Tuesday, July 23, 2024

How the value of decentralized cryptocurrency has changed in the last day

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In the Decentraland metaverse, users can use cryptocurrency to acquire virtual plots of land or create content (such as NFT works) and sell it. (information)

Decentreland is a 3D virtual reality platform powered by Ethereumwhere you need your cryptocurrency to carry out any type of acquisition, which is known as shortening Manna.

In the decentralized metaverse Users can create, experiment, and monetize content and apps. One of the main features of the platform is the ability to acquire land in its virtual reality, build on it and ultimately monetize it.

Unlike other platforms, In decentralization, users are the owners rather than some company . Since MANA is the official cryptocurrency in the decentralized Metaverse, it is important to know its market value.

The decentralized cryptocurrency price for today at 10:00 AM (UTC) is $0.657549. This means that the digital currency is registered Change by -2.95% During the past 24 hours, in addition to a movement of -0.37% during the past hour.

Due to the level of capitalization, this digital currency ranks Position No. 86 among the most popular.

Cryptocurrencies are currencies that do not actually exist Unlike currencies such as the dollar, euro or peso, it is not regulated by any institution and does not require intermediaries in transactions.

Physical representation of various cryptocurrencies. (Reuters/Edgar Sow)

For this reason, they are not regularly viewed favorably by the official market and are accused of being unreliable, volatile, encouraging fraud, not having a legal framework that supports their users, and allowing illegal activities to operate, among other things.

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However, little by little it has opened the way to the point where corporations, millionaires and even countries have encouraged or allowed its use.

These cryptocurrencies work through cryptographic encryption that ensures the security of transactions.As well as controlling the creation of its units. To make transactions, Cryptocurrencies use a decentralized database, blockchain, or shared ledger.

There are currently several cryptocurrencies in this unregulated market, however, the pioneer was Bitcoin, which was created in 2008, and with it others emerged such as Litecoin, Ethereum, Bitcoin Cash, Ripple, Dogecoinsome of the most popular.

one of the richest men in the world, Elon MuskHe has made comments in favor of cryptocurrencies such as Bitcoin and Dogecoin, and even temporarily accepted cryptocurrencies at his electric car company Tesla, causing their cost to increase.

To buy any of the cryptocurrencies on this unregulated market, you have to go to specialized portals.

A worker helps a man use Bitcoin in front of the Chivo ATM, the digital wallet backed by the Salvadoran government, in San Salvador, El Salvador. September 8, 2021. (Reuters/Jose Cabezas)

It is worth noting that the value of each of these digital assets varies depending on supply and demand, as well as the commitment of the users themselves, which can cause sudden changes.

This means that the more people are interested and want to acquire a particular cryptocurrency, the higher its price will be and vice versa.

However, whoever invests in this type of digital asset should be very clear that this model brings with it a High risk of capitaljust as there may be an increase, it may also crash unexpectedly and wipe out its users' savings.

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