Is Decentraland a Good Investment And Should I Invest in MANA?
Decentraland Could Become the Next Medium-Cap Cryptocurrency
Have you been wondering if now is the time to buy Decentraland? Maybe you are unsure if Decentraland has got a lot of factors that make it safe to invest in.
If you are new to the possibilities of virtual reality blockchain platforms that make you alien to Decentraland investing, you may have asked lots of questions. The most consistent questions that mostly trend online are, is Decentraland a good investment, and should I invest in MANA?
Well, as per the extensive research conducted by Trading Education, Decentraland is likely a good investment, and investing in Decentraland could be one of the best financial decisions you have taken in a long time.
Decentraland (MANA) has increased substantially since 1st January 2021. Having returned more than 2,535.15% yearly with the technical analysis pointing the digital asset towards an uptrend, MANA shows no signs of slowing down. This is the primary reason why experts across credible and authentic cryptocurrency forecasting portals believe the MANA token has plenty of room to grow. There are 100s more who believe that investing in Decentraland with an eye on the long term could lead to a high percentage yield. Therefore, the year 2022 where Decentraland continues to benefit from the boom in decentralized finance and interest in digital assets continue to soar could be the right time to invest in MANA.
One of the biggest reasons to invest in Decentraland is the increased adoption of the platform by high-profile institutions such as Sotheby’s Auction House. Sotheby’s is the premier destination where auctions and private sales of Watches, Wine, Jewelry, and Old Master Paintings among others take place.
By creating a virtual gallery, its 172,400 followers on Twitter and more across its social media channels can patronize Decentraland and buy products using MANA. If more auction houses, artists, and galleries create a virtual version of their infrastructures, increased usage of Decentraland can reflect positively on the price of its cryptocurrency. But that’s just one of many reasons why investing in Decentraland could become highly lucrative.
In this article, we are going to break all Decentraland-related myths circulating online and help you decide on whether you should consider investing in Decentraland.
If you want to invest in Decentraland easily and quickly, with 0% commission, check out eToro Exchange!
- What Is Decentraland? A Simple Explanation
- Is Decentraland (MANA) A Good Investment?
- Should I Invest in Decentraland (MANA)?
- Should I Invest in Bitcoin or Decentraland?
- How Much Could Decentraland Be Worth?
- Who Should Include Decentraland (MANA) In Their Portfolios?
- Is Investing in Decentraland (MANA) Risky?
- Does Decentraland (MANA) Have a Future?
- Conclusion: Is Decentraland (MANA) a Good Investment?
What Is Decentraland? A Simple Explanation
Decentraland is one of the most popular virtual reality platforms that run on the Ethereum blockchain. Decentraland allows its users to create, experience, and monetize content and applications. As a virtual world, Decentraland is run by its users. Every item or piece of land in the virtual land is a non-fungible token.
Decentraland was created in 2017 by Ariel Meilich and Esteban Ordano, went through several tests, and was finally released to the general public in February 2020. Decentraland has two tokens which are LAND and MANA. As an ERC 721 token, LAND is a non-fungible token which means each token is unique. LAND ensures that details of a particular land are stored on a blockchain and can later be traced.
As an ERC 20 token, MANA is not like LAND. There are no individual characteristics that differentiate MANA tokens. This makes the MANA token ideal for running the virtual economy of Decentraland. As a result, MANA plays an essential role in Decentraland’s virtual world and can be used for transactions within the ecosystem. What’s more, MANA holders also participate in the management of the platform.
Decentraland has made it possible for developers, individuals, and businesses to embark on several activities. Among them are, you can socialize and chat with people especially in the new normal of wearing masks and adhering to protocols. You can also buy a property with your MANA tokens and design your landscape.
Whether you would like to create an estate, mall, or gallery to attract people, Decentraland offers the platform to do so. Aside from these, you can use the virtual reality platform to play world games, create a business that can bring you huge sums of money periodically, and go shopping online.
