Tokens in Decentraland, The Sandbox, Enjin Coin, and Axie Infinity see a 6% fall
Tokens have taken a hit lately with big coins such as Ethereum and Bitcoin not being immune from the deep loss either. With the current correction in prices of tokens, metaverse tokens have not been able to stay away from the drops in price either
Enjin Coin (ENJ) which is the native token of the Enjin platform and earned in-game achievements has seen the worst loss at 7.33% over the last 24 hours. The coin is currently trading at $0.50
BAYC-backed governance token ApeCoin (APE) fell 6.4% in the last 24 hours as well currently trading at $4.59. APE can be used to purchase plots of Otherside metaverse virtual land. The initial frenzy of the Otherside launch had the APE token hit a high of $39.40 meaning that recent losses have culminated in a total loss of 88% in value.
Widespread set metaverse projects Decentraland and The Sandbox are also victims of the current downtrend in token value. The Sandbox’s SAND has dropped 5.5% currently trading at $1.12 while Decentraland’s MANA has seen a dip at 5.17% trading at $.84, this brings the total loss of value of the tokens to 86% and 85% respectively.
Finally, Axie Infinity’s AXS, the native token of the play-to-earn game, has seen a drop of 4.4%, sitting at $14.09.