Quants, Decentraland, and Enjin were some of the biggest market cap assets in 2022. Despite their respective prices being down due to the bear market, coins leaving exchanges points towards a better 2023.
Quant’s price has taken a big hit in the past year, but with coins leaving exchanges it looks like this is a sign of fundamentals improving. This could be a sign that the project is being taken seriously by investors, and new coins entering the market will help Quant’s price increase in the upcoming months.
At the time of writing, Decentraland trades at around $105.98, down by 2% in the last 24 hours. Despite the bear market conditions, news of new projects in the Decentraland universe has helped to keep the price afloat. As these projects come to fruition, it could be a sign of a bullish uptrend for Decentraland over the course of 2023.
Decentraland’s price has also taken a hit, but with coins leaving exchanges this could be a sign of investors gaining confidence in the project. This could mean that Decentraland has found a niche in the market, and with new coins entering, the price could increase significantly in 2023.
MANA is trading at around $2.47 at press time, up by 2% in the last 24 hours. This could be a sign that the project has found a niche in the market and is likely to see some price appreciation in 2023. With coins leaving exchanges, the price is likely to increase as new coins enter the market. This could be a sign of bullish sentiment for MANA in the upcoming years.
Enjin’s price has been particularly volatile in the past year, and coins leaving exchanges could signal a turnaround in the coming months. With new coins entering the market, Enjin could experience a surge of interest from investors and its price could experience a significant boost.
At press time ENJ trades at $0.240, up by 3% in the last 24 hours. This could be a sign of bullish sentiment for Enjin, and if the trend continues it could lead to a price increase in 2023. As more coins are moving off of exchanges, it suggests that investors feel increasingly confident in Enjin as a worthwhile investment. This could signal immense price appreciation over the upcoming months.
Conclusion
Overall, Quant, Decentraland, and Enjin have all seen coins leaving exchanges in 2022 despite their prices being down. This could signal a possible turnaround in the coming months, with new coins entering the market and investors gaining confidence in these assets. If these projects can continue to show progress, 2023 could be a much better year for these cryptocurrencies.
