After another 24 volatile hours in which BTC rose from $ 56,000 to over $ 58,000, the cryptocurrency once again stalled around $ 57,500. Most larger-cap altcoins are slightly in the red, while gaming tokens, such as MANA and SAND, have produced significant gains.
Bitcoin fails at $ 58,000
It was just a few days ago, over the weekend, when the price of the main cryptocurrency swung to $ 60,000, but to no avail.
The subsequent rejection drove it south hard. In a few hours, BTC saw itself trading below $56,000 for the second time in less than a week. This came after several highly volatile moves.
The bulls tried to step up and pushed bitcoin higher, which peaked with a daily high of $ 58,400 (on Bitstamp) recorded yesterday.
However, BTC failed to stand above that level and has lost roughly one grand since then. It trades around $57,500 now, and its market capitalization is down below $1.1 trillion once again.
Metaverse tokens increase: meme coins decrease
CryptoPotato reported yesterday on the rapidly changing trends in the cryptocurrency space. Memecoins, such as Dogecoin and Shiba Inu, were the biggest and most engaging tokens in recent months. Now, however, they are down in terms of price and user demand.
In the past 24 hours, DOGE has lost 4% of value and is close to breaking below $0.2, while SHIB is beneath $0.00004. Moreover, the latter is more than 50% down since its peak less than a month ago.
In contrast, a new craze seems to emerge – the Metaverse coins. As previously reported, reps, such as Decentraland and the Sandbox, have skyrocketed in recent times, with new all-time highs being recorded frequently. MANA has increased 25% in the past 24 hours, while SAND has increased 14%.
From the larger-cap alts, Binance Coin has increased by roughly 4% to above $610. Avalanche and CRO have also marked minor gains.
In contrast, Ethereum, Cardano, Ripple, Polkadot and Terra are in the red, while Solana has fallen 7% to just over $ 200.
