MPost Markets: Cryptocurrencies back in the red

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Metaverse Markets' Review

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%.

Bitcoin chart. Source: CoinGecko.

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.

MVI seven-day chart. Source: CoinGecko.

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Any data, text, or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results.

Karolina Gaszcz

Karolina is a writer and journalist with a background in literary studies. She loves exciting tech solutions and art, and NFTs are often a perfect amalgamation of the two. Outside of work, she’s a plant mom, a vintage fashion enthusiast, and a gamer.

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