Cryptocurrencies rally on Facebook's 'Meta' rebrand
CNN
Facebook announced its company rebrand just last week, but a little-known cryptocurrency is already rallying in anticipation of an expanding metaverse.
On Saturday, mana, a gaming cryptocurrency used to buy and sell virtual land, surged to a record high of $4.16, more than 400% above where it was valued earlier in the week. It's total market value reached a high of $7.52 billion. It has since fallen to about $2.99 per token as of Monday afternoon, with a total value of about $5.5 billion, according to CoinMarketCap.
The little-known crypto was established in 2017 as the national token for Decentraland, a virtual reality platform where users can buy and sell digital properties that they can navigate through and build on.
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