The adoption level for the Metaverse has continued to rise in the past couple of years. Even during the crypto winter, it wouldn’t be fair to think that the Metaverse technology is facing the same downfall.
It is quite surprising that the adoption level for Metaverse has continued to grow in recent years despite the crypto market decline.
Decentraland and Shiba Inu Witness Great Adoption
Among all the cryptocurrencies that are currently part of the Metaverse, it is Decentralan (MANA) and Shiba Inu (SHIB) which are witnessing significant adoption rates.
eToro, a major online trading service provider has made a claim in regard to the growing adoption rate for the said cryptocurrencies.
While sharing the report, eToro compared the adoption rate of MANA and SHIB with their adoption rate from a year back.
The firm has reported that they have recorded a huge adoption rate for MANA and SHIB in the past 12 months.
eToro’s Adoption Rate
It was on October 7 when eToro shared the report revealing the adoption rate for MANA and SHIB on a year-over-year basis.
So far, it is the largest year-over-year adoption rate recorded for the couple in the recently completed quarter of 2022. In the third quarter of 2022, MANA witnessed a 437% surge while SHIB witnessed a 269% surge compared to Q3 2021.
This means that the HODLers have very high hopes for these major cryptocurrencies. It is expected that these cryptocurrencies would gain huge traction in the upcoming years due to mass Metaverse technology adoption.
Other Tokens Gaining Momentum
It is worth noting that MANA and SHIB are not the only cryptocurrencies gaining momentum and adoption in the Metaverse industry.
Other cryptocurrencies such as Basic Attention Token (BAT), Polygon (MATIC), and Enjin (ENJ) have also gained huge adoptions in the past quarter.
In terms of adoption rate, BAT has recorded a 107%, so has MATIC, and ENJ has recorded a 229% surge in adoption.
Comments by Simon Peters
Simon Peters, who is the senior cryptocurrency market analyst at eToro talked about the significance of MANA.
As per Peters, the Metaverse has proven to be a key technology and segment within the cryptocurrency industry. In the Metaverse, the cryptocurrency that has made a huge difference is MANA.
It has witnessed the greatest amount of adoption and is constantly creating earning opportunities for the cryptocurrency community.
Even though the market has proven to be bearish, it has not stopped MANA from gaining momentum in terms of adoption.
It is expected that over time, the value of MANA and other cryptocurrencies may continue rising as the demand for the Metaverse continues to jump.