Welcome to Metaverse Market Analysis! Every Monday we bring you the latest statistics and data on the general state of the Metaverse market. This column is in collaboration with the incredible team at OneLand, a financial platform for virtual lands in the Metaverse. This week brings the OneLand Metaverse Market Analysis stats for August 14-20.
Stake your TheSandbox LAND and earn 2.89%* APY. Wager your $SAND and earn 9.55%* APY (*21.7.2023)
7-day data shows the VRE market cap for the 10 projects on OneLand up 1.84% for the week to 676,129 ETH, reflecting increases in land cap for Otherside (+0.88%), The Sandbox (+6.2 %) and Decentraland (+1.96%).
But with ETH dropping a significant 8.93% for the week to $1,685.02, the entire crypto market felt the reverberation of a Bitcoin freefall on Thursday, VRE caps in USD terms ended the week much worse for wear , with a drop of 6.67% to just $1.14 billion. The total crypto market cap ended the week down 9.67%.
Meta Rankings – VRE Market Cap (7D)As a result, major metaverse tokens $SAND (-15.4%), $MANA (-13.9%), and $APE (-20%) plummeted.
The notable exception, however, was $TOPIA, which fell just 1% when the Web3 “Minecraft” presented its updated and seemingly rightly hyped blockchain to the world.
More specifically, the $TOPIA listing on CoinGecko Wednesday saw it surge to approach ATHs.
Overall, the data showed land trade around the Metaverse picking up, with all but 2 of the 10 projects experiencing increases in sales and volumes, and those listed on the OneLand list seeing their highest total trading volume in 6 weeks.
Voxels turned out to be the star, with volume and sales figures rising by 412% and 264% respectively. Meanwhile, a Premium LAND went on sale for 29.99 ETH at The Sandbox, the best sale in over 3 months.
Meta Rankings – VRE Trading Volume (7D)But things become clearer when we peek at Otherside, where 7-day volume reached its highest in 6 weeks (+61.1%), due to a slew of suspicious 18-20 ETH trades on Monday – from the same ‘Died!
Meanwhile, Otherdeeds’ land capitalization made its first weekly move upwards in 3 months.
Otherside started the week with a slew of suspicious selling of 18-20 ETH Otherdeeds.For an explanation of our data calculations, see docs.oneland.world/. For metaverse market and project data, visit oneland.world.
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