MPost Markets: Cryptocurrencies on the rise after prices plummeted over the weekend

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Metaverse Markets' Review

Crypto winter is still upon us, but there may be some signs of a thaw.

After the price of bitcoin plummeted to just $17,700 over the weekend, the coin has regained some of its value and is back above the $20,000. While the coin is now in the green, up by 5.68% over the last 24 hours, the seven-day chart is still showing a 15.33% drop in price. Bitcoin is now $20,826.91.

Bitcoin price over the last 7 days. Source: CoinGecko.

Ethereum’s ether has also regained some of its value, up by 9.27% and trading at $1,156.32. Meanwhile, Binance’s BNB is up by 4.67%.

Many cryptocurrencies are doing much better than that, seeing an uptick in the seven-day price chart. Cardano’s ADA is up by 6.04% and has regained 10.31% over the week, XRP is up by 3.43%, Solana’s SOL by 11.71%, and Dogecoin DOGE by 4.79%. Solana’s spike in price is particularly high as the coin’s value jumped by 32.29%, nearly a third of its price, over the last seven days.

Today’s absolute winner is Synthetix SNX, which has experienced a spike of 74.41%. Other cryptocurrencies that have seen a huge upturn include STEPN GMT, up by 22.78%, Basic Attention Token BAT up by 20.31%, Aave, up by 18.63%, and Maker MKR, up by 17.78%.

NFT-related cryptocurrencies are also in the green. Decentraland’s MANA, whose market cap surpassed Flow last week, remains the first metaverse-related cryptocurrency by market cap size. It’s up by 4.47%, while Flow has experienced an uptick of 7.91%. ApeCoin APE is up by 13.58%, Theta Network THETA by 11.35%, Tezos XTZ by 8.23%, and Axie Infinity AXS by 9.69%.

With so many positive changes, it’s no surprise Metaverse Index has also regained some of its former price. It’s up by 12.32% and is now trading at $37.56.

MVI chart. Source: CoinGecko.

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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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