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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Disclaimer

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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