Decentraland Market Update: MANA/USD settles after enjoying bullish ride upon Samsung collaboration

Samsung has recently added support for blockchain-based platform Decentraland to its wallet app. According to a recent announcement, the smartphone giant has involved the Decentraland project as its largest game and Non-Fungible Token (NFT) project. 

Decentraland is an Ethereum-powered platform that allows users to monetize and build a virtual world using NFTs or cryptocurrency collectibles. The Decentraland Marketplace has already been added to the Samsung Blockchain Wallet and is available on Samsung smartphones. Users will now be able to trade Decentraland NFTs in addition to storing or trading LAND tokens. These tokens represent 10x10-meter portions of virtual real estate, making it easy for users to trade land parcels with other Decentraland inhabitants, according to their website. 

Samsung rolled out its cryptocurrency wallet back in March 2019 for the Galaxy S10 smartphone. Since then, the firm has expanded support for digital assets and blockchain projects across multiple smartphone devices. It also added dapps in its Blockchain Keystore.

MANA/USD daily chart

Decentraland has two native tokens, LAND, the non-fungible collectible token, and MANA, the network utility token. MANA/USD is currently facing slight bearish correction after two straight bullish days. MANA/USD has dropped from $0.04626 to $0.04528 and has gone back inside the 20-day Bollinger Band. This shows that the price is no longer overvalued. To further corroborate this, the RSI has also dropped from the overvalued zone. The SMA 20 has crossed over the SMA 50 to chart the bullish cross pattern.