Mana Coin: A Smart Investment Decision?

MANA is the native token of Decentraland, a virtual reality platform based on the Ethereum blockchain. It is used to purchase in-game goods, services, and land within the platform. Decentraland is one of the biggest metaverses in existence and has seen a surge in popularity and price since Facebook rebranded to Meta. MANA has been one of the most active cryptocurrencies, achieving an all-time high of $5.90 on November 25, 2021. With the growing interest in metaverse tokens, investors in MANA received a 100.9% return on investment (ROI) in the past year. But is MANA a good investment?

Mana coin's price predictions for 2022-2030

Decentraland's MANA coin has been one of the most active cryptocurrencies in the market, achieving an all-time high of $5.90 on 25 November 2021. It is a virtual reality platform based on the Ethereum blockchain, which allows users to purchase, build on, and monetise their virtual land.

MANA is an ERC-20 token that must be burnt to acquire non-fungible ERC-721 LAND tokens. These tokens are unique digital assets that represent plots of land in the game.

• MANA is expected to reach $5.598 by the end of 2022.
• The price of MANA is predicted to reach $30 by the end of 2023.
• If MANA holds the support level around 200-MA, the long-term moving average of 200 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $50, making it not plummet but play consistently.
• MANA investors could expect many partnerships and integrations around 2025. Moreover, this might boost the price of MANA in the crypto market, and it is expected to reach around $100.
• MANA's price could race up to $150 by 2026.
• MANA investors could expect many partnerships and integrations around 2027. Moreover, this might boost the price of MANA in the crypto market, and it is expected to reach around $300.
• In 2028, the price of MANA is anticipated to reach a minimum of $3.56, with a maximum of $4.38 and an average price of $3.97.
• By 2029, MANA's price is predicted to reach a minimum of $4.17, with the potential to hit a maximum of $5.25 and an average of $4.71.
• In 2030, the MANA coin price is predicted to touch its lowest price at $5.15, hitting a high of $6.17 and an average price of $5.66.

Mana's performance in 2021

MANA is the ERC-20 token that powers Decentraland, one of the oldest experimental game ecosystems combining blockchain and virtual reality. Decentraland is a virtual reality platform based on the Ethereum blockchain that allows users to create, experience, and monetize content and applications.

In 2021, MANA reached an all-time high of $5.90 on November 25. The first few months of the year were a positive time for cryptocurrency, and with the market booming, Decentraland responded well, reaching periodic highs of $1.55 on April 28 and 29. However, after that, the market cooled, and MANA slumped to $0.58 at the end of June.

August 2021 saw things turn around, as NFTs and metaverses became a hot topic in the world of cryptocurrency. MANA responded in kind, going on a bull run which culminated in a high of $1.08 on September 5 and 6. After a slump and a recovery, MANA climbed to an intraday high of $1.48 on October 30, 2021. It continued its stratospheric rise, peaking at a high of $4.69 before closing the month at $2.89.

November 2021 was another productive month for Decentraland, with it reaching an all-time high of $5.90 on November 25. However, in December, the market slumped, and MANA closed the year at $3.27, a year-on-year rise of more than 4,000%.

Overall, 2021 was a good year for crypto in general and MANA in particular. The crypto market is incredibly volatile, and it is difficult to predict its direction. MANA is a good investment in 2022, but crypto traders need to be cautious as cryptocurrencies are extremely volatile.

Mana's market status

Decentraland (MANA) is a virtual reality platform based on the Ethereum blockchain. It is one of the most active cryptocurrencies in the crypto world. MANA is an ERC-20 token that has to be burnt to acquire non-fungible ERC-721 LAND tokens. MANA tokens can also be used to pay for wearables, avatars, names, and more on the Decentraland marketplace.

MANA was officially launched in 2017. Before the launch, virtual land parcels were as low as $20. In 2020, an NFT boom was experienced, and real estate prices in Decentraland soared, going over $100,000 from $20. The platform was significantly boosted by the NFT boom, as daily active users increased significantly.

The maximum supply of MANA is capped at 2,644,403,343. The current circulating supply of the token is 1,370,172,956. The initial distribution of the token was strategic: 40% of the tokens were sold in the first sale; 20% went to partners and the community; 20% was given to the founding team; and mana coin retained the remaining 20%.

