Metaverse coins have seen astounding success in the crypto markets since the beginning of 2023, with the majority of tokens experiencing remarkable volatility. Aggregated data from CoinMarketCap shows the top five metaverse tokens by market capitalization to be ApeCoin APE, Internet Computer ICP, Stacks STX, Decentraland MANA, and Theta Network THETA. Ranked by market caps, ApeCoin is the top-performing metaverse token at the moment, with its value standing at $1.51 billion. Likewise, ICP, STX, MANA, and THETA are ranked 2nd, 3rd, 4th, and 5th respectively with their market caps ranging between $1.50 billion and $1.02 billion.

ApeCoin is an ERC-20 token on the Ethereum blockchain and is used to empower and reward members of the APE community. ICP, the 2nd-ranked token, works on the World Computer, highlighting a revolutionary project geared towards the development of various online systems and services. Similarly, STX is the 42nd-ranked token overall, working on a Bitcoin blockchain-based layer 2 protocol to enable smart contract development and decentralized application functionality. Decentraland is the 4th most-capitalized token and is a VR platform operational on Ethereum that allows users to monetize their content. Lastly, the 5th-ranked metaverse token is the Theta Network, a video streaming blockchain that enables peer-to-peer sharing of networking resources and bandwidth.



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