentraland and the MANA coin. Users and investors can also benefit from the use of a widely tried and trusted blockchain system. As the blockchain is a way of storing data it is used by Decentraland to keep track of all of their transactions and user’s 3D digital assets.
As Decentraland is an unusual concept, investors and users have appreciated the alignment with Ethereum’s recognisable system and features. Users also have some control of what they would like to store on the Ethereum blockchain providing additional security flexibility.
The Decentraland Marketplace
As well as using MANA in the traditional way, buying and selling it as an asset in its own right, Decentraland offers scope for various other investments. The Marketplace on their platform allows the trade of 3D assets and virtual land, which can be bought and sold for profit. This is all done using MANA, which adds another branch to the investment.
Some of the 3D and virtual ideas bought and sold using MANA are names, wearable items within the world of Decentraland and Estates within the virtual platform. These may sound like strange ways to further your investment, however, virtual land can fluctuate in price in similar ways to the traditional land market. This has led to huge profits being made by some users of MANA already.
Trading MANA To USD
MANA was not an obvious choice for investment during its early years. MANA was a very cheap coin, like most cryptocurrencies in their infancy and MANA really struggled to get off the ground. MANA experienced a very prolonged resistance period which led to years of sideways trading. This kept MANA hovering around the $0.04 mark for most of its existence until the 2021 crypto boom occurred.
MANA gained pace along with the rest of the cryptocurrency market in early 2021. Early investors saw massive percentage returns on their previous inexpensive investments. MANA quickly breached the $1 threshold and managed an all-time high of $1.63, which was a huge leap from the previous low price pattern. This signalled that there was now definitely money to be made with MANA.
This excitement was cut short when MANA was hit by the difficult trading period which swept across the crypto market in May 2021. The cryptocurrency market as a whole experienced some severe losses during June and July 2021 and MANA dropped in price to below $0.40. While this was a blow to new investors at the time, this did open up options for buying the dip. MANA also did not drop to its previous position closer to $0.04 which was a positive factor that allowed for quicker recovery.
MANA has been recovering over the past month from the previously bearish downward trading pattern. There has not been a return to the bullish trading seen in the first half of 2021, but the upward trend is a good sign. Over the course of August 2021 MANA has made a substantial move back towards the all-important $1 mark. This is a very positive rate of recovery compared to other coins on the market and puts MANA in a positive position going into the final quarter of 2021.
Will MANA Rebound From The Last Correction?
MANA experienced its post-peak correction just as the market shifted into its May to July downturn. Elsewhere in the crypto market cryptocurrencies were experiencing crashes that were substantially lower than their correction position. However, MANA dropped from the post-correction coin price of $0.62 to around $0.42 which was nowhere near the losses expected from the downturn.
Given this robust performance, compared to other altcoins on the market, MANA is in a good position going into the final quarter of 2021. MANA is likely to recover from the correction completely by the end of 2021, before going into 2022.
As MANA has already returned to the correction point, its upward trajectory should now take it back up towards $1.63. If the rate of recovery holds at its current pattern, then MANA should surpass this price by the start of 2022.
Predictions For MANA Price In 2022 And The Future
MANA is on a good recovery trajectory as we move towards 2022. Now that MANA has broken free of its previous sideways trading pattern it is in an excellent position for future growth, whilst still being a very cheap coin to invest in during 2021 and early 2022.
MANA is also making impressive strides within the Decentraland platform. Where virtual land was selling for $20, June 2021 has seen large plots sell for nearly $1M. This extreme growth in the internal market for MANA and the available applications for the coin makes MANA a particularly exciting investment opportunity going into 2022.
The January 2021 upgrade to Decentraland version 2.0 is also adding momentum to the cryptocurrency moving forward as the more accessible model should boost market adoption.
Decentraland is also at the forefront of the virtual reality revival taking place post-covid-19. This gives investment in this area the added bonus of being subject to the rapid growth of both the DeFi and the VR industries.
Decentraland is a centre for events that join the world of cryptocurrency to that of the gaming and virtual reality industries to create a profitable outcome. Some of the most recent are club nights, series premieres and sporting events:
‘These events are always such a good time at the @metazooxyz ! Awesome music and wearable giveaways?’
