The Mars Token price is in consolidation mode as investors evaluate the future of the coin. MRST traded at $0. 0552, where it has been since Wednesday. This price is about 81% below the highest level this month.

What is Mars Token?

The metaverse industry will experience significant growth over the next few years. Nvidia and Facebook have announced their metaverse strategies.

Mars Labs builds metaverse gaming products using the Polygon network. Polygon is the largest layer 2 network in the globe. It speeds up applications built on Ethereum. This helps lower transaction costs and improves speed.

Mars Labs is creating a game based on the theme red planet. It will allow players to interact with other members of the community, participate in activities on the planet and acquire virtual real property.

MARS token is the native token of the ecosystem, just like SAND is used for powering The Sandbox. The initial supply limit for the coin is 5 billion coins. The token will undergo burning to help reduce its supply.

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MRST market price has declined despite a number of positive news. For example, it was listed by OKX, one of the biggest crypto exchange in the world. OnePlanet also offered a competition where users could win thousands of MATIC. KLAYswap also had a giveaway in which it provided 30,000 MRST to participants.

When will the Mars Token’s price recover? It could be for several reasons. The network boasts a large fan base of thousands. Its Twitter account has gained over 96k followers. The price may rebound as it is listed on more exchanges. Finally, there will likely be momentum toward the launch of the metaverse in 2023.

Mars Token price forecast

MRST/USD Chart by TradingView

The hourly chart shows the MRST price is in a consolidation phase over the past few days. This could indicate that the MRST price is currently in a price discovery phase. It has formed a symmetrical triangular pattern, which is illustrated in black. It is also consolidating at the 25-day moving average.

Therefore, there is a likelihood that Mars Token will soon have a breakout or breakdown. In case of a bullish breakout, the coin will rise to the key resistance level at $0.60.

How to buy Mars Token

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in.

OKX is very concerned about customer security. They store most of their clients’ funds cold and have yet to hack the exchange.

The exchange has very low fees, and customers can use their crypto to secure loans.

Buy MRST with OKX today