![Whale Buys $10 Million Worth of MANA as Decentraland's Price Surge Continues](https://captainaltcoin.com/wp-content/uploads/2023/11/image-184.png)
Amid the ongoing price surge for Decentraland’s MANA token, whale activity also appears to be heating up. According to analyst Ali, large MANA transactions have spiked recently, with one whale buying $10 million worth of tokens.
Decentraland is a blockchain-based virtual world where users can create avatars, build virtual structures, and monetize creations. MANA is the platform’s ERC-20 governance and utility token used for purchasing digital real estate and goods.
What you'll learn 👉
Prolonged Price Uptrend
MANA prices bottomed out around $0.27 on October 19th. Since then, the token has seen over 50% gains in the past month, currently trading around $0.44.
The reasons behind this prolonged rally are unclear, but increased user activity and virtual land sales on Decentraland likely play a role. The broader cryptocurrency market recovery has also buoyed more speculative metaverse tokens like MANA.
Whale Accumulation
![](https://captainaltcoin.com/wp-content/uploads/2023/11/image-183-1024x554.png)
With MANA prices on the rise, whales appear to be taking notice and accumulating significant quantities. According to analyst Ali, some of the largest MANA holders on record recently purchased 25 million tokens worth over $10 million.
Seeing major stakeholders like this continue building positions signals strong confidence in Decentraland’s long-term growth potential, despite the token already rallying 50% in recent weeks.
Read also:
- Ripple (XRP) Poised for More Upside, Analyst Says This Level Is the Time To Be a Buyer
- This Token Could Be One Of The Biggest Gainers in 2024 – Learn Why Everyone’s Investing in Meme Kombat (MK)
- Which Cryptos Are ‘Likely’ To Rise Due to Upbit Conference?
The combination of surging prices and increased whale accumulation points to a strongly bullish outlook for MANA in the near future. As Decentraland expands its virtual world offerings, MANA may have ample room left to appreciate further.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.