The crypto market has turned red again despite signs of a comeback early today. Most cryptocurrencies started the day on the green before turning red.
Bitcoin is the hardest hit in the current crypto plunge. The BTC price nosedived it has been struggling to get above 57K for the last one week. At the time of writing, the price of Bitcoin (BTC) was $56,281.11 after registering a drop of 1.82% in the last 24 hours and a drop of 5.47% in the last seven days.
Ethereum (ETH), which is the second-largest cryptocurrency by market cap, was able to get above the $4,200 support level to trade at $4,209.28 although it was still in the red registering 2.25% in the last 24 hours.
Earlier in the day, there were hopes that Ethereum was rising towards the $4,350 resistance level. However, the current market drop may cut down the journey before it even started especially if ETH slides back below $4,200.
Decentraland (MANA) price
As other cryptocurrencies drop MANA has maintained its bullish trend by registering 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 to maintain a bullish trend as the crypto market bleeds.
The rise of Decentraland is majorly attributed to the growing popularity of metaverse tokens around the globe.
At the time of writing, MANA was trading at $5.05 and it is projected that the price could hit $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 117% in the last seven days.
The SAND token has also maintained a bullish outlook as the majority of cryptocurrencies including BTC bleeds. At the time of writing, it was trading at $7.04.
Besides the hype around metaverse tokens, the recent SAND price hike is also being fueled by the talks of a potential Adidas partnership.