There has been a lot of chatter around BTC and ETH these last weeks…

There has been a lot of chatter around BTC and ETH these last weeks as they have reached their ATHs (all-time-highs), but last week, a new record has been hit: the combined capitalization of DeFi tokens pushed above its May all-time high of $150B, reaching $154B. (at the time of writing). According to CoinGecko, DeFi assets currently represent 5.6% of the combined crypto market cap.

So who are the top gainers right now that we should be keeping our eyes on?

Terra (LUNA) definitely positions itself at first place, as DeFi’s largest market, representing 11.4% of the sector’s top 100 with a capitalization of $17.4B.

Ranking at second place, we have Chainlink (LINK), with $14.4B.

Chainlink currently represents 9.6% of the top 100 DeFi tokens’ capitalization.

Following Chainlink, there is Uniswap, representing around 8.9% of the market, with a total market cap of $13.3B.

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But now..I’d like to shift our focus onto the hottest news over the last week, that everybody has been talking about… Facebook rebranding to Meta.

Are we getting closer to an interoperable world? And will Meta and the other already established blockchain metaverses coexist? There are just so many questions that still need to be answered.

I honestly really liked Raoul Pal’s personal take on it:

 

One thing is for sure, that this announcement initiated a “Meta Fomo”, resulting in prices skyrocketing among other Metaverse projects.

One that saw a major boost is Decentraland, a browser-based virtual world with its own economy, currency (MANA). Within 24 hours after the Meta announcement, it saw its market valuation skyrocket from $1.44 billion to $2.08 billion, with its MANA token trading around $4 over the weekend (insane, as it was only around $0,70 last week).

But this price boom also impacted other metaverse projects and their respective tokens such as Axie Infinity (AXS), the Sandbox (SAND), Illuvium (ILV) and Division Network (DVI).

If you had already invested in these projects, good for you…But if you are looking forward to doing that now, you might wanna wait for the next price correction since it is a little bit too risky now.

Investments aside, welcome to the Exponential Age! We are already in the midst of the fastest technology change in human history. Can’t wait for what is to come! How do you envision the world 10 years from now?

Izzy’s Weekly Book Club

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So, to be honest, I am kind of embarrassed it took me so long to purchase this one since I have been working in the metaverse for over a year, but better late than never!

And honestly, with last week’s Meta announcement, this book recommendation comes in good timing.

Still currently reading, but I highly suggest reading Snow Crash, by Neal Stephenson, one of the most important cultural references when it comes to the Metaverse.

Stay tuned for next week, where I will review it fully after finishing. 😉

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