MANA hit an all-time excessive at $5.48 Wednesday at the same time as analysts warn that investing additional in metaverse tokens is a raffle. Metaverse tokens have seen costs zoom in double-digit percentages this month, taking them to new all-time highs.
Michaël van de Poppe, a well-known analyst says that investing in CRO, MANA, or SAND tokens is synonymous with “gambling.” He can be the CEO and founding father of crypto session agency Eight Global.
MANA hit the all-time excessive after the sale of the most important metaverse land, valued at round 618,000 MANA tokens, or $2,428,740 on the time of sale. This historic milestone set by the metaverse platform attracted the eye of assorted traders.
CRO or Crypto.com Coin has additionally adopted a bullish sample after placing a cope with AEG on renaming of Staples Center. The deal was price round $700 million.
Sandbox has risen exponentially on account of curiosity in The Sandbox Alpha, a multi-week play-to-earn occasion set to begin on Nov. 29. The Alpha Pass will give particular privileges to the house owners, permitting them to win 1,000 SAND tokens and a prized NFT assortment.
As per knowledge from CoinMarketCap, as of 12:55 a.m., MANA was down 3.84% from its all-time excessive. CRO is down 13.37% from its ATH of $0.9698 that it touched Wednesday. SAND is 0.51% under its ATH.
Michaël van de Poppe commented that “buying $SAND, $MANA or $CRO here is crazy.” The analyst, who has greater than 500,000 Twitter followers, suggested to not put money into these tokens as it’s equal to “gambling.”
“Chasing it now, that’s pure gambling. I would avoid doing that,” mentioned Poppe.
He has earlier made a number of spot-on predictions on Bitcoin, Ethereum and different cryptocurrencies. The day/swing dealer of cryptocurrencies predicted the BTC worth backside earlier than the golden cross in September. He additionally predicted Bitcoin to rise above $50,000 in August.