All of these affordable opportunities brought forth by such a great innovation provide an ecosystem where MANA flows effortlessly.
This is the primary reason why several analysts and experts have made price forecasts that could see MANA become a medium-cap asset and later a large-cap asset. Others believe that it may one day command the same prices as other DeFi coins such as Compound (COMP) and Uniswap (UNI) in the long term.
Decentraland Investing: Getting Started
After setting up an amount of money you are willing to risk, you need to find a reputable cryptocurrency trading platform to aid in your quest to invest in Decentraland (MANA). According to Investopedia, “A trading platform is the software that enables investors and traders to place trades and monitor accounts through financial intermediaries.”
Several top cryptocurrency trading platforms list MANA. In our quest to educate people about the possibilities of assets that include cryptocurrencies, we have to ensure our readers find the best platforms for their hard-earned money. This is the primary reason why we would like to recommend eToro for your investment activities.
Why eToro? eToro is one of the world’s leading social trading and investing platforms that offers investment opportunities in stocks and cryptocurrencies. Unlike most of the cryptocurrency exchanges that were created recently to take advantage of the interest in decentralized finance, eToro has been in operations since 2006. With more than 1,200 employees providing quality services over 15 years, eToro has operated without incident. This is the primary reason why it has registered offices in the United Kingdom, Australia, and the United States. Aside from these, eToro records huge sums in daily trading volumes. This means that MANA is being exposed to more than 20 million registered users as of 3rd June 2021.
Kindly follow the steps below and you would be on your way towards investing in MANA.
SIGN UP for an eToro ACCOUNT. It would be impossible for you to buy MANA on eToro without having an account with them. Since eToro is a centralized, not a decentralized trading platform, you would be asked to provide essential details. Details include full legal name, contact number, email address, and residential address.
VERIFY YOUR ACCOUNT through the KNOWING YOUR CUSTOMER phase. Decentralized exchanges normally forgo this process, but eToro needs to verify your identity. This helps prevent the growing number of credit card and identity frauds being reported to the authorities daily. The verification team will ask you to upload documents that confirm the details earlier on input. A government identification card that has your signature will be requested. More often than not, eToro asks for bank & credit card statements or receipts of bills so that they can confirm your billing address and fully verify your account.
YOU MUST DEPOSIT FUNDS. Although we are doing all we can to do away with fiat currency, it is still important in your quest to own cryptocurrencies. Choosing from a range of options available on eToro such as Credit/Debit Cards, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL, Klarna/Sofort Banking, and Bank Transfer, you can uploads funds in United States Dollars (USD), Euro, and Great Britain Pound (GBP).
NAVIGATE to the DECENTRALAND (MANA) PAGE. With the amount of money, you can afford to lose, buy 1 or several MANA tokens. In less than 1 minute, eToro will process the transaction and your MANA coins will be added to your account.
Is Decentraland (MANA) A Good Investment?
As Decentraland is among the most popular virtual reality platforms that record huge volumes and sales, many crypto experts believe that MANA is a good investment when compared to other DeFi coins, and some mainstream cryptocurrencies. Despite all the ups and downs in MANA’s trading history, analysts think Decentraland’s price could grow further in the long term.
One of the factors that will influence investing in MANA in 2021 is the continuation of the platform to see extensive usage. On Wednesday, 9th June 2021, it was reported that Blockchain protocol Boson Pays Record $704,000 For Decentraland Plot to Create a Virtual Mall. Boson is known in the space for the provision of decentralized infrastructure via its blockchain protocol. The primary purpose of this is to allow users of the Decentraland Community to exchange virtual and real-world products.
Players of Decentraland’s browser-based game can purchase digital assets and exchange them for physical goods and services through the retail space. What’s more, the creation of the virtual mall will allow some of the world’s best-known brands to sell their products in the virtual retail space. A great example can be attributed to buying sneakers as a non-fungible token (NFT) and exchanging the NFT for a physical representation of the purchased sneaker. Through Decentraland, Boson hopes to attract more users.
