In this guide, we will voice our own and market’s opinion on MANA future while discussing Decentraland price forecast for 2023 and beyond.
Please bear in mind that you should take this and any other prediction with a grain of salt since predicting anything is a thankless task, let alone predicting the future of a novel, highly volatile financial asset like Decentraland.
Now, let’s head into it. Before we delve deep into the Decentraland price prediction and answer questions if MANA is a good investment or not, why will MANA succeed or fail or why will Decentraland price rise or drop, let’s quickly throw a glance at what is MANA and its to date history.
What is Decentraland?
Founded by Ari Meilich and Esteban Ordano, Decentraland was initially launched in 2015 as a simple, pixelated grid that allocated pixels to users through a proof-of-work algorithm.
By 2017, the Ethereum blockchain-based software project has evolved into a full-fledged 3D virtual project, allowing users to purchase, build, and sell virtual reality applications in a shared virtual ecosystem.
With the recent development, users can develop virtual real estate, monetise, and auction it for sale. They can also engage in other activities like playing games within the scope of the virtual world.
Decentraland is the first of its kind, as well as one of the few multi-purpose and multi-versatile metaverses built on the Ethereum blockchain. The platform not only integrates virtual apps but also NFTs.
MANA Drives Decentraland’s Virtual Economy
Decentraland’s currency is MANA, a native ERC-20 token with a limited supply. Every time some purchases an NFT (non-fungible token), the platform burns a percentage of its MANA supply. Non-fungible signifies something unique. For example, an artwork is non-fungible, while currency, such as Ether or MANA, is fungible.
MANA Price Prediction For The Next 90 Days
The whole crypto world is on a verge of a complete breakdown. Bitcoin has fallen 75% from its all-time high amid broader market declines caused by raging inflation and US Fed rate hikes. When add the most recent melt-downs of huge industry players (FTX, Celsius, Luna etc) into the equation, the horizont is murky and there will be more blood on the streets of the crypto town. Investors are selling risky assets and moving into more stable markets. Crypto is still perceived as a very risky play and hence the sell off. Our algo still sees a some green in 2023, especially in the second part of the year. This is reflected in our 2023 predictions. Right now, Bitcoin needs to find a bottom before we can move in the opposite direction and reverse the trend. Once Bitcoin settles in the new price range, altcoins will start to do the same - we have witnessed this scenario dozens of times in the distant and more recent history. Our price prediction model is bearish for the next 90 days with a hint of a bull market at the turn of the quarters from Q1 to Q2. We expect whales and other bigger players in the market to finish filling their bags around that time which will cause a typical and sudden crypto spike. CaptainAltcoin team created a price prediction model with a multi-faceted approach to crypto that takes into account both technical analysis and fundamental assessment of each project. Fundamentals that we evaluate are team, tokenomics, use case, community, marketing efforts, liquidity and exchange availability, hype & speculative potential and some other proprietary factors developed in our crypto lab.
Below is a tabular overview of how will MANA develop in the short-term (for the next 90 days), according to our prediction model:
Decentraland Price Prediction 2023
Our prediction model sees a temporary switch to a bear market at the beginning of 2023 before we move onto another leg up in Q3 & Q4 of 2023.
MANA Price Prediction 2025 – 2030 – 2040
Our prediction model sees MANA reaching new highs in 2025:$ 2.27
MANA price in 2030 & 2040 should be a couple of orders of magnitude higher than our 2025 prediction.
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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com