Shiba Inu (CRYPTO: SHIB) may have pushed to fresh record highs last week, but its gains pale in comparison to the stellar run of one of its peers.
Decentraland (CRYPTO: MANA) skyrocketed late this week, catalyzed by Facebook, Inc. (NASDAQ:FB)’s decision to rebrand itself as Meta, signaling a shift in the company’s focus on building the metaverse, an expansive, immersive vision of the internet.
Decentraland is a virtual reality platform that allows users to enter the virtual world and buy plots in the virtual land. It did an initial coin offering in 2017 and has two native tokes – MANA, an ERC-20 token, and LAND. Decentraland runs on the Ethereum platform.
MANA, which closed Thursday’s session at $0.7436 spiked on Friday and hit a high of $0.9225 and moved up to close at $1.3938, a gain of about 88%. The rally has extended into Saturday.
The token is currently up at over $2.5, with volume almost doubling from 68.15 million on Friday to 127.64 million.
At last check, MANA was seen adding 108.11% at $2.5402.
Related Link: How to Buy Decentraland Token (MANA)