Author: dfmines

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Cryptocurrencies all across the market have been suffering major downside since the crash. The crypto market saw a couple of hundred billions shaved off its market cap following this. Bitcoin, Ethereum, and others have all seen their value decline significantly in the space of a week. However, in all of this, some digital assets have been hit harder than others. This report takes a look at those cryptocurrencies. Metaverse Tokens Take A Hit The crypto market’s recent decline has been characterized by bloody streets. As expected, bitcoin’s 52% decline from its all-time high has dragged down other digital assets with it. Ethereum, the second largest cryptocurrency by market cap, is down 54% from its own all-time high. While these cryptocurrencies have seen major downsides, others have managed even more dips since then. Related Reading | Market Sentiment Crumbles As Sell-Offs Drags Bitcoin To $33,000 Metaverse tokens which made a big splash when social media giant Facebook announced it was rebranding to Meta and entering the metaverse space, have borne some of the largest weight from the crash. These tokens which rallied to multiple all-time highs in the last couple of months have declined as high as 68% from their all-time highs. Metaverse tokens take some of the biggest hit | Source: Arcane Research MANA, SAND, and AXIE are some of the most popular metaverse tokens and have grown a lot in price in accordance with their popularity. However, with the market crash, they have not been able to hold up well. All of these tokens have lost over 68% since they hit their all-time highs. All three met averse tokens are down, trading at $2.27, $3.27, and $52.66 respectively. What About Layer 1 Cryptocurrencies? Layer 1 cryptocurrencies also took a major hit but have seen a more varied performance when compared to the metaverse tokens. Heavy hitter like Solana (SOL) and Cardano (ADA) were some of the hardest hit Layer 1 cryptocurrencies, both of them going the way of the metaverse tokens with over 68% losses since their various all-time highs. Other lesser known Layer 1 tokens have a different story though. Related Reading | Ethereum Leaves ETH 2.0 In The Past In New Roadmap Rebrand FTM, ONE, ATOM, and Near, popularly referred to as the FOAN, made a splash while others were suffering. Each one of these cryptocurrencies have managed to outperform the market in a time where altcoins are dumping in response to bitcoin’s decline. A look at decentralized finance (DeFi) paints a sadder story. This space that has brought finance products closer to the average investor saw some of the highest declines. Tokens from this space have recorded as high as 80% decline since their all-time highs. The crypto market has managed to hold up against the crash but not before losing substantial value. In total, the crypto market is now down 50% from its all-time high. It now sits at $1.686 trillion at the time of this writing. Crypto market cap crumbles to $1.6 trillion | Source: Crypto Total Market Cap on TradingView.com Featured image from Bitcoin Magazine, charts from Arcane Research and TradingView.com

Meta, formerly Facebook, is reportedly in talks with investment bankers to sell its assets in the cryptocurrency project Diem, formerly Libra. The diem USD stablecoin was supposed to be issued by Silvergate Bank but it failed to get regulatory approval. Meta Reportedly Seeking Buyers for Diem Crypto Project Mark Zuckerberg’s Meta, formerly Facebook, is trying […]

I don’t care if you are a Solana fan, ETH moonboi, Bitcoin or bust, etc The time to end tribalism is now. The church of Charles Hoskinson (yes that guy many of you love to hate) just blessed us with a video and I really think you need to watch it. https://youtu.be/a2IP9ApZuUU Basically the government…
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After the Infrastructure bill debacle where anti-crypto laws were introduced in a must pass bill, now a new America COMPETES act has just been filed in Congress. This Bill on the surface seeks to make US more competitive against China. But hidden deep in its 2900 pages, this Bill contains provisions that give the Treasury…
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I can not believe that one and a half green days has got some of you talking about "the dip" in past tense. That some how this isnt over and we are heading back to 69k tomorrow especially since all the macro economic issues that are causing this haven't been resolved at all Let us…
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