By Franklin Smith
The past week has proven to be full of losses for the entire cryptocurrency sector. The Chinese regulatory authorities really managed to hit a huge blow to the entire cryptocurrency industry. Since the beginning of 2021, it has become quite obvious for the major cryptocurrencies that they have to experience great plunges from time to time.
Although the major cryptocurrencies have grown quite used to the high and low trends, it is a major drawback for cryptocurrencies within the metaverse. However, the metaverse tokens haven’t been used to such plunges.
Now, the metaverse industry needs to get used to such trends and the major cryptocurrencies have to buckle up more than any other cryptocurrencies within the metaverse.
Among the major cryptocurrencies within the metaverse is Decentraland (MANA) that has experienced a huge plunge in the past 7-days. The data shows that the price of MANA has plunged by 26.50% in the past 7-days. After the plunge, the price of MANA has come down to $3.63 per MANA, with $24,589,487,681 trading volume in the past 7-days.
The seven-day low MANA hit was $2.62 per MANA, and the seven-day high MANA hit was $4.93 per MANA. At present, the valuation of MANA is at $8,028,146,677, making it the 26th largest cryptocurrency by market valuation.
The other cryptocurrency within the metaverse network is Axie Infinity (AXS) that has also experienced a great plunge in its price. The data shows that the price of AXS has plunged by 24.56% in the past 7-days. After the plunge, the price of AXS has come down to $101.98 per AXS, with $3,124,442,121 trading volume in the past 7-days.
The seven-day low AXS hit was $95.64 per AXS, and the seven-day high AXS hit was $143.26 per AXS. At present, the valuation of AXS is at $6,106,495,507, making it the 28th largest cryptocurrency by market valuation.
The other cryptocurrency within the metaverse network is The Sandbox (SAND) that has also experienced a great plunge in its price. The data shows that the price of SAND has plunged by 26.63% in the past 7-days. After the plunge, the price of SAND has come down to $5.27 per SAND, with a $26,914,713,004 trading volume in the past 7-days.
The seven-day low SAND hit was $4.19 per SAND, and the seven-day high SAND hit was $7.19 per SAND. At present, the valuation of SAND is at $4,702,495,602, making it the 38th largest cryptocurrency by market valuation.
There are many more cryptocurrencies such as THETA (THETA), Enjin Coin (ENJ), WAX (WAXP), and SushiSwap (SUSHI) have experienced a great plunge in the metaverse. These networks have experienced 30.35%, 28.84%, 38.30%, and 32.43 plunges in the past 7-days.