As cryptocurrencies across the board once again take a downturn, bitcoin is exploring the downside below $8,000.
The sharp recovery in prices on CoinDesk’s Bitcoin Price Index (BPI) from the Friday’s low of $7,695 ran into offers at a high of $9,471.46 at 21:59 UTC on Saturday. In the subsequent hours, the bears pushed the cryptocurrency back to $8,000.
Bitcoin dropped further to a low of $7,876.69 at 02:30 UTC today and was last seen at $7,995. The world’s largest cryptocurrency by market capitalization has depreciated by 12 percent in the last 24 hours, according to data source CoinMarketCap.
A similar price action has been seen across the market. Bitcoin cash (BCH), Ripple (XRP) are down 14 percent each, while ethereum’s ether (ETH) token has dropped 13 percent in the last 24 hours.
The biggest loser in the top 100 cryptos by market cap is the ethereum-based token called dent (in 75th place). The company aims to liberate mobile data by enabling users to sell or donate excess data via the ethereum blockchain.
The price of dent has depreciated by 26 percent in the last 24 hours, according to CoinMarketCap. It is worth noting that dent was leading the cryptomarket recovery over the weekend. As of writing, it is changing hands at $0.023647, having clocked a high of $0.033194 over the weekend.
Currently, the total market capitalization of all currencies taken together stands at $397 billion – up 14 percent from Friday’s low of $348 billion.
Trimming green shoots image via Shutterstock
Pokemon Go Creator to Build Metaverse Valued at $9B After Raising $300M
The virtual world keeps getting better and interesting day by day. Different ventures and investments are ready to explore...
GameFi: The Versatility of Project SEED NFTs development
One of the pillars of play-to-earn gaming structure is the acquisition of NFTs. These items/tokens are what are usually acquired...
Top 3 Centralized Exchange with most Metaverse & GameFi Tokens
In an article about Metaverse on CryptoTvPlus , it described Metaverse as a product of multiple innovations and technologies through...
PLAYERMON: Battle, Colonize Worlds on the Planet Gameplay.
Talking about a play-to-Earn universe where you can explore around, battle and have fun within the planets, then PLAYERMON...
Top Blockchain Metaverse Launchpads
One major innovative and revolutionary wave that is fast spreading across the world is the Metaverse. Most recently, certain big...