Decentraland Outperforms Axie Infinity in VR Gaming Investments
The Essentials in Brief
In the world of virtual reality and gaming, Decentraland (MANA) and Axie Infinity (AXS) are two of the leading projects that have attracted a lot of attention in recent years. However, a recent investigation has shown that MANA is significantly ahead of AXS in terms of development activity, suggesting that it may enjoy stronger community support. But what does this mean for investors and followers of these projects?
Development Activity: A Key Indicator
Development activity is a crucial indicator of a project’s vitality and long-term potential. Higher development activity usually means that the project is actively introducing new features, solving issues, and overall less likely to be a scam. According to Santiment, Decentraland’s 30-day development activity was an impressive 168.33, compared to just 19 for Axie Infinity. This significant difference highlights the commitment and momentum behind MANA.
Price Action and Trading Volume
Although the price performance of MANA and AXS has been similar in recent months, a look at trading volume and other metrics shows that MANA consistently has a higher trading volume than AXS. This could be another indication that investor and user interest and confidence are stronger with Decentraland.
Investor Sentiment and Profitability
Investor sentiment is another crucial factor that can influence a project’s future prospects. The data shows that confidence in MANA is being strengthened, which is reflected, among other things, in the rising 90-day average coin age metric since the end of November. In contrast, the average coin age of AXS has been falling since the beginning of March. In addition, AXS’s MVRV ratio suggests that the asset could be slightly undervalued. Despite similar price developments, the on-chain metrics show that MANA and Decentraland currently have the upper hand.
Our Assessment
Decentraland’s superior development activity, combined with a higher trading volume and more positive investor sentiment, suggests that MANA currently enjoys stronger community support. For investors interested in virtual worlds and gaming projects, Decentraland may be a more attractive option than Axie Infinity. However, it is important to monitor further developments and market conditions, as dynamics in the fast-paced world of cryptocurrencies can change quickly.
Sources: Santiment, AMBCrypto
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