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2021 Decentraland (MANA) Price Forecast

Decentraland (MANA) Price

July 24, 2021 | 

1373 Views | 

JOHN K MWANIKI | 

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Decentraland was officially launched in 2017. Before the launch, virtual land parcels were as low as $20. In 2020, an NFT boom was experienced, and real estate prices in Decentralized were soaring, going over $100,000 from $20.

The platform was significantly boosted by the NFT boom, as daily active users increased significantly. The idea behind creating the platform was to give people control of the internet and influence its direction. The platform, powered by Ethereum, was designed to allow users to build, purchase and monetize virtual reality applications.

For instance, users are able to purchase virtual land within the platform and get control and ownership of the environment. That includes even the applications they create in this environment. The platform is divided into a capped number of parcels known as LAND, which can be purchased with an ERC20 token, MANA.

How many tokens are in circulation?

The maximum supply of MANA is capped at 2,644,403,343. The initial distribution of the token was strategic. 40% of the tokens were sold in the first sale. 20% of the initial distribution went to partners and the community to facilitate interaction with the platform.

20% was also given to the founding team, and Decentraland retained the remaining 20%. The current circulating supply of the token is 1,370,172,956.

Decentraland (MANA) 2021 price forecast

Decentraland (MANA) price forecasts are based on its performance in the past 30 days. The current price of the token is $0.555. The price forecasts are informed solely by technical analysis. The performance of the token has, over the past, been characterized by an upward trend.

For instance, in March 2021, it had reached an all-time high of $1.19. In the same month, the token also reached a trading volume of $886 million. The crypto market is generally moving sideways. Will this affect the price forecasts for MANA?

By the end of the last week of July, the price is expected to have gone as high as $0.613. The month will, however, end at $0.58, according to experts. At the beginning of August, the token's price is expected to reach an average of $0.59, with the maximum price going as high as $0.679.

Can the Decentraland price hit $1? Yes, it is possible. Judging from the existing trend, by the end of August, the price might reach $0.7; it is therefore very possible that by the end of 2021, the token will rise to $1. 

Experts do not expect Decentraland's price to fall in 2021. Decentraland will also not crash but also will not overtake bitcoin soon. From technical analysis, the token is expected to have positive movement. Judging from the previous performance and the predictions, MANA has been on a bullish cycle for over a year, which is very encouraging.

Decentraland (MANA) market status 

To determine whether MANA is a viable investment opportunity, an overview of the token's market status will be critical. We already have insights into the current price of the token and its performance throughout 2021. 

The token is currently ranking 67 on CoinMarketCap. The current market cap of the token is $933,861,472, and the fully diluted market cap standing at $1,209,949,512. The average trading volume of the token in 24 hours is $97,656,804, which is a good sign and speaks volumes of the activity of the coin. The market dominance is 0.07%, which is not bad considering the token was just recently launched. 

Many users have a positive outlook on the token, which means its adoption will increase.

Is Decentraland (MANA) a good investment to make in 2021?

Is MANA a good investment option in 2021? Yes, it is. However, it is essential to remember that it is volatile, just like any other tokens there are in the market.

1. High market capitalization

One of the signs that Decentraland would make a good investment is its high market capitalization. The token has a market cap of $1.2 billion and falls under the mid-cap. While mid-cap investments are less popular and riskier than large-cap investments, they benefit from high growth potential.

More so, the token can withstand adverse effects that will hit the market.

2. Number of parcels is capped

Any capped token comes with the benefit of growth. The number of Decentraland tokens is capped, which will create scarcity at some point. What does this mean? As the community grows, the price of the tokens will consequently increase, and investors will reap handsomely.

3. High liquidity

The one benefit of liquid assets is that you will have cash available when you need it. This is something you will enjoy as a Decentraland investor. Even if the price of a cryptocurrency has a steady increase, there is a catch. Are there users or people who are willing to buy?

Decentraland is a community of traders that are willing to buy and sell their assets. The network is liquid, and you will be able to convert your assets into cash at any given time. Remember that the token has an average trading volume of $97 million in 24 hours.

This is a reasonably liquid market with active buyers and sellers, and where you can easily convert your tokens to cash. 

4. Committed developers

The stability of a blockchain is only as good as the focus and commitment of the developers. It is worth noting that most platforms in the cryptocurrency markets collapse due to fraud. The team of developers behind a blockchain determines whether it will survive or collapse a few years or even months after the launch.

The blockchain developers are committed and work around the clock to onboard as many users as possible and expand the community. Through their skills and experience, they are constantly improving the platform to ensure its stability.

Decentraland (MANA) Price Forecast and future

Decentraland price forecasts show that the token will increase steadily in months and years to come. The market cap, trading volume, and market dominance show great promise. The token's future is bright, and it is a good time for people to invest. The community is growing and is supported by experienced developers.

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