What's Up With Decentraland (MANA) Cryptocurrency Today?
Decentraland (CRYPTO: MANA) soared 23.55% to $0.81 over 24 hours as the buzz surrounding "TO THE MOON," the worlds first virtual and decentralized music festival, intensified. What Happened: MANA has shot up 37.31% over a seven-day trailing period. The cryptocurrency rose 26.97% and 25.59% against Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) respectively. See Also: How To Buy Decentraland Tokens (MANA)  The festival, a collaboration between non-fungible token or NFT marketplace KnownOrigin, Bear NFT, and Illumino NFT collective will be hosted on KnownOrigins virtual space in Decentraland. MetaVerse Music Festival  Live DJ Sets, dancing & kick ass visuals! Come hang out with us! Join us 11 July @decentraland https://t.co/jYobQ6GCZP  KnownOrigin.io (@KnownOrigin_io) July 4, 2021  The event is slated to begin July 11 and will feature live performances by Autograf, Fred Thurst, Ookay, Snbrn, and Win and Woo. Why It Matters: MANA trading volumes shot up 240.85% to $688.9 million as of press time, as per CoinMarketCap. The cryptocurrency has appreciated 935.14% since the year began. It is noteworthy that Decentraland is a virtual reality universe, which touts itself as the first fully decentralized world.  An exclusive collection of NFTs has been announced and will be available through the festival, as per a Decentraland announcement. Decentraland is using Ethereum (CRYPTO: ETH) technology to host the event. This year the worlds second-largest cryptocurrency by market cap has gained traction thanks to the buzz surrounding Decentralized Finance or DeFi and NFTs among other factors. See Also: Beeple Says NFT Art Is 'Absolutely' In A Bubble After Making $69M In Such A Sale  Goldman Sachs said this week that ETH currently looks like the cryptocurrency with the highest real use potential. The investment bank said in a note that ETH could shoot past Bitcoin as the dominant store of value among cryptocurrencies. Read Next: Ethereum Co-Founder Vitalik Buterin Tells Dogecoin Bull Gary 'I Love The Doge Every Day'