You asked me about MANA, to give them a presentation and a brief technical analysis on its situation. Let's do it !!!
Analysis of $MANA (Decentraland)
Project Name: Decentraland
Team:
Ariel Meilich: CEO and co-founder. Former CTO of BitTorrent.
Esteban Ordano: CTO and co-founder. Former research scientist at Google.
Meryem Benouar: COO. Former Director of Operations at Ledger.
Simon de la Rouviere: Marketing Director. Former Marketing Director at Ubisoft.
Time in the market: 4 years (launched in 2020)
Other fundamental data:
Platform: Ethereum
Token type: ERC-20
Total supply: 2,190,400,000 MANA
Market capitalization: $1.30 billion (as of March 30, 2024)
About Decentraland
#Decentraland is a 3D metaverse where users can buy, build, and monetize virtual land parcels. It's one of the most popular and established metaverse projects, with an active community of users and developers. Land in Decentraland is permanently owned by the community, giving them full control over their creations. Users claim ownership of virtual land on a blockchain-based ledger of parcels. Landowners control what content is published to their portion of land, which is identified by a set of cartesian coordinates (x,y). Contents can range from static 3D scenes to interactive systems such as games.
Land is a non-fungible, transferrable, scarce digital asset stored in an Ethereum smart contract. It can be acquired by spending an ERC20 token called MANA. MANA can also be used to make in-world purchases of digital goods and services.
People are spending increasingly more time in virtual worlds, for both leisure and work. This occurs predominantly in 2D interfaces such as the web and mobile phones. But a traversable 3D world adds an immersive component as well as adjacency to other content, enabling physical clusters of communities.
Unlike other virtual worlds and social networks, Decentraland is not controlled by a centralized organization. There is no single agent with the power to modify the rules of the so ware, contents of land, economics of the currency, or prevent others from accessing the world.
Positive factors
Experienced team: The Decentraland team has a proven track record of success in the tech industry.
Strong community: Decentraland has an active and engaged community of users and developers.
Growing adoption: The number of active users in Decentraland has been steadily increasing.
Growth potential: The metaverse market has significant growth potential in the coming years.
A bit of technical analysis by LocademiaCripto
According to TradingView, we've got data since August 2020. Check out this screenshot where you can see how the RSI hit overbought territory when it reached its all-time high of 5.9 back in November 2021 (during the BTC bull run of 2021). But look at where we're at now, even though BTC surpassed its ATH from back then. That's because the overall market has matured; MANA isn't the only coin vying for a slice of the metaverse pie anymore. The MACD confirms a bullish signal for this year on the monthly analysis. However, I'm not so sure it's gonna hit its ATH. In my view, Decentraland needs more development, advertising, marketing... I mean, do you see MANA ads everywhere? I don't.
In the weekly timeframe, we can get a clearer picture of the resistances and where the price is struggling to find its balance. From what I can see, it's still stuck in a tricky zone. If I were considering investing at this level, I wouldn't do it until I see better signs of price recovery.
Of course, if you want a more in-depth analysis of your investment (assuming you have MANA), I need to know at what price you bought and what your maximum investment horizon is. You can reach out to me on my website for real-time assistance in making your decision.
Hope this overview helps! Let me know your thoughts in the comments!
Have a great weekend!
__
🌈 Loved what you just read? Spread the joy with a thumbs up! Your encouragement keeps me inspired to share more valuable content with you.