The current market cap of the token is $933,861,472, and the fully diluted market cap stands at $1,209,949,512. The average trading volume of the token in 24 hours is $97,656,804, which is a good sign and speaks to the activity of the coin. The market dominance is 0.07%, which is notable considering the token was recently launched.

The price of MANA has increased by 5.67% in the last 24 hours. It is currently trading at $0.875 with a 24-hour volume of $262,028,942. MANA holds 32nd place on CoinMarketCap. The top cryptocurrency exchanges for MANA are Binance, OKEx, Upbit, FTX, Gate.io, Bithumb, Bitfinex, Kraken, Bittrex, and CoinTiger Exchange.

MANA is a good investment in 2022. However, crypto traders need to be cautious when trading in cryptocurrencies, as they are extremely volatile.

Pros and cons of investing in Mana

Pros

• MANA is an ERC-20 token that powers one of the oldest experimental game ecosystems combining blockchain and virtual reality, Decentraland.
• Decentraland is a virtual reality platform based on the Ethereum blockchain. It allows users to create, experience, and monetize content and applications.
• MANA can be used to acquire non-fungible ERC-721 LAND tokens, which represent plots of land in the game.
• The platform also utilizes Non-fungible tokens (NFTs), which have been a major selling point as users can buy and sell virtual real estate.
• Decentraland is free and easy to start playing, and it is completely free to play.
• MANA has a high market capitalization, indicating that it is a mid-cap investment with high growth potential and the ability to withstand adverse market effects.
• The number of MANA tokens is capped, which can lead to scarcity and increased token prices as the community grows.
• The MANA platform has committed and experienced developers who are constantly working to improve the platform and expand the community.
• MANA has a relatively large market capitalization of about $800 million and a circulating supply of 1.86 billion tokens.
• MANA reached an all-time high of $5.90 on November 25, 2021, and investors received a return on investment (ROI) of 100.9% in the past year due to the high interest in metaverse tokens.
• MANA can be easily traded on many exchanges, such as Binance, Crypto.com, Coinbase, eToro, and Voyager.

Cons

• MANA is an extremely risky and volatile investment, like most small altcoins. Its value can fluctuate significantly, and investors must be aware of the risks.
• MANA has high buy-in costs, and investing in land or accessories within the game can be expensive.
• The success of MANA heavily depends on further updates to the game and its ability to continue attracting more users.
• MANA is not directly related to Bitcoin, and it may not have the same level of mainstream adoption or hype as other cryptocurrencies.

How to buy Mana tokens

MANA is the native cryptocurrency of Decentraland, a virtual reality platform based on the Ethereum blockchain. It allows users to create, experience, and monetise content and applications.

Step 1: Open an online account

Before investing in Decentraland, you will need to sign up for an account with a trading platform that offers it. Some of the best exchanges are Coinbase, eToro, Voyager, Binance, Crypto.com, and Kraken. You will also need to verify your identity with the exchange before you can start trading. This usually involves providing your address, date of birth, country of residence, phone number, and a picture of your driver's license.

Step 2: Buy a wallet (optional)

Although it is not mandatory, you may want to consider buying a wallet to store your MANA tokens. Many cryptocurrency investors, especially newcomers, store their cryptos in the exchange they buy them on. However, personal wallets, either hardware or software, give you direct control over your cryptos. Hardware wallets are more secure than software wallets or exchange wallets because your wallet's information is never stored online. Ledger is a popular choice for hardware wallets, offering the Ledger Nano S and Ledger Nano X models. For software wallets, the Gemini Wallet is a top choice, available as an app for iOS and Android devices.

Step 3: Deposit cash

Once your account is verified, you can fund your account using various payment methods, depending on your location and preferences. Some platforms support instant deposits, allowing you to start trading immediately.

Step 4: Purchase MANA

After your account is funded, you can purchase MANA on the platform. Look for the desired trading pair, such as MANA/USD, and set the price you want to buy MANA at. Complete the transaction, and if you have a personal wallet, consider transferring your MANA tokens there for added security.

Step 5: Store your MANA

Once you have purchased your MANA tokens, you will need to store them securely. While you can keep them in your exchange account, it is generally recommended to use a dedicated wallet. As Decentraland is a platform built on Ethereum, MANA can be stored in any Ethereum wallet. Mobile and web wallets offer convenience, while hardware wallets are ideal for secure, long-term storage.

Frequently asked questions