This means that in the long term, thousands of products can be purchased with MANA on Decentraland. This would add up to the 1,497 transaction counts MANA has been involved on 5th of July worth $3.36 million. With liquidity flowing through the platform, MANA could become the biggest winner and bring more returns to traders and investors.
Crypto News Land believes MANA is a good investment in the short term. According to the experts, MANA could soar to $3 in early 2022 if it continues to see huge adoption. As per the forecast of Crypto News Land, investing in Decentraland can be considered a good investment.
Check Out: Is It Worth Investing in Decentraland?
Should I Invest in Decentraland (MANA)?
Why Should I Consider Investing In Decentraland (MANA)? Well, Decentraland is one of the most innovative technologies that can change how we go about ownership of lands, real estate, and arts as a whole. To be more precise, Decentralized has introduced non-fungible tokens (NFTs) that are allowing buyers and sellers to negotiate the sale of lands and arts without any intermediaries such as real estate agents and auction houses.
One of the primary reasons why you should invest in MANA is that Decentraland has made the necessary steps to find an answer to the scalability problems associated with the use of the Ethereum Blockchain. On 1st April 2021, Decentraland launched a decentralized application portal with Polygon to escape the high gas fees on Ethereum. Polygon is a layer 2 scaling solution that addresses gas fees by scaling DAPPS including Decentraland relatively faster to avoid network congestion.
Because of the launch, users of MANA can move their token from Ethereum to Polygon and vice versa. The primary purpose of this new partnership is to enable users of Decentraland to buy, sell, and trade wearables for their avatars without transaction fees on Polygon.
Like cryptocurrency exchange, OKEx, and decentralized lending protocol Aave that has also been deployed on Polygon, there is an increase in the user base of the protocols. Decentraland will get extensive mileage through its deployment on Polygon. With thousands of DAPPS online, not scaling relatively faster allows competitors such as Flow, Axie Infinity, and Enjin Coin to own a substantial part of the market. In the long term, MANA will be involved in the processing of more transactions due to a fast network. This will impact positively on its price through increased trading volume and culminate in a relatively greater market capitalization.
Coinskid believes you should consider investing in MANA due to its potential in a market that comprises more than 10,000 coins. According to the experts, MANA could command an average trading price of $7.50, the minimum price of $6.92, and the maximum price of $8.09. The experts at Coinskid have given you a good reason to consider investing in MANA because as per their predictions, Decentraland can bring gains of 178.01% in long term.
Should I Invest in Bitcoin or Decentraland?
You can only invest in the two cryptocurrencies if you conduct independent research that covers fundamental and technical analysis. Bitcoin (BTC) continues to enjoy its first-mover advantage as the first blockchain-based cryptocurrency. This is the primary reason why it suffers heavy plunges and recovers within short periods.
Aside from this, Bitcoin functions as a transactional currency that is integrated across millions of merchants globally. Additionally, Bitcoin is also considered as a store of value and this is the primary reason why its last upgrade in 2017 led to the creation of Bitcoin Cash (BCH) to serve as a transactional currency and maintain BTC as digital gold.
What’s more, Bitcoin is trying hard to take advantage of its status as the largest digital asset globally by triggering smart contracts. This will be done through its latest upgrade called TAPROOT. This will see BTC compete with the likes of Ethereum, Cardano, Binance Smart Chain, EOSIO, Internet Computer, and the Tron Network for a share of the decentralized finance market.
On the other hand, Decentraland enjoys a keen advantage as one of the most popular NFT Marketplaces. Although there are hundreds of virtual 3D platforms, most of them have not enjoyed the same level of success as Decentraland.
MANA continues to be among the cryptocurrencies that have brought its holders huge returns in 2021. Moreover, MANA has seen institutional investment from the largest digital asset management firm Grayscale and its trading at a relatively lower price that could see more liquidity poured into the digital asset in a short period. Also, Decentraland continues to profit from the boom in decentralized finance in 2021 and the patronage of its platform by high-profile corporations.
