Investors are Still Buying Into the Metaverse: Glassnode Data Shows it’s Not Dead

The Metaverse crypto space isn’t as hot as it was back in 2021. Many people, companies included, were hyped because they thought virtual worlds were where things were heading in the future. That isn’t the case now

According to CryptoSlate, the Metaverse market has dropped from $23.54 billion to just $4.9 billion. That’s a huge loss. Big investors seem to be looking elsewhere, moving toward AI, DeFi, and Real World Assets (RWA).

So, does this imply that the Metaverse is dead? According to Glassnode, the Cost Basis Distribution (CBD) metric indicates that there are still plenty of people who have not sold their Metaverse tokens, and some are even buying more. 

Even though the prices have gone down, tokens like the Sandbox (SAND) continue to get bought. That means some investors still believe in these projects and see them as good long-term bets.

According to Glassnode’s report,  SAND holders aren’t backing down despite price swings. Another Metaverse token, MANA, is seeing strong buying activity around $0.60, meaning people are taking advantage of lower prices.