Meta Competes With Apple For Metaverse, Ukraine Says Crypto Is Vital For Their Defence

Meta CEO Mark Zuckerberg says it will build a more open and cost-effective metaverse than Apple's. Ukraine’s said that crypto is here to stay and that it is essential for their defence. As of this morning Bitcoin was up by 0.33 per cent and Ethereum by 0.63 per cent.

Outlook Money Team

Updated on: 27 July 2022 9:51 am

Meta Competes With Apple For Metaverse

Mark Zuckerberg, CEO, Meta (formerly Facebook), is of the opinion that it is in a deep, philosophical competition to build a metaverse world with Apple, according to The Verge, which said it had listened in to internal meeting recordings. He further believes that Meta is competing with Apple and that the company would try and position itself as the more open and cheaper option than Apple.

“This is a competition of philosophies and ideas, where they believe that by doing everything themselves and tightly integrating that they build a better consumer experience,” said Mark Zuckerberg in that internal meeting.

Zuckerberg says Meta is in "very deep, philosophical competition" with Apple to build the metaverse https://t.co/quwc9SzBru pic.twitter.com/wCvye8KmoE
— The Verge (@verge) July 26, 2022

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In another development, Alex Bornyakov, deputy minister of digital transformation of Ukraine, believes that despite the current crypto bear market, crypto is essential to Ukraine’s defence.

“Despite the ‘bear market’ crypto has become an essential tool of Ukraine's defence, providing flexibility and speed that literally saved our soldiers' lives. Every crypto winter leads to a crypto spring, but the industry is here to stay," he said in a Twitter post.

According to Tweets by Bornyakov, since the beginning of the Russia-Ukraine war, over $135 million was raised by Ukraine through crypto donations. Various media reports also peg that Ukraine has raised around $1.2 million through non-fungible token (NFT) sales.

Despite the "bear market" crypto has become an essential tool of Ukraine's defence, providing flexibility and speed that literally saved our soldiers' lives. Every "crypto winter" leads to a "crypto spring", but the industry is here to stay. https://t.co/Zhu93vso5T
— Alex Bornyakov (@abornyakov) July 26, 2022

Cryptocurrency Prices

The global crypto market capitalisation went up by 0.68 per cent to $972.46 billion as of 8.50 am. However, the global crypto volume went down by 16.05 per cent to $63.15 billion, according to Coinmarketcap data.

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $21,152.27, higher by 0.33 per cent in the last 24 hours. Ethereum (ETH) was up by 0.63 per cent to $1,430.69.

Among other significant coins, Cardano (ADA) was down by 0.9 per cent at $0.464, Algorand (ALGO) was trading with a loss of 0.66 per cent at $0.3074, Solana (SOL) fell 0.93 per cent at $36.05, Polkadot (DOT) was down by 0.01 per cent at $6.69, and Binance Coin (BNB) rose 4.16 per cent to $252.58.

Today’s top gainer was TerraClassicUSD (USTC), which was up by 16.05 per cent at $0.03897. The top loser was Convex Finance (CVX), which was down by 5.92 per cent at $6.03.

Meme Coin And DeFi Prices

Dogecoin (DOGE) was up by 0.59 per cent at $0.06212. Its volume to market cap ratio stands at 0.04607. Rival Shiba Inu (SHIB) was up by 1.52 per cent at $0.00001064.

Dogelon Mars (ELON) rose 0.25 per cent to trade at $0.0000003218, Floki Inu (FLOKI) lost 1.06 per cent at $0.000009971, and Samoyed Coin (SAMO) lost 1.75 per cent at $0.009593.

In the DeFi segment, YFI (yearn.finance) was up by 1.95 per cent at $6,703.54, and Terra Classic (LUNC) was trading with a gain of 3.88 per cent at $0.00009472. Avalanche (AVAX) was down by 0.97 per cent at $20.38, Uniswap (UNI) was trading with a loss of 2.84 per cent at $6.56, and Aave (AAVE) fell by 1.47 per cent at $79.61.