This continues to see the virtual reality platform command a fair share of the NFT space and this could help its price in the short and long term.
So, should I Invest in MANA or Bitcoin? With the fundamental analysis provided, the two cryptocurrencies should be considered for investment due to their long-term potential in the market. With that said, basing an investment argument on just fundamental analysis will not serve as a great guide to you as an investor. You should adopt a technical analysis-backed forecast that can give you an extensive insight into the potential price patterns of the two cryptocurrencies.
In the short term, according to Wallet Investor, Bitcoin (BTC) could command an average trading price of $70,039.40, the minimum price of $63,281, and the maximum price of $77,228.60 by the end of 2022. At $42,555.62, buying BITCOIN could return at least 81.48%. According to the same experts, Decentraland (MANA) could trade for a coin at an average trading price of $5.411, the minimum price of $4.882, and the maximum price of $5.915 by the year’s end of 2022. At $2.91, buying MANA could return at least 103.26%.
In the long term, according to Wallet Investor, Bitcoin (BTC) could command the maximum price of $211,454 on by December 2026. At $42,555.62, buying BITCOIN could return at least 396.89%. According to the same experts, Decentraland (MANA) could trade for the maximum price of $18.063 by December 2026. At $2.91, buying MANA could return at 520.72%.
As per the estimates by the experts at Wallet Investor, it can therefore be concluded that investing in Decentraland (MANA) in the short and long term will bring you more returns than Bitcoin (BTC).
Will Decentraland Ever Overtake Bitcoin / Will Decentraland Get as High as Bitcoin?
Decentraland could get as high as Bitcoin (BTC) and could surpass it someday in the highly volatile world of cryptocurrencies. With that said, BTC currently trades for a coin at more than $42,000 while MANA has a price of more than $2.91. Currently, both cryptocurrencies can be considered as a store of value. Despite the new high lows experienced in May and June, Bitcoin and Decentraland continue to have a favorable reserve risk.
Reserve Risk analysis is whereby long-term holders continue to keep their assets for the foreseeable future due to increased confidence. This categorizes the two assets as attractive investments. As per the forecasts of Gov Capital, the highest price Bitcoin could trade for in 2026 is $260,242.7. Gov.Capital estimates MANA could command a trading price of $15.9827 in 2026.
So, will Decentraland (MANA) get as high as Bitcoin (BTC), and will MANA ever overtake Bitcoin? With the price forecast of the experts at Gov. Capital under perspective, MANA will not get as high as BTC and will not overtake the parent crypto in the short and long term.
How Much Could Decentraland Be Worth?
There are several price forecasts made about the future price patterns of Decentraland (MANA). To give you an understanding of the price MANA could trade for in the future, let us consider estimates that will find answers to questions such as, MANA price predictions 2022, MANA price predictions 2023, MANA price predictions 2025, and MANA price predictions 2030.
According to Coinskid, MANA could have an average price of $5.63, a minimum price of $4.81, and the maximum price of $6.46 by the close of 2023.
According to Wallet Investor, Decentraland (MANA) could command an average trading price of $7.884, the lowest possible price of $7.039, and the best possible price of $8.750 by the year’s end of 2023. MANA could test an average price of $10.345, the minimum price of $8.960, and the maximum price of $11.747 by the close of 2024.
According to analyst Elena R at CoinPedia, forecasts MANA to reach $10 based on developments and partnerships in the next four years (2026).
According to Trading Beasts, the experts foresee Decentraland trading for a coin at an average price of $3.69, the minimum price of $3.14, and the maximum price of $4.62 by the close of 2023. Trading Beasts believe on 31st December 2024, MANA could have a trading price of $4.40, a minimum price of $3.74, and the maximum price of $5.50.
