SOL And ETH Hit Four-Month Lows As Metaverse Tokens Drop

SOL and ETH hit four-month lows as the metaverse tokens all drop in value and the market is in the red again as we can see today in our latest altcoin news.

Bitcoin hit a six-month low and the other coins suffered too along with the metaverse and gaming tokens being in the free fall. Crypto prices kept on tumbling with the market being down 11% in the past 24 hours. Bitcoin hit a six-month low while SOL and ETH hit four-month lows. The bleeding hasn’t stopped after a huge drop in crypto prices on Thursday that worsened as the day went on and the market dropped even deeper into the red today with the other coins hitting their lowest prices in months.

BTC dropped to as low as $37,664 according to the data from CoinGecko and marked its lowest price since late July, six months ago. It is up a little at the time of writing to $38,356 but suffered an 11% loss over the past day. It was just over two months that BTC set a new all-time high price of $69,045 on November 10. BTC erased 44% of its value since the peak while ETH had an even bigger drop in the past 24 hours, dropping to $2757. This is the lowest point for ETH in four months and at a current price of $2784 ETH is down by 14% in the past day.

As of today a little under $116, Solana hit its lowest point since the start of September when the coin made a fast rise into the triple-digit range. It is up to $119 as of the time of writing for a 24-hour timeframe drop of 14% and now is down for 52% from its peak of $256. the crypto market is down by 11% over the past 24 hours with a market cap of $1.9 trillion but other top coins that made some big losses include Avalanche which dropped 15% and Cardano, Terra, and Polygon all dropped by 14%. Tokens for crypto games and metaverse projects saw some bigger losses following a rise later last year because of Facebook’s visible metaverse push and rebranding to META.

The Sandbox’s SAND token is down 16% over the past 24 hours to $3.67 marking a 30% decline over the past 2 weeks. While still being up from its last drop, it only topped $1 for the first time in late October and now the token is 56% off its peak of $8.40. in the meantime, the MANA token from ETH-based Decentraland dropped by 15% over the past 24 hours to a price of $2.44. just like SAND, it is still up over the past three months but it did drop dramatically from its all-time high of $5.85.

Source: https://www.dcforecasts.com/altcoin-news/sol-and-eth-hit-four-month-lows-as-metaverse-tokens-drop/