News Report
June 29, 2022

MPost Markets: The price of bitcoin falls below the $20k mark

Metaverse Markets' Review

Cryptocurrencies are experiencing significant price drops. Glassnode is not wrong, referring to the current times as “a bear of historic proportions,” especially considering its “extensive duration” and how many people have been affected. Having experienced a 5.15% decrease over the last 24 hours, the global crypto market cap is now $896.18B.

The price of bitcoin is falling, again. At the time of writing, the coin has fallen below the $20k mark and is now trading at $19,950.22. While it’s not a huge price decrease overall, it shows we’re still nowhere near being out of the bear market.

Although this is an uncommon occurrence, we are now seeing spot prices trading under the realized price, which means traders are losing money when using their bitcoins bought at a higher price. “Spot prices are currently trading at an 11.3% discount to the realized price, signifying that the average market participant is now underwater on their position,” Glassnode writes.

Source: Glassnode.

Ethereum’s ether has fared even worse over the last day. With the price 8.96% lower than yesterday, the coin is now trading at $1,112.11. Binance’s BNB has seen a very similar price decrease of 8.37%, while Cardano’s ADA has performed slightly better, losing just 4.81% of its yesterday price. XRP is down by 6.35%, while Solana SOL by 11.68%.

Major metaverse coins have seen significant price decreases as well. With the trading volume plummeting by 13.03% and the market cap falling by 3.38%, NFT-related cryptocurrencies have definitely seen better days.

Flow, while still remaining the top metaverse cryptocurrency, has lost 11.24% of its value over the last 24 hours. The price of Decentraland’s MANA is down by 9.57%, ApeCoin by 12.90%, Tezos by 9.66%, and The Sandbox’s SAND by 11.43%. However, there have been some price jumps, including the price of Yield Guild Games YGG rising by 9.14% and Immutable X IMX up by 3.64%.

The price of the Metaverse Index MVI has similarly suffered a drop. Down by 8.79%, the token is now trading at $39.

Read related posts:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

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.

More articles
Karolina Gaszcz
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.

Hot Stories
Join Our Newsletter.
Latest News

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Bitcoin’s Current Correction Level Still Below Average, Says Rekt Capital Crypto Analyst
Markets News Report Technology
Bitcoin’s Current Correction Level Still Below Average, Says Rekt Capital Crypto Analyst
June 24, 2024
Core Developers Open Source SRC Protocol’s Indexer Code, Including SRC-20, SRC-721, And SRC-101 Token Standards
News Report Software Technology
Core Developers Open Source SRC Protocol’s Indexer Code, Including SRC-20, SRC-721, And SRC-101 Token Standards
June 24, 2024
SnowBridge Debuts Its Cross-Chain Bridge, Enhancing Interoperability Within Polkadot Ecosystem
News Report Technology
SnowBridge Debuts Its Cross-Chain Bridge, Enhancing Interoperability Within Polkadot Ecosystem
June 24, 2024
Crypto Exchange Blocktrade Acquired By Fred Kaasik Investor Group To Drive Strategic Growth
Business Markets News Report Technology
Crypto Exchange Blocktrade Acquired By Fred Kaasik Investor Group To Drive Strategic Growth
June 24, 2024