Global cryptocurrency market price drops 6.7%, but future data brings some silver lining

Meta-global, gaming, and support DeFi tokens stood out against the model, despite the overall market value of bitcoin and crypto promises last week. This sentence describes several reasons.

If you look at the cryptocurrency market over the past 7 days, you may get the impression that the cryptocurrency market is profitable. However, as the value of Bitcoin (BTC) rose 8.3% to $ 58,425, its actual capital fell 6.7% to $ 2.72 trillion.

Only the highest earning combinations this week like Metaverse and Gaming. Tokens associated with the Meta universe have been on the bullish market since Facebook switched to Meta on October 28, giving the site a new direction. Another bullish news supporting the current rise in metaspace-linked tokens is that on November 19, the Gemini cryptocurrency exchange raised $ 400 million to create a decentralized meta-space.

The driving force of the company is excellent

Gala (GALA) rose after Coinbase and Huobi listed on November 16. Utility Tokens are part of the community game, which allows players to have a say in finances and upgrade levels.

Crypto.com (CRO) also sent its good news on November 18. The Singapore-based venture capital firm has decided to spend $ 700 million to buy names for the stadium where the NBA Los Angeles Lakers play.

On November 19, Elrond (EGLD) announced a $ 1.29 billion sponsorship campaign to help attract consumers and revenue to community financial distribution. The project uses sharding technology to achieve 15,000 conversions per second (TPS).

Decentralized exchange tokens are affected.

The worst performing are the two electronic token exchanges. The only bad news seems to be the files of the members of the Securities and Exchange Commission of November 9. The research report noted that the industry lacks market protection and raises concerns about anonymity and fraud.

Quant (QNT) remains lower after rebounding 122% on the 7th day of September 3, with a promising change to reflect the ERC-20 and ERC-721 tokens.

There were 38% recalls in the 7 days before Vechain Thor (VET) announced the Certificate of Authorization (PoA) V2.0 mechanism testnet on November 2. This enhancement provides greater security of choice for block makers.

Currently, the 99% indicator is slightly bearish and signals low demand from cryptocurrency traders to convert their money into cash. This is a significant improvement from the 5% discount in mid-October.

At the same time, all open positions in cryptocurrency futures contracts were negatively affected by the total price losses. However, the move is expected to take place this week after a market reversal and the removal of around $ 2.7 billion.

However, the indicator still stands at a health level of $ 50.3 billion, up 60% from the previous two months. The decline in open jobs doesn't necessarily mean the market is bearish, but it should be noted that it is still at a level as more suppliers and manufacturers enter the market.

The above data may not be favorable, but given that Bitcoin (BTC) and ETHer (ETH) have been hit hard this week, the overall business model has held up very well. Betting on “cottage season” may be disappointing, but there hasn't been a drop of at least 15%.