The cryptocurrency MAGIC coin has surged by 300% since the start of the new year due to continued interest in the metaverse. The cryptocurrency market has been on the rise, which was considered one of the primary factors that supported the MAGIC coin. MAGIC is an Arbitrum utility token. It is mostly used to purchase and sell NFTs on the Trove marketplace, although it may also be staked.
Weekly Trending Coins:#GFT – Gifto gained 4594.3%#AGIX – SingularityNET gained 215.4%#GRT – The Graph gained 97.8%#FET – https://t.co/9vKpEWAzds gained 93.5%#MAGIC – MAGIC gained 48.7%#RNDR – Render Token gained 37.7%#IMX – ImmutableX gained 36.5%#Altcoins #ToTheMoon pic.twitter.com/BsIt8GHuYh
— Crypto Stars App (@CryptoStarsApp) February 7, 2023
Moreover, the popularity of blockchain-based gaming ecosystems has increased, which appears to have benefited the MAGIC token. Although the MAGIC coin’s gains appear to be fading, as it fell by 0.36% in the previous 24 hours, it remains on a positive path.
However, the recent decline in the MAGIC coin might be attributed to the bearish crypto market, which has driven many cryptocurrencies down, including the MAGIC coin
The MAGIC/USDT saw an increase of 0.36% in the last day and is currently worth $412,934,107. MAGIC has a total 24-hour trading volume of $174,260,514. This makes MAGIC rank 98th on the market, with a market cap of $412 million. It has a total quantity of 347,714,007 MAGIC coins and a circulating circulation of 209,125,962 MAGIC coins.
What Every Investor Should Know About The Bearish Crypto Market
The global cryptocurrency market was unable to maintain its previous bullish rally and lost some ground on the day. This occurred when Bitcoin, the world’s largest cryptocurrency, began to lose pace and dropped below $23,000 Tuesday morning.
On the other hand, Ethereum maintained consistency at the $1,600 level. Therefore, the bearish crypto market was viewed as another important element that had a short negative influence on MAGIC coin pricing.
$xrp daily chart: Bearish head n shoulders pattern developing. We could either get triple bottom bullish bounce or break down below support to measured price target @ .10#xrp is !@TheCSCrypto #cryptomarket#MoonshotAlgorithm pic.twitter.com/4E4bodKJ9x
— Gorilla Moon God (@Shawncito830) February 7, 2023
However, the reason for the negative crypto market was growing anxiety over the potential impact of future US macroeconomic data. The surprisingly positive jobs data released on Friday sparked new worries and pushed cryptocurrency assets below $23,000 over the weekend after they crossed $24,000 a few times last week.
Declining US Dollar & What It Means For Your Finances?
The recent drops in the value of the US dollar may prevent more losses in the MAGIC coin. The US dollar fell on Tuesday following its early-week rise, but it was still trading above a one-month high as traders raised their predictions of the US Federal Reserve interest rate levels necessary to limit inflation.
— Tonio (@vr_tonio) February 6, 2023
Three Best Metaverse Crypto Projects in 2023
Presales are a great opportunity for people who are new to the cryptocurrency marketplace to try things out and purchase a presale coin. This article will look at the top three crypto presales now taking place.
These presales are unaffected by market volatility and might debut with tremendous rewards.
Fight Out is a cryptocurrency project that intends to reward users for performing various activities using smart technology. A user may create a profile using the Fight Out app, which provides training via video lessons suited to their unique fitness demands.
Huge news #FightOutCrew!
We have now raised over $3.9M in our presale
— Fight Out (@FightOut_) February 5, 2023
In addition, the team intends to open FightOut gyms in other locations throughout the globe. The FGHT coins are still up for presale and have already raised over $3.9 million, so now is the perfect moment to invest.
Tamadoge is one of the most prestigious initiatives of this early year, continuing the 2023 trend. The TAMA token had fantastic results from the presale campaign as well, which is excellent news for the GameFi community.
BIG NEWS – We are welcoming a new resident to the town TOMORROW
Give it up to #RocketDoge
— TAMADOGE (@Tamadogecoin) February 7, 2023
Tamadoge is a project built on the Play to Earn model. Given the popularity Tamadoge has gained recently, the project has a decent chance of getting accepted by Binance despite the brutal cryptocurrency winter.
Tamadoge is a gaming environment where players may grow their character, a Tamadoge Pet, and take part in play-to-earn (P2E) processes. It adopts the concept of Tamagotchi, a game that was popular in the 1990s.
RobotEra allows you to step into a world as a robot, obtaining resources from the planet you visit and controlling your territory while contributing to the world’s creation. You can communicate with several NFT groups in the RobotEra universe because of the platform’s common Multiverse that connects to other worlds.
Step into the world of unlimited possibilities with #RobotEra!
#RobotEra offers you the freedom to create everything you can imagine and start a new era with other Robots
— RobotEra (@robotera_io) February 7, 2023
Users of RobotEra can get awards for their time spent in the RobotEra Multiverse. You have two options for earning rewards: either explore unique locations and locate them or take part in quest tasks in the center city.
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Fight Out - Next 100x Move to Earn Crypto
- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $4M+ Raised
- Real-World Community, Gym Chain