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Total crypto market cap drops by 6.7%, but futures data finds a silver lining
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Looking at the past 7-days of winners and losers might give one the impression that cryptocurrency markets are net positive. Still, total market capitalization actually fell by 6.7% to $2.72 trillion as Bitcoin's (BTC) price retraced 8.3% to $58,425.
The only connection between this week's top gainers seems to be the Metaverse and gaming sector, which has been on a bull run since Facebook rebranded to Meta on Oct. 28, signaling its new focus on that segment. Further bullish news backing the current surge in Metaverse-related tokens is Gemini exchange raising $400 million on Nov. 19 to build a decentralized Metaverse.
Gala (GALA) pumped after its Coinbase and Huobi listing on Nov. 16. The utility token powers a decentralized gaming ecosystem
Read more on cointelegraph.comAbout this in other media
Sizzling cryptocurrencies: Top 6 market cap gainers in a year cnbctv18.com /2 years ago
Crypto Market Sentiment Down for Third Week in a Row cryptonews.com /2 years ago
Securities regulator SEBI to oversee India’s crypto market, report reveals ambcrypto.com /2 years ago
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