Not Just Solana: Gaming Tokens Are Booming as Decentraland's MANA Pumps

By Andrew Hayward

Solana (SOL) might be this week’s biggest gainer, but gaming and metaverse tokens have also seen a steady ascent—with Decentraland’s MANA leading the charge.

MANA has posted a nearly 12% gain over the past 24 hours, according to data from CoinGecko, jumping to a current price of $0.40 per token. Overall, MANA is up 16% over the last week and a towering 47% in the past two weeks.

It’s the biggest gainer across all of the top 100 cryptocurrencies by market cap over the last day, per CoinGecko, but other gaming and metaverse tokens have seen a similar rise.

The Sandbox (SAND) is up over 6% today to a current price of $0.36, bringing its weekly rise to 9% and its 14-day climb to nearly 29%. It’s down slightly compared to Monday, when the price sat at $0.37. Those up-and-down swings are typical among gaming tokens. Like meme tokens, they tend to be highly volatile.

Other gaming gainers this week include Immutable’s IMX token, which is up about 4% today to a price of $0.67, marking a nearly 30% rise over the past two weeks. And Axie Infinity’s AXS token has jumped nearly 3% over the past day to a price of $5.44, now up nearly 32% in two weeks. Furthermore, the RON token of Axie’s Ronin Network is up 26% over the last two weeks to a current price of nearly $0.51.

It’s unclear what’s driving MANA’s chart-leading jump, but the broader cryptocurrency market has shown signs of life in recent weeks.

That upswing was initially driven by speculation over the potential approval of a Bitcoin spot exchange-traded fund (ETF). Where Bitcoin's price goes, the rest of the market tends to follow. But Solana has since emerged as the biggest winner in recent days.

Bitcoin has posted a nearly 23% price gain over the last 14 days to a current price of $34,915. As Bitcoin goes, so too does the rest of the market—the broader market is up nearly 19% over the same span, per CoinGecko. And Solana is up 33% this week alone to a price of $42.64, marking a sizable 76% pop across the last two weeks.

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