Decentraland’s native token, MANA, extended its late-September rally on Thursday, surging more than 11% in the past 24 hours to reach $0.32.
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The move caps a 17% gain since September 25, with trading volumes jumping 102% to $33.8 million. At the same time, social media attention around the virtual-world project nearly doubled, signaling a renewed interest from investors and the community. So what is driving the rally?
Technical Breakout and Market Momentum
MANA’s latest upswing has brought the token to a pivotal level. The price now sits directly on its 200-day moving average at $0.32, which acts as a resistance line. A decisive close above this threshold could spark a medium-term bullish signal after months of weakness.
Source: TradingView
Momentum indicators suggest a cautiously bullish picture. The relative strength index (RSI) stands in the mid-50s, suggesting room for further upside without yet entering overbought territory.
Still, MANA is down more than 30% year-to-date, and failure to hold the $0.32 level could see the token slip back into its prolonged consolidation range.
DAO Vote: Cost-Cutting and Governance Reform
Beyond the charts, Decentraland’s community is also facing a governance crossroads. The Decentraland DAO is currently voting on whether to dissolve its DAO Committee and transfer execution duties to a new 3-of-5 multisig wallet.
The proposed wallet would require multiple independent approvals, drawing signers from the DAO Council, Security Advisory Board, the Decentraland Foundation, and a security or community representative.
The proposal follows the suspension of the DAO’s grants program, which left the committee with little work but a $7,200 monthly cost. Supporters argue that eliminating the committee will reduce unnecessary spending while maintaining operational security. As of October 2, 63% of voters support the change, while 37% oppose it. Voting is set to close on October 10.
Crypto Rebound Adds Fuel
MANA’s rally is also unfolding against the backdrop of a mild rebound across digital assets. On Thursday morning, the total cryptocurrency market cap rose more than 3% to $3.99 trillion.
The Fear & Greed Index remains neutral at 42, while the Altcoin Season Index reads 59 out of 100, below peak exuberance. The average crypto RSI stands at 56.6, indicating a neutral but slightly positive trend.
Why This Matters
For now, all eyes remain on the Decentraland (MANA) $0.32 level. A strong weekly close above this line would mark a significant technical shift and potentially a new bullish rally.
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People Also Ask:
Decentraland is a blockchain-based virtual world where users can buy, sell, and develop virtual land, assets, and experiences. It operates on the Ethereum blockchain.
MANA is the native cryptocurrency of Decentraland. It’s used to purchase virtual land, items, and services within the Decentraland ecosystem and can also be traded on crypto exchanges.
MANA’s price reflects the demand for virtual assets and engagement within Decentraland. Higher MANA prices can indicate growing interest in the platform.
The DAO vote aims to dissolve the DAO Committee and move tasks to a multisig wallet. This could reduce unnecessary spending and improve security, which may be positive for MANA’s long-term value.
No. While Decentraland is often associated with gaming and metaverse experiences, MANA has broader utility, including governance, virtual real estate, and NFTs within the platform.
