The cryptocurrency market has been slumping down for the past few months. In June, the global crypto market capitalization crashed below the $1 trillion mark. It reached 977 billion on 14th June 2022. Six months back, the market cap was about to touch $3 trillion.
Though there were some minor recoveries, the majority of the top cryptocurrencies are still trading low. The same story is true with NFT and metaverse coins.
Top metaverse and NFT tokens like FLOW, MANA, and APE are down by 25%, 23%, and 20%, respectively. Even the graph of the popular metaverse coin Sand shows a downward trend. Overall, the top NFT coins have fallen over 20% in the last 7 days.
Let us take a quick look at the price trend of each one of them.
1. Flow (FLOW)
At the time of writing, Flow is currently trading at $2.20 with a 2.80% decrease in the last 24 hours. The price graph has gone down by 24.95% in the last 7 days.
The market cap is at $2,282,230,577. In the past 24 hours, the trading volume amounts to $122,297,839, which is 38.95% down.
On 13th August 2022, the Flow price went up to $2.95. It was near to crossing its predicted $3 mark. However, the coin started to show a downtrend the next day.
On 14th August, Flow was at $2.80. The graph continued to fall down and ultimately went below $2.50 on 19th August. The graph dangerously touched $2.10 on the morning of 20th August. However, it did not drop below $2 and still held at $2.20 as we write the article.
2. ApeCoin (APE)
As of now, Apecoin is trading at $5.22, with a 0.14% decrease over the past 24 hours. The market cap is at $1,600,860,599 with a 24 hours trading volume at $361,709,253.
Over the past 7 days, the APE’s price graph has fallen considerably. It is down by 23.85% this week. APE was trading at $6.90 on 13th August, which dropped down to $5.2 on 20th August.
The graph started to go down from 14th August 2022. APE went down to $6.4 but then recovered to $6.9 the same day.
However, it again went down to $6.3 on 15th August and continued to fall miserably. On 19th August, it went below $6 to $5.8.
3. Decentraland (MANA)
The popular metaverse platform Decentraland‘s native token MANA is also down by 20.19% in the last 7 days. Currently, MANA is at $0.855, with a 0.60% surge since the last day.
It has a market capitalisation of $1,586,182,682 and a 24 hours trading volume of $167,495,035. As of now, 1.85 billion MANA coins are in circulation.
On 14th August, MANA was at $1.1 with a total market capitalization of $2.08 billion. However, by the end of the day, MANA slowly started to fall down and touched $1.06.
The next day, MANA recovered to its previous day’s price point. But by night its graph started to go down to $1. Since then, MANA has been trading dangerously near the $1 line.
On 17th August, it fell to $0.9, and its market cap went down to $1.82 billion.
4. Sandbox (SAND)
SAND is trading at $1.06 with a 0.08% decrease over the last day. It is witnessing a downward trend of 20.35% in the last 7 days.
Currently, it has a market cap of $1,517,650,337 and a circulating supply of 1,427,520,110 coins. According to market capitalization, it is the 3rd largest NFT coin.
On 13th August, SAND was at $1.3, which went to $1.4 the next day. Though the coin was trading safely at $1.3 on the 15th and 16th of August, it touched $1.2 on 18th August. By 19th August, it was already at $1.
5. Tezos (XTZ)
As of now, Tezos is at $1.61 with a 15.60% down over the past 7 days. Currently, it has a market capitalization of $1,460,157,331. There are 905,827,503 XTZ coins in supply.
Tezos was about to touch $2 on 14th August 2022. It was at $1.9 on 14th August but fell to $1.7 the next day.
A day after, TXZ made an outstanding recovery and touched the $2 price point. However, by the end of the day, it was again at $1.8. The graph stayed between $1.7 to $1.8 for two consecutive days.
Then on 19th August, it fell sharply to $1.6. For some time, the coin went to $1.5 on 20th August 2022.
Conclusion
If we look at the one-month price graph of top NFT coins, you will observe that major coins have gone back to their July-end low price points. There was some recovery in the first 10 – 12 days of August. However, we are again witnessing a major down trend.