‘Hanging out waiting to watch the @DeadHeadsNFT animated series Season 1 Ep1!’
‘Witness a global first as @IAmAutomobilist brings the revered @24hoursoflemans race to the #metaverse. Artworks, animated turnarounds and classic moments from the ‘40s to the ‘70s and an interview with @Andre_Lotterer’
- @decentraland, Twitter account of Decentraland
The virtual land prices have already begun to skyrocket, investors are watching MANA closely to see if this will affect the coin price. For those investing in Decentraland itself, there is a double incentive to get involved within this cryptocurrency which is expanding in multiple different ways.
The MANA predictions are uncertain due to Decentraland’s complex relationship with multiple industries and analysts are predicting growth to between $2 and $10 in 2022. The higher estimate puts MANA in a very profitable position moving forward.
In the lower estimates, analysts are predicting a volatile upward trend for MANA over the next 5 years. This would put the price of MANA at $6 -$7 by 2026-2027. This is a conservative estimation, based on the MANA performance alone, not taking on board the wider investment opportunities with Decentraland.
If the faster upward trajectory takes effect during 2022 then MANA could be closer to $10-$15 by 2023 and continue on to multiple surges in the following year.
MANA Price Forecast For 2022
The next year of market trading is likely to hold good things for MANA. This cryptocurrency has gained a lot of ground in 2021 and has capitalized more than most on the market-wide boost. Given the recovery rate after the market-wide dip in coin price, the MANA prices are likely to rise consistently throughout 2022.
As the correction recovery is just beginning, having previously returned to the price before the dip, the coin price is still low enough to buy in at a cheap point in the trajectory. For those investing during this last quarter of 2021 and the early months of 2022, profits are likely as the MANA trading pattern moves toward the $1 and then $2 mark.
Due to so many factors at play, the MANA price predictions moving forward are extremely contradictory. The lower estimates are not expecting much further growth in 2021, with the coin remaining at $0.60, however, others are expecting the crypto coin to hit $10 in the near future. This would be exceptional percentage returns in 2022.
eToro – The Best Platform to Buy Decentraland
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.
Who is behind Decentraland?
Decentraland is overseen by the Decentraland Foundation which is a non-profit organisation. It is also governed by a DOA which consists of users of Decentraland, which keeps the system on its decentralized path.
The initial idea was put together by two Armenian computer developers Ari Meilich and Esteban Ordano. Animoca Brands also helped with the technological development of the 3D virtual reality aspect of the platform.
What is Decentraland?
Decentraland is a 3D virtual reality platform that is powered by the MANA cryptocurrency. The cryptocurrency and platform are built using the Ethereum blockchain. The Ethereum technology supports the MANA coin and stores necessary information from the Decentraland program.
Decentraland allows for powerful applications of MANA into other types of digital assets, mainly 3D virtual assets and ideas such as naming rights. MANA is also bought and sold outside of Decentraland just like other decentralized cryptocurrencies.
How does MANA compare to the market?
MANA has shown robust performance against the cryptocurrency market during 2021. MANA is 70th in terms of market capitalization as it has a low market cap of $1.56B.
However, MANA is only at the beginning of its expansion, which makes this a respectable position, and one likely to change over 2022.
Should I invest in MANA in 2022?
MANA is currently looking like a good investment going into 2022. There are initial profits to be made by buying cryptocurrency during the market recovery period taking place at the time of writing.
MANA is also predicted to see profits from investments made currently as we move into 2022 and in future years. This expected progression is supported by the Decentraland platform’s expansion currently and planned growth.
Is MANA still going to go up?
MANA is expected to go up throughout 2022. Market experts are conflicted about the amount of growth but they are confident that MANA will continue its upward trajectory during 2022 and longer-term.
Some are expecting slow growth while others feel that MANA will continue to see surges now that the coin has broken away from its long term sideways trading pattern.
What will MANA prices rise to in 2022?
MANA prices are predicted to rise towards the previous all-time high of $1.63. It is expected to exceed the $2 mark in 2022 but some market experts are predicting a surge to $10 before 2023. This would mean extremely high percentage returns for investments made in 2021 and early 2022.