According to Digital Coin Price, in the short term, the novel token powering the virtual reality platform could have trading prices of $3.81 (2022), $5.06 (2023), and $3.8 (2024). In the long term, the native asset of Decentraland could command trading prices of $6.09 by the close of 2025, $6.23 (2026), $7.04 (2027), and $10.74 by the end of 2028.
What Will Decentraland (MANA) Be Worth in 2022?
Experts at Coinskid believe Decentraland could reach an average price of $2.19, the lowest possible price of $1.90, and the best possible price of $2.48 by the end of 2022.
Experts at Wallet Investor think Decentraland could reach an average price of $5.411, the least possible price of $4.882, and the best possible price of $5.915 by the end of 2022.
Analyst Elena R at CoinPedia expects MANA to command a price of $5.75 by the year’s end of 2022.
Experts at Trading Beasts forecast Decentraland (MANA) to have an average price of $3.69, the lowest possible price of $ 3.14, and the best possible price of $4.62 by the end of 2022.
How Much Is Decentraland (MANA) Worth In 2025?
Coinskid estimates Decentraland (MANA) could have an average price of $16.43, the lowest possible price of $14.50, and the best possible price of $18.37 by the end of 2025.
Wallet Investor projects Decentraland (MANA) could trade for a coin at an average price of $12.81, the minimum price of $10.80, and the maximum price of $14.85 by the end of 2025.
What Will Decentraland Be Worth in 2030?
According to CoinPriceForecast, MANA could trade at $281.79 in the first half of 2030 and end the year trading at $241.23.
Will Decentraland (MANA) Go Down in 2022?
Decentraland (MANA) may not go down in 2022. As a crypto trading asset, it is impossible to achieve a perfect trading history. This is because the prices of digital assets are affected by news around Bitcoin and major news around the creation of central bank digital currencies (CBDCs) by the various governments globally. What’s more, a crackdown on cryptocurrency exchanges can also lead to a drop in the price of assets.
As a result, there would be unavoidable dips in the price of MANA towards the end of the year. Generally, Decentraland can now scale relatively faster than it used to due to its association with Polygon, it is growing daily due to the increased interest in decentralized finance applications and extensive usage of MANA as the primary token that oversees the economy of the virtual environment.
Also, the price forecasts of Wallet Investor, Coinskid, Crypto News Land, Trading Beasts, CoinPedia, Coinquora, and Digital Coin Price puts MANA in a position where its price will be relatively higher than the $2.60 to $3.97 range it has been trading for. To put it simply, MANA will not go down in 2022.
Don't Miss: Decentraland (MANA) Price Predictions
Who Should Include Decentraland (MANA) In Their Portfolios?
MANA has returned more than 600% for investors. This has seen many people research about its issuing authority Decentraland and the kind of traders who could make enormous gains from the digital asset. Day Traders, Value Investors, Cryptocurrency Traders, Decentralized Finance Enthusiasts, and Non-Fungible Token (NFT) fans can profit from having MANA in their portfolio of investments.
- DAY TRADERS: With a volatility rate of 1.19 for 1 month, MANA is highly unpredictable. Since day traders take advantage of intraday changes in the price of cryptocurrencies, having a volatile asset like MANA can bring short-term gains to its sharp rise and sharp price declines. MANA could brighten the portfolio of all day traders who embark on independent research that points out its possibilities in the market.
- VALUE INVESTORS: According to Investopedia, “Value Investors believe the market overreacts to good and bad news, resulting in stock price movements that do not correspond to a company’s long-term fundamentals." This means that a value investor can include MANA in their portfolio because it is a digital asset that appears underpriced when the fundamental analysis is taken into consideration. With a price of $0.55, buying MANA wouldn’t do much to deplete the savings accounts of even a small-time investor.
