news 
State of the Metaverse – Are MANA, SAND, and AXS poised for revival?
Once a beacon of innovation in the cryptocurrency space, the metaverse has failed to deliver on its promises. Projects like Decentraland (MANA), The Sandbox (SAND), and Axie Infinity (AXS) have suffered severe downturns since 2024, with investor interest waning significantly. As prices continue to stagnate, a crucial question arises: Are MANA, SAND, and AXS poised for revival?
To gauge the potential of these tokens, we must examine their cost basis and on-chain activity.
Upon analyzing the charts, it becomes apparent that there are significant supply clusters at higher price levels, indicating accumulation. However, this phenomenon may not be a sign of renewed interest in the metaverse, but rather a mere attempt to break even by investors who purchased these tokens during the recent market downturns.
Furthermore, on-chain data does not suggest any major influx of new users. A resurgence in the metaverse space would require increased institutional investment and broader adoption of metaverse platforms – factors currently lacking.
In order for MANA, SAND, and AXS to regain momentum, several conditions must be met:
1. Higher trading volumes and greater demand for metaverse platforms: The current price action remains speculative without substantial user engagement.
2. Reduction in overhead supply: A breakout above major resistance levels could signal that long-term holders are reducing sell pressure.
3. Revived investor interest in Web3 and metaverse development: If significant companies announce renewed investments in the space, these tokens may benefit.
Presently, there is no concrete evidence to support a turnaround in the fortunes of MANA, SAND, and AXS. As a result, investors should exercise caution and monitor key resistance zones before anticipating a full-fledged metaverse resurgence.
In conclusion, while the charts hint at accumulation at lower levels, a meaningful breakout remains elusive.
Source: https://ambcrypto.com/state-of-the-metaverse-are-mana-sand-and-axs-poised-for-revival
