Metaverse News

Metaverse Ranks Worst Performing Crypto Sector of the Year

According to a recent annual report by the crypto market research firm Arcane Research, “metaverse,” one of the most searched crypto terms in 2021, emerged as the biggest loser of 2022. The report highlights that the once-thriving industry saw a dramatic decrease of 89% throughout 2022.

In contrast, the sector least affected over the year was cryptocurrencies with a focus on privacy. Projects such as Monero, ZCash, and Dash experienced a 47% loss since the start of the year, which compares favorably to the 58% loss reported for exchange tokens.

Bitcoin, the pioneering cryptocurrency, and Ethereum, its most significant successor, declined by 65% and 68%, respectively.

Following Metaverse tokens, the second most significant loss was recorded in alternative layer-1 blockchain projects. Platform tokens, including BNB, suffered an average loss of 85% over the year.

What is Metaverse? The Rise and Fall of the Metaverse to the Top

Metaverse Ranks Worst Performing Crypto Sector of the Year
Metaverse Ranks Worst Performing Crypto Sector of the Year

The term “metaverse,” merging virtual reality technology with blockchain networks, translates to “virtual world” in Turkish.

Following the crypto bull market last year, the world’s largest social media platform, Facebook, rebranded its main group name to Meta, which propelled the local tokens of metaverse projects to soar significantly.

However, the bear market that commenced towards the year’s end has profoundly impacted the metaverse sector, which was the previous year’s largest beneficiary.

You may also like this content

Follow us on TWITTER (X) and be instantly informed about the latest developments…


" is the world's first AI and Metaverse platform, where Metaverse is considered the internet of the future. We have compiled all the latest developments and information about AI and Metaverse in one platform for your convenience. In the future, we will produce AI and Metaverse land and coins. Keep following us for updates on this exciting development."

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button