MPost Markets: Bitcoin price stagnates
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Prices of major cryptocurrencies are stagnant, but there are more significant ups in prices.
The price of bitcoin is up by 1.36%, trading at $20,598.03. Ethereum’s ether is up by 3.22%, Binance’s BNB is up by 5.91%, Cardano’s ADA by 1.16%, and XRP by 2.50%. The price of Solana SOL has seen a rise of 5.79%. However, some cryptocurrencies have experienced much larger increases. Polygon’s MATIC is up by 25.22%, THORChain’s RUNE has risen by 13.58%, and Enjin Coin ENJ is up by 12.55%.
Meanwhile, top metaverse coins are doing much better. Decentraland’s MANA has seen a rise in the price of more than 10%, while Flow is up by 8.48%. ApeCoin APE is also on the rise, up by 6.96%, while the price of Theta Network THETA is up by 4.51 and Tezos’s—4.44%. The Sandbox has seen an impressive price increase of 13.14%, but it’s SuperRare’s RARE and Unisocks SOCKS that have seen the largest improvements in price—of 29.36% and 22.94%, respectively.
With the prices of NFT-related cryptocurrencies, the Metaverse Index price is also seeing an improvement. Up by 9.07%, MVI is now trading at $38.87.
Both Deutsche Bank and Citi see a 50% chance of recession, as Deutsche Bank AG’s chief executive officer warns the public, Bloomberg wrote.
“At least I would say we have 50% likelihood of a recession globally,” the Deutsche Bank CEO said. In the US and Europe, “the likelihood of a recession coming in the second half of 2023, while at the same time the interest rates go up, is obviously up versus the forecasts we had before the war [in Ukraine] broke out.”
The cryptocurrency market may not stabilize before the fear of recession subsides, meaning there still might be a long wait ahead of us before we see bitcoin prices reach the all-time highs again.
Read related posts:
- MPost Markets: cryptocurrency prices slid slightly
- MPost Markets: Cryptocurrency prices rise
- MPost Markets: Cardano’s ADA price spikes; bitcoin on the rise
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