- CRYPTOCURRENCY TRADERS: There are more than 16,000 coins in the market. MANA is not among the most popular because it’s a DeFi coin and not mainstream cryptocurrencies that are known for their usage in paying for goods and services daily. An expert in cryptocurrencies could do a thorough assessment of MANAs performance from its inception to the present day. Accessing investor interest through trading volume could go a long way to inform a cryptocurrency trader about the future valuation of the asset. MANA could bring great returns to cryptocurrency traders.
- DECENTRALIZED FINANCE ENTHUSIASTS: In a study by Binance Research, it was revealed that DeFi is picking up speed. 66% of respondents pointed out that they have been using DAPPS. In DappRadar’s Dapp Industry Report of the 2nd quarter of 2021, it was pointed out that, “Despite the crash in crypto prices, users continue to be involved within the industry, especially in DeFi and NFTs.” With billions of dollars in total value locked (TVL) in decentralized finance coupled with the millions of users of DAPPS; MANA could be the missing digital asset on the portfolio of a DeFi enthusiast. With increased usage through the building of real estate on the Decentraland platform, MANA could rise and bring gains to holders.
- NON-FUNGIBLE TOKEN FANS: The NFT Market is worth more than $6 billion and Decentraland plays a major role in terms of traders, volume recorded, and sales. Having MANA as a tradable token can brighten up the portfolio of NFT fans.
But is 2022 too late to buy Decentraland (MANA)?
2022 is not too late to buy Decentraland (MANA). This is because the project is relatively new. Although it was created in 2017, it took three years of painstaking work before the founders of the project released it to the general public in February 2020. In the months leading up to the end of the year, decentralized finance and non-fungible tokens will continue to see new users through the creation of new unique active wallets.
Aside from that, MANA is one of the few cryptocurrencies that was able to strive to survive the May and June lows that saw several altcoins head for extinction. What’s more, there are no price forecasts by the experts that foresee MANA going down in 2022. For what is worth, experts believe that MANA could reach the least possible price of $5 by the end of 2022. This is higher than its current trading price. To put it simply, you can still buy MANA in 2022.
Is Investing in Decentraland (MANA) Risky?
YES, Investing in MANA as all cryptocurrencies comes with risk. This is because cryptocurrencies fall under a highly volatile asset class.
They could all spike in price on Monday to reach new all-time highs and by Friday, plummet to new high lows. When you visit social media platforms, Reddit, Facebook, and Twitter, you would be surprised as to the number of people who claim they have made enormous gains from MANA and other digital assets.
What goes unreported are the millions of people who have lost substantial amounts of money. This is the primary reason why Trading Education continues to advise people on the need to invest in MANA with an amount that can be written off as bad debt.
In a story on the website of the British Broadcasting Corporation (BBC), one cryptocurrency investor pointed out that he lost millions through cryptocurrency addiction. The total sum of money lost was in the range of £1 million. You also employ good old but still useful diversification. Buy MANA, other digital assets, and spread them around with less-volatile stocks such as metals, commodities, bonds, and stocks. This would help balance any losses suffered in one particular asset class.
Could Decentraland (MANA) Be A Bad Investment?
YES! Investing in Decentraland (MANA) could be a bad investment. Most oftentimes, people who invest in the creation of their businesses fail. This means that investments whether physical or digital could become bad due to forces in the market that can be beyond your control.
To the investors who had confidence in MANA from the onset of 2021, huge gains have been recorded. With a current return of more than 600%, investing $100 in January could have resulted in at least $700 in April. 2021 But as soon as the all-time high was reached, the fear of missing out (FOMO) set in.
This saw a huge influx of unsophisticated investors (those who do not embark on research but mere speculation) pour more liquidity into the asset.
Within a short period, the bubble burst. Investors that purchased MANA after its all-time high currently see the asset trade for a coin at less than 63.76% of the $1.63 price recorded on 17th April 2021. It would be impossible for you to time the cryptocurrency market. If you do not have time in the market for your assets to recover, investing in MANA and other cryptocurrencies, in general, could be one of the worst decisions you have ever taken.
