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What is Decentraland, and what is a MANA coin?

Decentraland is a virtual reality platform built on top of the Ethereum blockchain. The platform allows users to create an experience and monetize content. On the platform, people can also buy and sell digital real estate.

The 3D virtual reality platform also allows people to play games in the virtual world. In recent years it has evolved with the implementation of interactive apps. In-world payments have also been enabled, in addition to peer-to-peer communications between users.

Two tokens power the Decentraland platform. LAND acts as the network’s Non-fungible token that defines the owners of parcels of land on the platform. MANA, on the other hand, is the network native cryptocurrency through which transaction fees are settled.

The ERC-20 token allows users to purchase land and pay for goods and services on the 3D virtual reality platform. MANA holders can participate in the management of the Decentraland software and vote on any proposed upgrades. Owning the token gives holders the ability to vote on policy updates.

There is no limit on the total number of MANA tokens that will ever be in supply. Currently, there are about 1.8 billion MANA tokens in circulation from a total supply pool of 2.19 billion. The original supply of 2.8 billion MANA tokens has been reduced by more than 600 million tokens burned due to LAND auctions. MANA is the 33rd largest cryptocurrency with a $4.37 billion market cap.

Should I buy Decentraland coin today: MANA market sentiment

MANA token has been under pressure ever since it peaked at all-time highs of $5.89 a coin in 2021. The Decentraland token has shed more than 66% in market value. While the sell-off has coincided with the overall cryptocurrency market turning bearish, MANA has remained subdued.

Even as the broader market shows signs of bottoming out after months of sell-offs, the MANA token has continued to edge lower. A drop below the $2 a coin level leaves MANA susceptible to further price losses.

Chart showing MANAUSD sell-off

Technical indicators have also turned bearish, signaling further price losses. MANAUSD is currently trading below the 200-day moving average, affirming short sellers are in control. In addition, the Relative Strength Index has plunged below the 50 level, affirming the bearish momentum.

The prospects of the MANA token posting further losses are high as the token is currently trading in a descending channel with indicators hinting at further losses. The lack of any catalyst means MANAUSD could continue edging lower. Consequently, now may not be the best time to buy the token.

What is Decentraland MANA price prediction for a Year?

MANA tokens woes are likely to persist in the short term, with the token trading below the $2 a coin level. While cryptocurrencies can be extremely volatile, resulting in triple digital percentage gains, that’s not expected of the MANA token in 2022.

Chart showing MANA coin 2022 price prediction

Analysts at Digitalcoinprice.com expect the coin to average $2.58 a coin in 2022, representing a 29% gain from current levels. The Decentraland token is also expected to rise to highs of $2.77 before year-end.

In contrast, analysts at Walletionvestor.com expect the token to more than double in price before year-end to highs of $4.66 a coin.

What is Decentraland MANA price prediction for 2025?

MANA token should experience significant price appreciation between now and 2025. The token is expected to rise to a maximum price of $4.45 in 2025, representing a 123% gain from current levels.

Chart showing MANA coin 2025 price prediction

However, the token would still be trading at a discount, considering it reached highs of $5.89 in 2021.

What is Decentraland MANA price prediction for 2030?

MANA’s long-term outlook remains bullish, with the token expected to appreciate significantly over the next eight years. The virtual reality token is expected to appreciate by more than 300% to highs of $9.35 a coin, according to estimates of Digitalcoinprice.com. The token is also expected to average $9.13 a coin in 2030.

Chart showing MANA coin 2030 price prediction

Analysts at Walletinvestor.com, on the other hand, are overly optimistic, expecting the MANA token to appreciate by more than 600% to highs of $14.14 a coin.

Decentraland MANA FAQ

Will Decentraland coin appreciate in a year?

The prospect of the Decentraland token appreciating in value over the next year is high. The token could rally by more than 25% based on conservative estimates.

How much will Decentraland be worth in 5 years?

MANA tokens could be worth more than $5 a coin over the next five years, highly dependent on the overall cryptocurrency market turning bullish.

Where do I buy MANA Tokens?

Due to excellent liquidity, MANA tokens can be purchased, traded, and sold on various crypto exchanges, including Binance, OKEx, and Coinbase Pro.