Most of the Metaverse-related projects and NFTs have been bouncing back pretty quickly from the downturn throughout the market- and PYR has been one of the top movers for this week. This is simply a blockchain game studio, along with a marketplace for NFT that is currently in the process of developing its own VulcanVerse ecosystem. As it stands, most of the NFTs, gaming protocols, and the very dawn of the Metaverse were all majorly trending topics the previous year, and they seem to be in even better shape in the next year.
PYR Has Been Moving Pretty Fast
According to data received from TradingView and Cointelegraph Markets Pro, it has been highlighted that after touching a low of $6.59 on the 24th of January, the price of PYR went up by 119% to touch an intraday high of $14.43 on the 1st of February, which culminated in a 141% spike over a 24-hour trading volume.
There have been a couple of reasons behind this immense recovery of PYR which include the launch of the testnet of Elysium, the listing of around 100 plots of land for sale within the VulcanVerse, and the launch of a bridge between Polygon and Ethereum.
One of the reasons why PYR has been so massively successful has been due to the immense fees put on the network of Ethereum which has been quite a major thorn in the side of protocols that have been hosted on the network- something that has also led to quite a few projects migrating to a few other networks or going about launching their own solutions in order to help decrease the cost for most of its users.
Another reason by PYR has been climbing so steadily has been the limited listing of close to 100 plots of land which have been situated in the VulcanVerse.
