News inside the crypto market: prices, analysis, performance and latest news on SpongeBob (SPONGE), Decentraland (MANA) and Amp (AMP) coins below.
Crypto analysis of SpongeBob (SPONGE), Decentraland (MANA) and Amp (AMP)
It is worth mentioning that SpongeBob (SPONGE) is the native crypto in ERC-20 format launched on the DEX Uniswap on 4 May 2023.
Decentraland (MANA), on the other hand, is a blockchain and metaverse platform that allows users to purchase virtual land and participate in a unique virtual community.
Amp, finally, is an Ethereum token that aims to place collateral on payments made in the Flexa network, making them instant and secure.
Is the crypto Sponge ready for another price rally?
Sponge, the crypto that combines memes and AI technology, is leveraging its iconic namesake to make a splash in the cryptocurrency market.
Mission successful so far, as its Twitter account has surpassed 40,000 followers, demonstrating the community’s solid support for the token.
It is precisely this community support that has helped SPONGE reach a market capitalization of more than $13.4 million, according to CoinMarketCap, despite the project only being in its infancy.
In the past week, the SPONGE token has been listed on seven CEXs, including Gate.io, LBank, and MEXC. These listings have attracted the attention of several ‘crypto influencers,’ such as moonpie666, who recently tweeted a meme about Sponge for his more than 20,000 followers:
Currently, SPONGE is trading for $0.00054, with the price retreating in recent days.
However, there is a growing belief among investors that the coin may be preparing for another price rally, given the traction it is now experiencing on social media.
Specifically, DEXTools reports that over $1.8 million SPONGE were traded in the last day on Uniswap alone.
Moreover, along with a purchase order worth $91,000, it appears that the token still has exceptional support, a factor that will no doubt play a decisive role in its future growth.
The MANA token bullish thanks to Apple’s foray into the metaverse
After nearly a month of decline, the price of Decentraland (MANA) has risen again in the last seven trading days. Not surprisingly, on-chain data show that the accumulation frenzy by large investors has been key.
Moreover, one wonders if Apple‘s recent foray into the metaverse might not lead to a more bullish MANA price forecast.
As we know, Apple made the long-awaited move into the metaverse by listing an Axie Infinity game on the App Store.
Logically, prominent GameFi tokens such as AXS, MANA, and SAND all jumped when the markets reacted to the news. Hence, with more than 1.8 billion active Apple devices worldwide, blockchain-native games could now penetrate a much wider market.
Reason why on-chain data reveal that Decentraland whales are already accumulating MANA to anticipate potential gains.
In fact, the graph shows that Dencetraland whales, which hold 10 to 100 million MANA, added 21 million tokens between 11 and 17 May.
The 21 million new coins added are worth about $10 million at current market value. Moreover, this last week’s accumulation frenzy is even more remarkable when considering the fact that whales began May with a frenzied sell-off
In conclusion, if Apple goes to list blockchain plays, whales and other strategic retail investors will likely increase buying pressure. And this could eventually validate Decentraland’s bullish price forecast.
Focus on the AMP crypto price: comparison with Sponge and MANA
The price of Amp (AMP) is $0.00300355 today, with a 24-hour trading volume of $3,279,683. This means a price increase of 0.54% in the last 24 hours, but a price decrease of -4.81%% in the last 7 days.
With a circulating supply of 56 Billion AMP, Amp is valued with a market cap of $169,273,727.
As a reminder, the most popular exchange to buy and trade Amp is BtcTurk PRO, where the most active currency pair AMP/TRY has a trading volume of $818,142.
In addition, the daily volume of Amp (AMP) is $3,279,683 USD in the last 24 hours, which represents a -0.50% decrease from a day ago and a recent drop in market activity.
Amp’s market capitalization is $169,273,727 and is ranked No. 196 on CoinGecko at the moment. Anyway, with a -4.80% price decrease over the past 7 days, Amp is underperforming the global cryptocurrency market, which is up 2.10%.
In addition, the crypto is also underperforming against similar Ethereum ecosystem currencies that are up 12.70%. However, the community continues to be on the rise, as more than 69% of users are optimistic about Amp (AMP).