MPost Markets: Cryptocurrencies back in the red
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Cryptocurrency prices continue to plummet.
Bitcoin price has slipped by nearly another thousand within the last 24 hours. The coin is now trading at $19,188.30 and is down by 4.45%.
Ethereum’s ether has declined even more. With the price falling by another 7.47%, ether is trading at $1,028.79, and it’s hanging just above the $1k mark right now.
Binance’s BNB, XRP, Cardano’s ADA, and Solana SOL have all experienced price decreases. BNB is down by 3.48%, XRP by 4.78%, ADA by 4.55%, and SOL by 6.85%. Among the largest falls we have, perhaps unsurprisingly, TerraClassicUSD USTC, the Terra stablecoin has not been stable since May. Although the coin’s price has gone up by 517.01% over the last seven days, it has fallen by 30% now and is trading at barely $0.05. Polygon’s MATIC, Zcash ZEC, and Stacks STX have all seen price decreases, with prices falling by 18.18%, 10.22%, and 10.17%, respectively.
Decentraland’s MANA has taken over Flow as the first metaverse coin by the market cap. MANA’s price is down by 6.75%, while Flow’s by 9.77%. Unfortunately, other NFT-related cryptocurrencies aren’t doing much better. ApeCoin APE is down by 0.06%, The Sandbox’s SAND is down by 5.12%, and Tezos XTZ is down by 7.73%.
The metaverse cryptocurrency price falls coincide with a large drop in trading volume, which is down by 15.61%, and the diminishing market cap, which has fallen by 6.44%. Similarly, the Metaverse Index price has dropped by 8.51%, and it’s now trading at just $35.46.
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