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Decentraland (MANA) recovered to $3.06 over the past days, following the general market trend. MANA had a relatively limited drop to around $2.66 before its recovery.
In the short term, the crash prevented MANA from attempts to get closer to $10 and establish a higher range. MANA has still managed a significant run compared to early 2021.
MANA Price Prediction: Boost from Samsung Partnership
The Decentraland digital plot model attracted Samsung as one of the partners. The news helped MANA regain positions faster, and added to the project’s social media visibility.
Decentraland plots are one of the examples of Ethereum-based ownership, somewhat similar to .eth domain names.
MANA Price Prediction: Token Has Wide Distribution
The MANA token has been around for years, and remains one of the assets with reasonable distribution. More than 200,000 wallets hold MANA, and most big wallets belong to exchanges or staking mechanisms.
Otherwise, MANA whales are still few, making for a widely distributed token.
MANA Price Prediction: Mainstream Interest
MANA is the only play to earn tokens to be included in Grayscale’s investment products. Grayscale builds crypto-derived, exchange-traded products for major coins, and Decentraland was one of the choices to expand the portfolio.
MANA trades at a slight discount to spot crypto markets, at an equivalent of $2.90.
Grayscale carries around $55.8M in MANA assets under management, of which each share carries $29.44 in MANA tokens, or 10% of the share’s value.
MANA Price Prediction: Will Mood Improve
Moods on MANA are bearish, but not rock bottom fearful. MANA still has a low per unit price and may continue to establish its price range.
More than 57% of MANA buyers are in the money. MANA trades under conditions of extreme fear on the crypto market, set by the Bitcoin (BTC) crash. The Crypto Fear and Greed Index is still at 21 points, a signal of extreme market fear.
MANA has shown some potential to decouple from BTC and continue with the logic of the booming play to earn market.