The rise of digital currencies with the nature of “Metaverse” coincides with the decrease in the share price of “Meta” company


0

[ad_1]

The world’s largest social networking platform “Facebook” saw the shares of its parent company “Meta” drop by more than 26% during yesterday’s trading session.

Simultaneously, cryptocurrencies linked to metaverse have risen over the past week.

FB stock is down more than 22% during yesterday’s trading session.

The common stock was no better off as the stock lost a total of 26.39% in the past 24 hours, wiping out over $200 billion from its total market value.

As for the reason for the decline, it remained hidden in the Meta financial report for the fourth quarter of 2021.

The document revealed that Facebook saw a decrease in the number of daily active users (DAU) for the first time, and it appears that the markets were quick to respond.

Meta also wrote off $10 billion as expenditures on metaverse research were revealed in the fourth quarter of 2021.

Advertisements

Interestingly, cryptocurrencies related to metaverses such as SAND and MANA have been on the rise over the past few days.

In the past week, the price of the digital currency “MANA” increased by almost 20%, while the price of SAND rose by 7.5%.

The current chapter in the performance process of Facebook’s stock and meta-currencies is interesting given the accelerating events of the past.

Last year, when Mark Zuckerberg revealed that the company would rebrand to Meta in an effort to drive the development of associated digital tokens, the value of cryptocurrencies specializing in metaverses skyrocketed.

Read also:

In its quest for the success of the Bitcoin initiative… El Salvador publishes 1,500 Bitcoins from ATMs and restarts the “Chivo” wallet

Google CEO praises Web 3 and reveals that Google is thinking about blockchain

[ad_2]

Advertisements


Like it? Share with your friends!

0

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
NP

0 Comments

Your email address will not be published.