Speaking of Decentraland If folks are looking for strong / u | LibreCharts

Speaking of Decentraland

If folks are looking for strong / underrated projects to add to their 'watchlist', $MANA is definitely one (this doesn't mean "watch" as in 'buy'; please read)

Here are a few quick facts:

1. Decentraland is owned by the Digital Currency Group cabal (i.e., Fred Ehrsam [Paradigm + co-founder of Coinbase], Boost VC [owned by DCG], Barry Silbert [as an individual], Digital Currency Group & several other high-esteemed firms / entities peripheral to the blockchain space)

2. Grayscale recently created a trust for Decentraland. As of right now, that Trust is actively trading. In the last 24 hours, Grayscale purchased 20k+ more units of $MANA for the fund, for a total of 100k+ over the past 7 days.

What you just above seems bullish, but that's not even the full extent of how bullish it probably is.

Grayscale Inadvertently (Intentionally) Pushing Up Price of $MANA

- Currently the price per share of Grayscale's Decentraland Trust = $12.68

- If we visit Grayscale's site directly, we can see that each share is supposed to contain 9.958987036 $MANA / share

- According to CoinGecko, $MANA's current floating price = $1.38

If we do the math, 9.958987036 ($MANA per share) * $1.38 (price per $MANA) = $13.74

That's more than what Grayscale's $MANA shares are going for currently ($12.68).

In fact, the current market value for Decentraland is >8.3% greater than what the $MANA Trust is being offered at.

According to the Grayscale site, the final NAV prices for that specific Trust are, "calculated daily at 4 pm ET, based on a TradeBlock MANA Index 24-hour VWAP".

More Information

Here's the $MANA Trust fact sheet from Grayscale's website - https://grayscale.com/wp-content/uploads/sites/3/2021/04/mana-trust-fact-sheet-april-2021-1.pdf

According to them, the asset has appreciated by >300% in the two months since the Trust was initiated (Trust start date was Feb. 26th, 2021).