The native cryptocurrency of Decentraland, MANA, has made its way back to CoinMarketCap’s top 50 cryptos list. MANA is also included in CoinMarketCap’s trending list and is number 11 on the list.
The list ranks crypto projects according to their market cap. In the last 24 hours, MANA has made its way back to the list after dropping a couple of positions during the recent crypto market crash.
However, the coin seems to be making a bit of recovery as it now fills the 33rd position on the crypto market tracker’s list.
As a result of MANA’s price increase in the last 24 hours, its market cap now stands at around $2,315,834,285 – ranking the metaverse token just under ApeCoin (APE) at number 32 and just above Hedera (HBAR) at number 34 on the list.
The daily trading volume for MANA has also doubled and totals $1,839,875,426 at the time of writing.
Looking at the daily chart for MANA, there has been a surge in buy trade volume in the last 36 to 48 hours. However, MANA is not out of the clear yet as its price ticks just above the 8 EMA.
If MANA’s price is able to stay above the 8 EMA then we could see MANA’s short run continue. The next level that MANA will need to test is around $1.37. This is also the current level of the 20 EMA.
Another possible indication that MANA’s run will continue is if the 8 EMA crosses over the 20 EMA – signaling a bullish reversal of the trend seen in the last few weeks.