Bitcoin had its worst-performing week since May as it slumped below 57k while Ethereum also struggled dipping below 4k. The steep sell-off — without a clear catalyst aside from technical factors — drove $883 million in liquidations on Wednesday. Most alts followed suit to fall over 10%, with the notable exception of some metaverse tokens like SAND and MANA continuing their relentless growth.
The Sandbox is an Ethereum-based blockchain project that has gained tremendous attention for its ties to the metaverse. On The Sandbox platform, users can create their own virtual worlds, interact with others, and create digital assets like non-fungible tokens (NFTs). These can either be integrated into this online game or added to the platform’s marketplace. Interest in the metaverse has spiked, following a series of high-profile moves from big tech players in recent weeks. Most readers know about the high-profile renaming of Facebook to Meta Platforms.
One trader on Iconomi Platform killed the Sandbox and Shiba Inu euphoria by generating 600000% returns over a year giving me major FOMO ! Back home panic around the upcoming crypto bill shook the Indian crypto prices compared to the global peers.
Highly-vaccinated Austria has imposed a new COVID lockdown in response to increasing case numbers .Other european countries also saw an uptick in cases.These events have driven some risk-off sentiment, with tech stocks outperforming the broader market .
IPO Frenzy in India met with a rude shock when Paytm tanked 25% on listing day. People expecting IPO listing to be free lunch can relook their opinion
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