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Metaverse cryptocurrency price may be linked to actions on Facebook's Meta

Metaverse cryptocurrency price may be linked to actions on Facebook’s Meta

Benefiting from Facebook’s name change to Meta, the metaverse cryptocurrency has become the latest craze in the industry and has seen its price skyrocket in recent months. However, the current weekly decline in Meta shares may affect the price of this cryptocurrency.

While it’s still too early to talk about the future of the metaverse, it’s important to note Some tokens are already showing big fixes. And while Bitcoin has some influence on this, Meta may also be behind this latest drop.

Despite breathing for a month after the name change, Meta is already a bad investment again. Not only with its lower share price, but also its adoption as the cryptocurrency Metaverse is attracting individuals and businesses at a faster pace.

Meta and Metaverso

While the name change from Facebook Inc. To Meta Plataforms Inc. Having stopped its stock from bleeding — showing a nearly 15% rally in November — it has fallen again in recent weeks.

Meta Platforms Inc. Stock Price Source: TradingView

By opening December with a solid drop – 8.66% at the moment – this may be a red flag for a cryptocurrency that also started December on a bad note. It indicates the connection between these two worlds.

Cryptocurrency drops. Source: CoinGecko

Even with great value deals on NFTs – like Earth NS virtual yachts In this last period, almost all major cryptocurrencies experienced losses in the three time periods shown by CoinGecko.

In addition to the potential correlation with Meta performance, it is also worth noting that Bitcoin, which has also fallen this week (-5.9%), still appears to be the biggest influencer on altcoins.

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Meta wants to fit into the metaverse

Another intriguing point is that Meta, the main responsible for the boom in this sector, wants to join the cryptocurrency projects. This can be seen on Twitter on Thursday (1) and Friday (2) when the project’s official profile commented on tweets from adidas and sand.

“Love seeing this! The metaverse is getting better every day”

We can’t wait to see adidas in the metaverse.

Since it’s hard to believe that Meta is incorporating cryptocurrencies into its platforms – instead of using a cryptocurrency like Bitcoin, it has tried to create its own, Libra/Dim These comments seem to be a cry for help.

After all, people already understand that it is better to participate in decentralized metrics, with the possibility of participating in their economy, than to sell their data to increase the company’s revenue from advertising sales.