Metis Token Surges 40% as Incentive Program Announcement Sparks Discussion
The native token of the layer-2 Ethereum protocol, Metis, experienced a significant surge of over 40% in just 24 hours, reaching a price of $77.1 on December 26th, according to CoinGecko data. This surge in value coincides with news of an upcoming incentive program worth $350 million for the protocol.
Increase in Market Capitalization and Liquidity
As of now, the market capitalization of the METIS token stands at $345.6 million. The anticipation surrounding the launch of the incentive program has generated heightened discussion within the crypto community. Additionally, there has been a substantial increase in liquidity within Metis’ ecosystem, with the total value locked (TVL) surging by 400% to surpass $550 million.
Ecosystem Development Fund and Future Investments
In mid-December, Metis introduced the Ecosystem Development Fund (Metis EDF) with an initial endowment of 4.6 million METIS tokens. The fund aims to accelerate the adoption and development of the Metis ecosystem. The first round of investments, expected in Q1 2024, will focus on supporting product development for existing Metis projects and various areas such as decentralized finance, real-world assets, and NFT startups.
About Metis Protocol
Founded in November 2021 by Elena Sinelnikova, Kevin Liu, and Yuan Su, Metis is an Ethereum layer-2 protocol designed to address scalability issues, transaction speed limitations, and high gas fees associated with Ethereum.
Hot Take: Anticipation Drives Metis Token Surge Ahead of Incentive Program Announcement
Metis’ native token, METIS, experienced a remarkable surge of over 40% within just 24 hours. This surge in value coincides with the anticipation surrounding the imminent announcement of a $350 million incentive program for the Metis layer-2 Ethereum protocol. As the market capitalization of the token reached $345.6 million and liquidity within Metis’ ecosystem soared, discussions within the crypto community intensified. The upcoming Ecosystem Development Fund and future investments further contribute to the growing interest in Metis. Founded to tackle scalability and gas fee issues, Metis aims to revolutionize the Ethereum ecosystem.
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