SAND, MANA, AXS Holders Suffer as Metaverse Tokens’ Prices Slump

The market intelligence platform, IntoTheBlock, recently posted that most SAND, MANA, and AXS holders are running at a loss. Negative price changes in the metaverse ecosystem are causing tokens to lose value, according to the market data platform.

IntoTheBlock shared an infographic of the three metaverse tokens mentioned in its recent tweet. In the shared screenshot, Axie Infinity’s AXS token posted a 95% loss, Sandbox’s SAND recorded a 93% loss, while Decentraland’s MANA was running at an 83% loss. These three represent some of the top metaverse tokens currently in the crypto industry.

Data from IntoTheBlock’s crypto tokens aggregation platform shows that SAND traded at $0.401, with a market cap of $782.55 million at the time of writing. It has lost 68.72% of its value in the past year and experienced a 94.63% outflow from its ecosystem, compared to a 3.16% inflow. IntoTheBlock reveals that there are only 637 daily active addresses on the Sandbox ecosystem, 76.17% of which are controlled by whales.

MANA’s price at the time of writing was $0.367, with a market cap of $695.49 million, according to data from IntoTheBlock. That price indicates a loss of 62.98% in the past year, having experienced an outflow of 83.67% compared with a 14.09% inflow.

The number of daily active addresses on Decentraland in the past year is 458, after dropping by 57.71% in the past year. Whales own 51.45% of these addresses, leaving investors with 28.36%, while retailers own 20.19%.

AXS, the native coin of the Axie Infinity ecosystem, traded at $5.75 and had a market cap of $817.53 million at the time of writing. At this price, AXS lost 67.62% in the past year, per IntoTheBlock’s data. The metaverse protocol boasted only 270 daily active addresses during this period, 94.23% of which belonged to whales. Investors own 2.26%, while the remaining 3.51% belong to retailers.