Avalanche (AVAX) Surges as Metaverse Crypto Tokens Dominate February 2022 – Decentraland, Axie Infinity and EverGrow

Avalanche (AVAX) Surges as Metaverse Crypto Tokens Dominate February 2022 – Decentraland, Axie Infinity and EverGrow

Avalanche is growing as the Metaverse crypto-token in Feb 2022 to drive profit

Avalanche has been the biggest crypto gainer among the top 20 cryptos in February 2022. It's one of few major cryptos to see any price gains over the last week, registering a 5% increase in price. Meanwhile, Bitcoin and Ethereum are down 1-2% and Cardano and Solana are down a major 10%. 

Meanwhile, metaverse tokens are soaring. Tokens like Decentraland's MANA and Axie Infinity's AXS have jumped in price over the last few days, while Ever-Grow Coin has announced exciting new developments that will make crypto and the metaverse much more accessible in 2022.

Let's take a deeper dive into what makes these tokens so promising for crypto investors in the coming year.

Ever-Grow Coin (EGC) 

Ever-Grow Coin announced back in January it was 100% joining the metaverse in 2022. Metaverse is one of the buzzwords this year that could give certain crypto tokens an advantage should they align themselves with this technology. EGC has already been posting popular videos of its new crypto and fiat-integrated social media platform Crator, but more projects are due to be rolled out in Q1 and Q2 of 2022.

These include an NFT marketplace as well as the new concept of NFT lending. This will be the first-ever decentralised marketplace for easing liquidity in FT DeFi (decentralised finance). NFT owners can also borrow against their NFTs as collateral for fair interest rates, without selling up. This will allow for passive income generation from NFTs, rather than just holding them in your wallet.

Two online games with crypto and NFT rewards are also undergoing development as Ever-Grow Coin aims to break a few records in the metaverse space in 2022. Currently trading at $0.0000005744 many investors are buying up EGC in anticipation of a price spike soon.

Decentraland (MANA)

Decentraland has been one of the biggest crypto gainers in the past week – jumping 12% just in the last few days. The Decentraland project launched in 2017 but took off the Q3 of last year. The project now has a market cap of over $5 billion and is ranked #29 according to CoinMarketCap.

Decentraland is a virtual reality platform powered by the Ethereum blockchain. It allows users to buy up plots of land they can later develop and monetise. The project works using two tokens: MANA and LAND. MANA is an ERC-20 token that must be burned to acquire non. fungible ERC-721 LAND tokens. MANA tokens can also buy users avatars, wearables, and more on the Decentraland marketplace. 

Avalanche (AVAX)

Avalanche has been one of the few top 20 cryptos to see growth over the past seven days. The AVAX token has seen a price increase of just over 5% in the past week, gaining to a price of $92. The current price is up from a low of $56 seen back in January when all cryptos suffered the effects of a bear market. Despite other top 20 cryptos losing value in mid-February 2022, Avalanche is the only one still going strong. 

Avalanche was launched by a team including Cornell University professors and Ph.D. students. It's a layer one blockchain for decentralised applications (DApps) and rivals Ethereum to become the most popular blockchain for smart contracts. It has a processing speed for up to 6,5000 transactions per second – compared to Ethereum's 15.

Axie Infinity (AXS)

Axie Infinity saw a sharp price spike of 20% over the last few days. It's fallen slightly with the AXS token now trading at $61 as of February 17, 2022. But it nevertheless became one of the top crypto gainers this month as metaverse-related tokens blossomed. The project launched in late 2020 at a price nearing $0.15 before hitting an all-time high of $160 in November last year.

Axie Infinity is a blockchain-based battling game that's partly owned by its players (among its founders are former competitive gamer Aleksander Larsen). Inspired by Pokemon, Axie Infinity allows players to collect, breed, trade, raise and battle their token-based creatures called Axies. There are more than 500 different body parts available that come in either common, rare, ultra-rare, or legendary status. Each Axie is an NFT.

Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.

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