MPost Markets: Prices are down, Terra plummets again

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Bitcoin prices remain stable, without any major dips. At the time of writing, the coin is selling at $29,026.70 and has experienced a 0.5% fall in the last 24 hours.

Ethereum’s Ether, on the other hand, is still not doing better. While today’s drop is not as severe as yesterday’s, the price is still steadily falling down. Having fallen another 4.05%, the ether price is now $1,771.84, and the overall seven-day drop in price is 12.85%.

Ethereum’s Ether 24-hour price change. Source: CoinGecko.

The current fall in prices has seen its results in futures liquidations. Yesterday, CoinDesk reported, ether-tracked futures accounted for half of all crypto futures liquidations, with ether-tracked futures losses nearly doubling those of bitcoin and amounting to approximately $236 million. 

Symbol Liquidations. Source: CoinGlass.

The trend seems to be stabilizing now, however, ether futures continue selling. According to CoinGlass data, the last 24 hours saw over 50% more ether futures sold than bitcoin-tracked ones; in the $157.05million to $102.57 million ratio.

It’s looking grim for Terra UST as well. Terra prices have plummeted again, by more than 60%, and the coin is now selling at $0.036. Although the last few days seemed less turbulent for the stablecoin, there’s no way to know whether it’ll be able to reach its past price.

Metaverse Index (MVI) is not doing great; the price slid 4.90% and is now at $49.42. While not desired, this fall is not unexpected considering how the metaverse cryptocurrencies have been behaving recently. All major cryptocurrencies used in the NFT sphere are experiencing a drop. Flow prices fell by 4.84%, ApeCoin APE 8.42%, Decentraland’s MANA 5.29%, and Tezos 6.6%.

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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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