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Bitcoin prices continue to plummet, now trading at $21,218.09, the price has fallen by 5.32% since yesterday. Bitcoin is edging dangerously close to the $20k mark, with today’s lowest price of $20,178.38. Prices that low haven’t been seen since mid-2020, and it’s unclear whether the price drop is going to halt anytime soon.
Ethereum’s ether is fairing even worse, now trading at $1,114.91. Today, ether is down by 7.59%, and the seven-day price fall has reached 37.81%.
Binance’s BNB is similarly in the red, down by 4.80%, while the prices of Cardano’s ADA and XRP have slid by 4.13% and 1.39%, respectively. Among the worst-fairing cryptocurrencies today, there are Nexo with a price fall of 10.76%, Waves down by 10.49%, and Monero XMR down by 9.27%. In fact, NEXO has seen troubles over the last three days, with a price drop of 40%. It is rumored that the sudden price drop may be linked to the NEXO’s exposure to Three Arrows Capital (3AC) which may be facing insolvency. However, NEXO denies any links to 3AC.
The global crypto market cap is $902.42B and has experienced a 4.37% fall in price over the last 24 hours. Similarly, the market cap of cryptocurrencies used for NFTs has decreased by 5.25%, with trading volume dropping by more than a third.
Most metaverse coins have also experienced some price falls. Decentraland’s MANA is down by 3.53%, Theta Network by 2.70%, The Sandbox’s SAND by 5.61%, and ApeCoin APE by 6.36%. Meanwhile, Metaverse Index MVI is down by 10.5%, understandable considering the recent price drops.
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