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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Apple’s Vision Pro Launch Impacts Metaverse, Why This Token Recorded 160% In Profits

Reynaldo Marquez
Reynaldo Marquez
2 years ago
2 mins read
Apple Crypto ETH ETHUSDT Metaverse

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The crypto market has been flowing in a sea of red as major assets experienced a correction over the weekend, but tech giant Apple could offer relief. Every cryptocurrency, except for Bitcoin, trended to the downside, but some sectors have bloomed amidst the panic and selling pressure.

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In particular, some tokens in the Metaverse sector have seen important profits. The assets’ positive price action, defying the overall trend in the crypto market, seems related to Apple’s launch of its new product the Vision Pro.

Apple SAND SANDUSDT ETH ETHUSDT
SAND’s price trends to the downside on the daily chart. Source: SANDUSDT Tradingview

Metaverse Tokens Bloom As Hype For The Apple Vision Pro Growths

Apple’s Vision Pro is the company’s first “spatial computer,” the headset will allow users to blend the physical with the digital world. In that sense, people will have the capacity to interact with applications, content, media across different formats, and more.

The Metaverse and the projects using blockchain technology to support their platforms want to achieve the same objectives. Thus, there has been a growing correlation between Metaverse tokens and announcements from big tech companies related to the sector.

According to a study from CoinGecko, the Apple Vision Pro highlighted the positive performance of Metaverse and Augmented Reality tokens. At its publication, the study showed that Ovr and its native Metaverse token (OVR) saw a 168.6% increase on the back of the announcement.

By late May and early June, the token climbed from a low of around $0.28 to $0.74. Other small-cap tokens in the sector experienced similar gains. VFOX recorded a 62% profit between May 15 and June 7, and virtual reality token CUBE from the Metaverse project Somnium rose by around 40% over the same period.

Metaverse tokens with larger market caps appreciated pre and after the Apple announcement, although they registered fewer profits. The Sandbox (SAND) saw an 18% increase between mid-May and June 5, and Decentraland (MANA) saw fewer gains, with an 11% profit mostly registered during the announcement.

As seen in the chart below, SAND, OVR, and VFOX were just some of the tokens that benefited from the launch of the Vision Pro.

Apple Metaverse ETH ETHUSDT
Metaverse token rose with the launch of the new Vision Pro. Source: CoinGecko

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However, the Metaverse has been partially affected by the current trend in the overall crypto market. Some tokens retraced some of their gains on the back of the most recent downturn, but the current price dip could be favorable for long-term investors, as these tokens could continue to benefit from similar announcements.

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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