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Metaverse Users Shifting Elsewhere – Will Decentraland (MANA) Price Be In Trouble?

During the last days of July, Decentraland has witnessed a significant drop in user acquisition rate. Decentraland’s network growth had dropped by 73% from 782 to 209 new wallet addresses between the last week of July and the first week of August. Compared to the previous months, it appears that Decentraland has not attracted substantial network growth since early this month.

Despite the user’s shift to gaming platforms, Decentraland is still striving to improve its user experience. Leveraging the rapidly growing interest in artificial intelligence aiming to integrate the technology into its ecosystem.

Recently, Decentraland has introduced Virtual Reality files, that enable users to export their identities to other metaverses. By doing this, it should provide Decentraland users with interoperability in the open Metaverse.

Anticipating the swift advancement of the virtual realm due to AI’s influence, there is a possibility that MANA might surge by up to 20 times its present value. Regrettably, the recent update has not yielded any favorable momentum for the price trend of Decentraland.

As a result, MANA token might struggle to pull out of the current downtrend and it could worsen if investors continue to leave Decentraland for other gaming platforms.

But amid the growing negative price momentum, the bulls have been strategizing moves to defend the $0.35 support level. At this time of writing, MANA is trading at $0.36.

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Sophia Cruz
Financial Writer - Asian & European Desks
Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.
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