- Decentraland would host a replica of Times Square for its New Year’s Eve party.
- The Digital Currency Group has partnered with international real estate firm Jamestown to recreate the cultural experience.
- After accumulating through the recent dip, analysts have predicted a bounce in Decentraland price.
The Digital Currency Group has plans to unveil the iconic Times Square in the Decentraland metaverse through a New Year’s Eve party. Decentraland revealed that it wants to recreate the cultural site and offer users a metaverse experience.
Decentraland price begins uptrend ahead of New Year’s Eve celebration
The Digital Currency Group (DCG) and real-estate firm Jamestown have announced the recreation of Times Square in the metaverse. Decentraland’s recreation of New Year’s at Times Square would overlap with the real-life event.
Decentraland refers to it as “MetaFest 2022,” and the venue is Estate 4. The party would offer users rooftop VIP lounges, new tokenized collectibles, wearables and live broadcasts worldwide.
Decentraland refers to the venue as “One Times Square,” teasing that the location could be dismantled after the New Year’s party is over.
@SimonHayess5178, a crypto analyst and trader, sees the Decentraland price trend. The analyst has predicted a bounce in the metaverse token’s price. @SimonHayess5178 believes that the price could break resistance at $3.77 and continue the uptrend.
It's a risk but I bought the dip. I'll watch the chart very close for a hour or 2. Will sell again if looks bad.
— Simon Hayes (@Hayess5178) December 28, 2021
I bought the dip on $dot $mana $link & $bnb. Hoping for a bounce from here. https://t.co/ei9FHvzdz1
Decentraland has posted nearly 7% gains over the past week.
Based on data from crypto intelligence platform IntoTheBlock, 73% of the wallets holding Decentraland were profitable. This implies a spike in investor interest and fuels a bullish narrative for the metaverse token’s price.
FXStreet analysts have evaluated the Decentraland price trend and predicted that the metaverse token could drop 35%. The analysts have set a target of $2 for Decentraland price.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Is Altcoin Season here as Bitcoin reaches a new all-time high?
Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.
Shanghai court confirms legal recognition of crypto ownership
A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.
BTC hits an all-time high above $97,850, inches away from the $100K mark
Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.