Many types of tokens exist with varying degrees of liquidity, but a few stand out. We’ve put together a list of the top 3 metaverse tokens to watch in March 2022.
Axie Infinity (AXS)
Axie Infinity is a crypto-meeting-Pokémon that revolves around breeding, raising, and battling cute NFTs called Axies. Compared to other game apps on the Ethereum blockchain, this one has been the most popular. The utility of the AXS token in powering the game is one reason Axie Infinity makes for a good investment opportunity.
AXS currently trades at $50.59 and has a market cap of 3 billion dollars with 270,000,000 coins in supply. It ranks #43 on CoinMarketCap.
On the 1D timeframe, $AXS/USDT Formed out the Bullish Harmonic Shark pattern where the price action is currently sitting at the demand zone level. Also, it formed out the Descending Triangle Pattern.
Gala (GALA)
GALA is the ERC-20 token powering Gala Games & enables players to modify games easily independently. GALA Games gives players back control over their own in-game experience while turning developers into true partners. GALA tokens allow you to buy, sell, and trade in-game items and purchase gaming content. WalletInvestor believes that GALA is an excellent long-term investment, and its forecast may be more optimistic than PricePrediction.
GALA currently trades at $0.2299 and has a market cap of 1.6 billion dollars with 35,240,112,493 coins in supply. It ranks #60 on CoinMarketCap.
On the 1D timeframe, we can see that the price action has formed out the Bullish Harmonic bat pattern. In contrast, it has also formed out the Descending Triangle Pattern, and the price action broke out the resistance while it is currently respecting the Horizontal Support key level.
Enjin Coin (ENJ)
The Enjin cryptocurrency is a token based on the Ethereum blockchain that allows easy trading of custom, virtual items. It’s used to back the value of in-game tokens created on the Enjin platform. The ENJ token is an excellent incentive for investors as it has the potential to be used in sectors like entertainment, social media, virtual reality, and more.
ENJ currently trades at $1.42 and has a market cap of 1.2 billion dollars with 1,000,000,000 coins in supply. It ranks #72 on CoinMarketCap.
On the 1D timeframe, the price of $ENJ/USDT was skyrocketing a couple of months ago. Since then, it has been mainly trading in a downtrend. The price action has broken out the resistance trendline where the price action is currently respecting the Horizontal Support key level.
Closing Thoughts
The most important part of trading is discipline and patience. So, according to the above analysis, the coins we just spoke about might see some decent gains. Again, it’s your hard-earned money you’ll be investing, so Do Your Own Research before investing.
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