Read Also: Pros and Cons of Investing in Decentraland
Does Decentraland (MANA) Have a Future?
YES! Decentraland has a future. Many people do not understand the concept of decentralized finance and non-fungible tokens. Once they are educated on the subject and they can understand what they can achieve with Decentraland in terms of creating a business and monetizing it, the virtual reality platform will continue to see increased usage.
Since MANA as always is used in buying LANDS and facilitating payments on the Decentraland ecosystem, it would continue to see more liquidity. With the acquisition of virtual lands by major players in the creative space, more artists, musicians, and business people could flood Decentraland with the idea of adding innovative content to the platform. This will see the continuation of the platform and the continuous trading of its native asset, MANA on cryptocurrency exchanges globally.
How safe is Decentraland (MANA)?
Decentraland is very safe. This is because it is secured by a massive decentralized network of miners. They work in tandem with thousands of nodes to ensure the MANA tokens and the whole Ethereum ecosystem is protected against attacks.
How Legit is Decentraland (MANA)?
Decentraland is extremely legit and so is its native asset. Sotheby’s is one of the most respected auction houses in the world. For Sotheby’s to bypass several virtual reality platforms online and employ the innovative process of Decentraland says a lot about its acceptance by key corporations in the art and gallery sector.
On the legitimacy of its native asset, MANA, the crypto trading asset can be found on Binance, Huobi Global, OKEx, Coinbase Pro, and eToro. These exchanges conduct extensive assessments of digital assets before listing them. If you doubt the legitimacy of the asset or the platform that could help you with the security and safety of storing your MANA tokens, you can trust eToro to do just that.
Alternatives to Decentraland
Despite the possibilities of MANA, other mainstream cryptocurrencies, DeFi coins, and novel tokens of other virtual reality platforms can bring forth high earnings in the short and long term. You can supplement your investments in MANA with mainstream cryptocurrencies such as Litecoin (LTC), Binance Coin (BNB), Ether (ETH), Cardano (ADA), Shiba Inu (SHIB), ZCash (ZEC), Tronix (TRX), EOSIO (EOS) Dogecoin (DOGE), Dash (DASH), Bitcoin Cash (BCH), and Bitcoin (BTC). DeFi coins such as Compound (COMP), Uniswap (UNI), and Aave (AAVE) can also be included in your portfolio. What’s more, novel tokens of direct competitors to Decentraland such as Axie Infinity (AXS), Chiliz (CHZ), and Enjin Coin (ENJ) could bring massive returns to you.
Conclusion: Is Decentraland (MANA) a Good Investment?
Investing in Decentraland (MANA) is worth considering. For many, investing in Decentraland has proven to be one of the best decisions they ever made.
On 1st January 2021, the price of one MANA was $0.08 and on 17th April 2021, it was worth $1.63. This meant that MANA increased by 1937.5% and in simple terms 19.375 times in the space of 4 months. Suppose an investor purchased 10,000 MANA at $800 and sold his or her holdings at the right time, the investment could have risen to $193,750 in a short period. A profit of $193,050 could have befallen that investor.
Always adhere to the fact that most investments will come down to risks and rewards. Is the reward from investing in MANA bigger than the consequences of the risks? MANA is not among the most popular mainstream cryptocurrencies and alternate coins but it continues to see above-average investor interest through trading volume. Its market value also continues to make strides from a small-cap to a medium-cap asset.
So, is Decentraland (MANA) a good investment? Right now, Decentraland is considered a good investment. And, if you are looking to invest in the cryptocurrency, the year 2021 where the digital asset seems to increase in value although relatively cheaper, may be the right time to do so.
Since you now know that no investment is free, if you are curious about investing in Decentraland, ensure you know everything about it. This will help you make good decisions on the cryptocurrency.
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.
Can Decentraland Reach $5 / Will Decentraland (MANA) Reach $5?
YES, MANA could reach $5 according to the experts at Coin Quora, Coinskid, CoinPedia, and Wallet Investor.