Cryptocurrencylistings Markets: Several cryptos show positive movement while bitcoin's price remains on a downward trend.
Bitcoin and ether continue their downward trajectory; however, the rate of decline is not as sharp as seen yesterday. Despite this, a few cryptocurrencies are starting to bounce back after the significant drops witnessed over the past few days.
Currently, bitcoin is trading at around $21,935.79, marking a decrease of nearly $2,000, or 7.30%, from yesterday's value. Although it did dip to $20,800 last night, it has made a slight recovery since then.
Glassnode research Market analysts are referring to the current situation as 'the darkest phase of the bear market,' indicating we are possibly entering the deepest segment of the bearish trend. Reports from Glassnode highlight that as the market hovers around the mid-$20,000 region, it is nearing a crucial on-chain metric known as the Realized Price, which reflects the average cost at which every coin was last transacted. This price, currently at $23,430, is often only seen during the later stages of bear markets.
As for Ethereum, ether is trading at $1,175.70, registering a 2.90% dip since yesterday. Binance's BNB has decreased by 0.45%. In contrast, Cardano's Ada has risen by 10.10%, XRP by 0.40%, and Solana's SOL has gained 7.97%. Among the cryptocurrencies showing the most significant gains over the last 24 hours are Helium (HNT), surging by 25.63%, Theta Network by 17.69%, IO TeX by 17.57%, and Fantom with a rise of 16.58%.
When it comes to Metaverse cryptocurrencies, the landscape is quite varied; while some tokens are dropping in value, others are attempting to recover their past standings. Flow has dipped 0.41%, and Tezos is down 6.24%. On a brighter note, Decentraland's MANA is back on the rise, up by 6.55%, accompanied by The Sandbox's SAND up 6.49%, ApeCoin (APE) increasing by 1.88%, and Axie Infinity (AXS) gaining 10.15%. LUKSO (LYXe) has impressively surged by 21.27%, while inSure DeFi's SURE has gone up by 15.88%, and Origin Protocol's OGN by 14.26%.
The Metaverse Index has seen an uptick of 5.90%, now trading at $36.77, after having dropped to a low of $30.68 just within the last 24 hours.
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