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While the meme coin craze continues in the world of cryptocurrencies, the general market is still experiencing a downturn. After the price of Bitcoin rose above $73,500, its subsequent drop below $67,000 today has raised significant concerns in the market. So, which altcoins are investors paying the most attention to, and what is their current status?
What Is the Current Price of Ethereum?
Ethereum, the undisputed leader of the altcoin market, is worth starting our analysis with. The price of Ethereum had surpassed the $4,000 level before the critical Decun upgrade.
After the update was successfully implemented, a classic “sell the news” scenario occurred, and the price plummeted. The price drop was also influenced by the Producer Price Index data coming from the United States. The data exceeded expectations and had a negative impact on the price.
ETH price first lost the critical $4,000 level. Then, following a 5.8% drop in the last 24 hours, it fell to $3,620. Similarly, the market cap also experienced a comparable decline, dropping to $435 billion.
However, there was a noticeable increase in the 24-hour trading volume. After a 33% increase, ETH’s trading volume reached $33.37 billion at the end of 24 hours, indicating significant trading activity by investors.
Litecoin Price Outlook
Secondly, if we examine Litecoin specifically, a clear price drop is evident. Litecoin (LTC) experienced a 6.42% decrease in the last 24 hours, and its price subsequently fell to $87.93.
This price drop also reflected in the market cap. LTC’s market cap fell to $6.5 billion and, as of this writing, ranks 20th in terms of volume. Additionally, there was an increase of over 10% in the 24-hour trading volume, reaching around $900 million, which could be interpreted as a sell-off.
MANA Coin Price Situation
Lastly, Decentraland’s MANA coin, one of the most talked-about metaverse projects alongside Sandbox, was among the biggest losers in the last 24 hours. After an 8.21% drop, the price fell to $0.673.
Following the price drop, the market cap receded to $1.2 billion, while the 24-hour trading volume saw a 13% increase to $210 million. MANA was one of the most profitable projects during the previous bull run.
With innovations in the metaverse space alongside Sandbox (SAND), the project continues to attract attention, and where it will head in the future remains a topic of interest.
