My Neighbor Alice price is up 17.74% today, making it the biggest gainer on Crypto.com. With a 24 hour trading volume of $749 million and a market cap approaching $500 million, this weekend is looking good for ALICE. Let’s take a look at what My Neighbor Alice is exactly, and why ALICE price is rising.
What Is My Neighbor Alice?
My Neighbor Alice is a blockchain based multiplayer game that allows users to own virtual plots of land and build their very own islands.
ALICE tokens are the native currency on the platform. They allow users to interact with the ecosystem and purchase a variety of assets. Users can also stake their ALICE to earn staking rewards and governance points.
Why Is My Neighbor Alice Price Rising?
The most relevant announcement that is most likely responsible for the recent bullish momentum is the $80 million program aimed at expanding the metaverse surrounding My Neighbor Alice.
The program was founded by Chromia, and Mines of Dalarnia. Chromia is the team behind the blockchain on which My Neighbor Alice is running. Mines of Dalarnia is an action-adventure game that allows players to mine and combine various items.
Another big reason for ALICE’s recent bullish price hike, is due to the overall increase in the hype surrounding Metaverse and GameFi projects.
With other relatively unknown projects like Gala Games seeing incredible price hikes, reaching over $1 billion in valuation in under a year, the question remains.. Is My Neighbor Alice the next big Metaverse coin?
As the game is yet to be released, ALICE looks like a relatively long term hold. The game is scheduled to be released in Spring 2022, meaning next year we could see ALICE valuation surpass $1 billion.
A good indicator as to whether or not the market is excited about a coin is whether or not the 24 hour trading volume exceeds the project’s market cap. In this case, the 24 hour trading volume for ALICE is $749 million, while its market cap is $494 million.
There’s definitely lots of momentum left in the market to potentially push ALICE’s price to its previous all time high of $23
Disclosure: This is not trading or investment advice. Always do your own research before buying any cryptocurrency.
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