Decentraland (MANA) propelled social activity within the last few days following a massive announcement. Spanish football league’s top-tier, LaLiga, entered a strategic deal with SatadioPlus, a technological firm. The agreement will allow Laliga to show themed land plots in Vegas City.
Furthermore, Vegas City runs the top games, entertainment, and sports sectors of Decentraland, furthering LaLiga’s cause. LaLiga’s head of licensing and franchise Stephen Ibbotson stated that the agreement would allow them to tap a new and substantial audience, similar to Decentraland’s.
Rising Together
Decentraland’s NFT mentioned improved performance following the news. LunarCrush noted the upsurge within no time and tweeted about the platform’s growth. It highlighted that MANA’s social mentions skyrocketed by 89.05% within the past seven days. Meantime the social contributor metric noted a 30.3% uptick in that timeframe. Lastly, MANA’s NFT floor price hiked to 1.64 $ETH, following a 9.33% surge.
Decentral Games CEO and co-founder Miles Anthony commented on a substantial activity surge. He recently tweeted that the network witnessed several milestones. That seems a massive coup for users and the blockchain as they approach the Q4 end with impressive performance.
What for MANA?
Though Decentraland revealed the promise of the asset’s charts, MANA couldn’t reveal interest in the developments. MANA has seen a downside spiral this week, losing more than 11% within the past seven days. Coinmarketcap data shows the altcoin changed hands at $0.73 during this publication.
The plummeting prices also led to gradual declines in trader profitability. MANA’s MVRV ratio stayed below 0 within the previous month. That indicated short-term investors holding losses amid the timeframe under review.
Considering MANA’s performance, the alternative token did not appear enthusiastic about uptrends on its price charts. Nevertheless, buying momentum could ensure some investor relief for individuals holding the coin at a loss.
Meantime, the crypto market stayed downbeat today. Bitcoin remains below the $20K mark during this writing, dropping 1.13% within the previous hour to $19,842.12. The crypto space remained red as the global economy saw consistent declines amid soaring inflation. MANA will hardly prosper in such conditions. However, upcoming price actions remain essential to watch.
Stay tuned.
