In 2021, we witnessed massive rises in altcoins. While certain categories of cryptocurrencies rose one after the other with the hype, many investors who jumped on the train became millionaires.
This trend, which started with DeFi tokens, was followed by meme tokens. While the sharp rise in Dogecoin caused the birth of many meme tokens, we saw rallies called “cat and dog” rallies.
Recently, the Metaverse trend has started. In this trend, where Mana and Sand act as the locomotive, we observe that many new Metaverse-oriented cryptocurrencies have emerged. While the rise in Metaverse coins continued, a comparison came from Barry Silbert, the founder of Grayscale, one of the largest crypto money funds.
Comparing metaverse coins with meme tokens, Silbert said, “Metaverse coins are bigger than meme tokens.”
Metaverse tokens > Meme tokens
— Barry Silbert (@BarrySilbert) November 27, 2021
Silbert has always kept his distance from meme tokens as he is a good Bitcoin maximalist. Silbert was one of the names that undermined the big rally in Dogecoin. It was stated that Silbert, who announced that they opened a large amount of “Short” positions when they were close to the Dogecoin ATH, was one of the most important names that ended the rally.
*Not Investment Advice.