The crypto market has turned red again this morning despite signs of a comeback. Most cryptocurrencies started the day on the positive side before posting losses again.
Bitcoin is the strongest blow of the current crypto slump. The BTC price crashed, it struggled to get above 57,000 in the last week. At the time of writing, the price of Bitcoin (BTC) stood at $ 56,281.11, having recorded a decrease of 1.82% in the last 24 hours and a decrease of 5.47% in the last seven days.
Ethereum (ETH), the second largest cryptocurrency by market capitalization, was able to exceed the support mark of $ 4,200 and was quoted at $ 4,209.28, although it was still in the red with 2.25% over the past 24 hours.
Earlier in the day, there were hopes that Ethereum would rise towards the resistance level of $ 4,350. However, the current market decline may shorten the journey before it has even begun, especially if ETH falls below $4,200 again.
Decentraland (MANA) Price
While other cryptocurrencies are falling, MANA has maintained its upward trend, registering an increase of 23,21% in the last 24 hours.
MANA has risen by 59.65% in the last 7 days to become one of the few altcoins that maintains a bullish trend while the crypto market is bleeding.
The rise of Decentraland is mainly attributed to the growing popularity of Metaverse tokens around the world.
At the time of writing, MANA was trading at $5.05 and it is predicted that the price could reach $7 very soon if the coin maintains the current trend.
The Sandbox (SAND) price
The sandbox (SAND) is another Metaverse token that is on the rise. The token has risen by over 33% in the last 24 hours and by 117% in the last seven days.
The SAND token has also maintained a bullish outlook, while the majority of cryptocurrencies, including BTC, are suffering heavy losses. At the time of writing, SAND was trading at $7.04.
In addition to the hype surrounding Metaverse tokens, the recent SAND price increase is also fueled by the talks about a possible Adidas partnership.