The R Roundup: What Does ‘Meta’ Mean For Crypto? — Issue #13
With the recent changes to Facebooks company name, CEO Mark Zuckerberg expressed his views on the direction in which the future of the internet is going through with the choice of the new company name “META”.
Zuckerberg hopes that Meta will ‘echo’ the key pointers of the new direction which they aim to develop in. Those who are unaware, Meta extracted the company name from the concept of a Metaverse which represents the ideas of the next hypothesised iteration of the internet which includes the involvement of 3D virtual realities.
Those who are well versed in the crypto community, will know that the concept of a Metaverse is one which isn’t unfamiliar. Many different projects which have been building within the NFT space have been building and developing products which align with the proposed new ‘Metaverse’. With Facebook changing their company name to ‘META’, the demand for components to the Metaverse can be fulfilled by the crypto currency space.
This unlocks end-less opportunity to be involved in the next generational disruptive development. It is almost inevitable that NFTs will play a part in the idea of a Metaverse which once again extends the possibilities for mass adoption.
Dog Coin Mania?🦴
A reoccurring trend during each bull-run seems to be the major gains from “Meme-coins” specifically those built around dogs.
Recently this week we have seen new ATH’s from $ELON & $SHIB. Despite the astronomical gains to be achieved through these coins, without providing much fundamental value the level of risk is always extended while trading or investing in meme coins.
It is fair to say that dog coin mania has reached an exceptional level as recently $SHIB was listed on Coinbase, exposing over 68 million average users to the meme-coin asset.
$SOL SEASON TO CONTINUE INTO WINTER 🧊
With the continuation of bullish momentum within the crypto markets, Solana continues its rise with another ATH printed. During Q2/3 despite the horrendous state of the market, $SOL was a consistent performer.
This trend looks to continue throughout the winter with $SOL printing a new ATH at $259.96.
Despite recent questions to the Solana network due to the recent downtime which occurred on the 20th of September 2021, the $SOL community seems to be going strong and we could potentially see a continuation of momentum from Solana based projects.
As a reminder this is not a trading signal, it is an opinion and each trader/investor should know and understand the risks attached with trading. At no point should this be regarded as financial advice.
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