Metaverse tokens are vastly outperforming every other crypto category in the current bearish condition, up by nearly 400% year-on-year.
Leading the gains are Decentraland (MANA) up 41%, Sandbox (SAND) up 470%, Axie Infinity (AXS) up 511%, and STEPN (GMT) up 746% according to data from the May 2022 market report by Kraken Intelligence and CoinGecko. Metaverse tokens can be used to pay fees, buy land, and participate in governance.
The #NFT boom of 2021 has not only drawn mainstream attention to digital art investments, it has also popularized the crypto metaverse.
Kraken Intelligence's report takes a closer look at how the crypto metaverse will change the way we communicate: https://t.co/kjrf6Pu8yg pic.twitter.com/YHpljpBJR9
— Kraken Exchange (@krakenfx) June 7, 2022
The next highest category for year-on-year gains were exchange tokens that saw a 6% increase. All other categories saw negative price action in the same time period ranging from -13% for Bitcoin to -72% for DeFi.
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