{"id":2883,"date":"2022-02-04T17:00:00","date_gmt":"2022-02-04T16:00:00","guid":{"rendered":"https:\/\/ancstockinvestments.com\/blog\/?p=2883"},"modified":"2022-02-04T14:16:20","modified_gmt":"2022-02-04T13:16:20","slug":"major-metaverse-tokens-rise-metas-share-price-plunge","status":"publish","type":"post","link":"https:\/\/ancstockinvestments.com\/blog\/2022\/02\/04\/major-metaverse-tokens-rise-metas-share-price-plunge\/","title":{"rendered":"Meta\u2019s Share Price Plunges, Drags Tech Stocks Down, Major Metaverse Tokens Surge"},"content":{"rendered":"\n<p>Wall Street has never seen anything like Meta\u2019s stock crash on Thursday. <\/p>\n\n\n\n<p>After a shockingly bad earnings report Wednesday, more than $250 billion was wiped off Meta\u2019s market value as its shares plunged 27%. It\u2019s by far the biggest single-day drop in value in the US stock market\u2019s history.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"770\" height=\"475\" data-src=\"https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2022\/02\/383590653.jpg\" alt=\"\" class=\"wp-image-2885 lazyload\" data-srcset=\"https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2022\/02\/383590653.jpg 770w, https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2022\/02\/383590653-300x185.jpg 300w, https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2022\/02\/383590653-768x474.jpg 768w\" data-sizes=\"(max-width: 770px) 100vw, 770px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 770px; --smush-placeholder-aspect-ratio: 770\/475;\" \/><\/figure>\n\n\n\n<p>And it brought just about everyone else down with it.<\/p>\n\n\n\n<p>Tech stocks dragged the Nasdaq down 3.7%. The S&amp;P 500, the broadest measure of the US stock market, fell 2.4%. The Dow fared only slightly better, trading down 1.5%. (That&#8217;s still a nearly-520 point drop), all thanks to Meta.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Meta\u2019s problems are enormous<\/strong><\/h2>\n\n\n\n<p>Facebook\u2019s daily users \u2014 1.93 billion \u2014 are on a sharp decline with attention moving to other platforms like TikTok. And that\u2019s hurting Facebook\u2019s advertising business which makes up about 99.5% of its total revenue.<\/p>\n\n\n\n<p>Mark Zuckerberg has so far failed to rip off TikTok from a rival to make a copycat. All he has succeeded in is introducing Reels which is mostly just recycled TikToks.<\/p>\n\n\n\n<p>Meta is pumping lots of cash into the Metaverse, which will likely take 10 years to play out, and even Mark Zuckerberg has admitted that the <em>\u201cpath ahead is not yet perfectly defined.&#8221;<\/em><\/p>\n\n\n\n<p>Late last year, the company changed its name from Facebook to signal its plans to focus on the Metaverse. It seems, however, that Meta\u2019s struggle with its decentralized competitors in the Metaverse space has done nothing but drag down its share price.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"600\" height=\"328\" data-src=\"https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2022\/02\/News-Brief_2022-02-04T012533.308Z.jpg\" alt=\"\" class=\"wp-image-2884 lazyload\" data-srcset=\"https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2022\/02\/News-Brief_2022-02-04T012533.308Z.jpg 600w, https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2022\/02\/News-Brief_2022-02-04T012533.308Z-300x164.jpg 300w\" data-sizes=\"(max-width: 600px) 100vw, 600px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 600px; --smush-placeholder-aspect-ratio: 600\/328;\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Metaverse tokens rise on Meta\u2019s demise<\/strong><\/h2>\n\n\n\n<p>While some may expect all metaverse-related investments to perform similarly, quite the opposite is happening.<\/p>\n\n\n\n<p>What\u2019s more, <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/ancstockinvestments.com\/blog\/2022\/02\/03\/top-10-metaverse-tokens-control-26b-metaverse-market\/\" target=\"_blank\">10 Metaverse tokens<\/a> hold most of the sector\u2019s trading volume. A recent analysis shows them accounting for $18.67 billion of the $26.3 billion sector in the past week.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"819\" height=\"722\" data-src=\"https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2022\/02\/Screenshot_39.png\" alt=\"\" class=\"wp-image-2831 lazyload\" data-srcset=\"https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2022\/02\/Screenshot_39.png 819w, https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2022\/02\/Screenshot_39-300x264.png 300w, https:\/\/ancstockinvestments.com\/blog\/wp-content\/uploads\/2022\/02\/Screenshot_39-768x677.png 768w\" data-sizes=\"(max-width: 819px) 100vw, 819px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 819px; --smush-placeholder-aspect-ratio: 819\/722;\" \/><\/figure>\n\n\n\n<p>Metaverse tokens like MANA and SAND have <a href=\"https:\/\/cointelegraph.com\/news\/rise-of-web3-metaverse-tokens-surge-as-meta-s-share-price-plunges\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">experienced some very healthy growth<\/a>.<\/p>\n\n\n\n<p>Decentraland, a Metaverse platform built on Ethereum, has seen the price of its token MANA increase by over 20% in the past seven days. The token surged from a seven-day low of $2.19 to recent support levels around the $2.60 mark.<\/p>\n\n\n\n<p>Likewise, SAND tokens for The Sandbox, one of Decentraland\u2019s main Metaverse competitors, have seen a seven-day gain of 17.5%. Entering the weekend at a low of $3.31 before surging to a high of over $4, SAND is now seeing support levels around $3.60.<\/p>\n\n\n\n<p>Facebook\u2019s Metaverse was once feared to have the potential to push out decentralized Metaverse competitors. This unsavory prospect, however, seems less likely after Meta\u2019s poor performance. The general belief in blockchain Metaverses has now grown even bigger than ever.<\/p>\n\n\n\n<p>From the look of things, Meta\u2019s Metaverse will be both centralized and built around extracting and gathering user data with the aim of proving a hefty revenue stream for the tech giant.&nbsp;<\/p>\n\n\n\n<p>Meanwhile, users will begin to see the merits of Meta\u2019s decentralized counterparts \u2013 especially with regards to ownership and control.<\/p>\n\n\n\n<p>With major partnerships continuously being announced and exciting new Metaverse projects popping up, it seems that 2022 could be a big year for cryptocurrency-oriented virtual worlds.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As Meta\u2019s share price plummeted on Thursday following a shockingly bad earnings report Wednesday, major metaverse tokens have been building!<\/p>\n","protected":false},"author":3,"featured_media":2886,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"content-type":"","inline_featured_image":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,3,10],"tags":[108,396,379,395],"series":[],"ppma_author":[463],"class_list":["post-2883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-investments","category-stock","tag-facebook","tag-meta","tag-metaverse","tag-metaverse-tokens"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Major Metaverse Tokens Rise on Meta\u2019s Share Price Plunge<\/title>\n<meta name=\"description\" content=\"As Meta\u2019s share price plummeted on Thursday following a shockingly bad earnings report Wednesday, major metaverse tokens have been building!\" 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