Merit Circle (MC) token mostly showed the downside outlook as its recent one month and week price following bearish trend. Moreover, in the past month, the token lost 28% of its value, while in one year the drop was almost 78%. Turning heads towards its all-time price performance, it further showed a decline of over 90%. However, in the past 24-hours, the token gained little price and moved upside.
MC Token Price Analysis
At press time, MC token is trading at the price of $0.172727 with a 24-hour trading volume of $1.41 Millon. The token is up 0.13% in the last 24 hours, with a current market cap of $67.41 Million, as per the data sourced from CoinMarketCap (CMC). The lowest price noted by the token was at $0.1683, while the high was at $0.1735 in the past 24-hours. The trading volume also rose nearly 8% with $1 Million in the same time period.
As seen in the above price chart, the price drop in the past week was not positive for MC tokens. Majority of investors showed their loose confidence, which eventually dropped down the token price. Moreover, the overall price performance also noted massive price decline.
Furthermore, heading towards the global crypto market cap, it is at $1.06 Trillion showing a 0.48% decrease over the last day. Also, the total crypto market volume over the last 24 hours is $29.42 Billion, which makes a 3.15% increase. The total volume in the decentralized finance (DeFi) is currently at $1.96 Billion, 6.65% of the total crypto market 24-hour volume.
At present, the volume of all stable coins is $28.25 Billion, which is 96.02% of the total crypto market 24-hour volume. Last but not the least, the dominance of the most traded cryptocurrency by market cap, Bitcoin (BTC) showed its dominance in the market with 47.58%, a decrease of 0.11% over the day.
The Merit Circle DAO
Merit Circle is a play-to-earn gaming decentralized autonomous organization (DAO). It provides staking options to its token holders, while operating on a governance model. It also supports non-fungible token (NFT) games, Axie Infinity and an NFT gaming studio, Vulcan Forged.
This protocol revolves around governance, play-to-earn games, and NFTs. Majorly, MC serves three different communities which includes gamers, managers, and DAO contributors.
The total market cap of DAO tokens stands nearly at $15.16 Billion, which is up 0.59% in the past 24-hours. Uniswap (UNI), Internet Computer (ICP), Lido DAO (LDO) and Arbitrum (ARB) are the leading DAO tokens in the list of top DAO tokens by market cap. However, along with MC token, all these four tokens also showed bearish outlook in the past 7-days.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/06/14/merit-circle-mc-token-down-over-12-in-the-recent-7-days/