Meta Announces AI-Powered Metaverse Project; Crypto Market Down

Mark Zuckerberg, founder of Meta Inc (formerly Facebook), has unveiled a new artificial intelligence-powered metaverse project. Meanwhile, Indian software giant TCS (Tata Consultancy Service) has started identifying opportunities in the metaverse world and is actively pursuing deals with companies operating in this space.

The global crypto market cap crashed by 4.92 per cent at $1.62 trillion at 8.59 am. Coinmarketcap data showed that the global crypto trading volume declined by a massive 99.98 per cent at $13.89 million.

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Cryptocurrency Prices

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $35,552.11, lower by 6.24 per cent in the last 24 hours.

Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, was also down by 5.65 per cent at $2,466.81.

“Bitcoin is trading above $37,500 at the moment and Ether is trading around $2,500. Geopolitical pressure and a potential war breaking out have elevated the volatility levels in the markets. Overall, the momentum signals and upside seem to be limited,” says Gaurav Dahake, CEO and founder, Bitbns.

Among other major coins, Cardano (ADA) was down by 7.83 per cent at $0.8245, Algorand (ALGO), which is known as the Ethereum killer, was also down by 7.71 per cent at $0.7448; its market cap was at $4,880,714,360. Binance Coin (BNB) was down by 5.67 per cent at $350.96, while Solana (SOL) was also down by 6.04 per cent at $81.59 and Polkadot (DOT) by 4.94 per cent at $15.34.

Today’s top gainer was OBRok Token (OBROCK), which was up by 132.13 per cent at $0.000006805. The top loser was Spook Inu (SINU), which was down by 100 per cent at $0.00000000003387.

Mark Zuckerberg reveals AI projects to power Metaverse https://t.co/Epg6tErnyS

— BBC News (World) (@BBCWorld) February 23, 2022

Meme Coin And DeFi Prices

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Dogecoin (DOGE) was down by 6.84 per cent at $0.1218. Its volume to market cap ratio stands at 0.04343. Rival Shiba Inu (SHIB) also fell 5.64 per cent at $0.00002382.

Dogelon Mars (ELON) was trading with a loss of 8.46 per cent at $0.0000007119. Floki Inu (FLOKI) was also down by 16.86 per cent at $0.00002968, while Samoyed Coin (SAMO) lost 2.51 per cent at $0.01923.

In the DeFi segment, YFI (yearn.finance) was trading with a loss of 6.85 per cent at $19,453.24, while Terra (LUNA) was down by 1.06 per cent at $54.88. Avalanche (AVAX) was down by 11.28 per cent at $68.69, Uniswap (UNI) lost 6.82 per cent to trade at $8.21, and Aave (AAVE) declined 8.36 per cent to $122.78.

Latest Updates

Zuckerberg has announced an artificial intelligence-powered metaverse project via a live stream. Meta has been investing in artificial intelligence for the past 10 years, said Yann LeCun, head of AI, Meta. In the live stream, Zuckerberg also announced its plan to build a universal speech translator. He was quoted as saying, “The ability to communicate with anyone in any language is a superpower that was dreamt of forever,” reported BBC.

Krishnan Ramanujam, president and head of business and technology services at TCS, in an interview with Moneycontrol, said, “We are quite excited about it, and we are making significant investments in metaverse along those lines. But the deal pipeline in terms of value will be very small.”