Metis Token, Led by Vitalik Buterin's Mother, Surges by 25% in 24 Hours
Date: 2023-12-23 Author: Dima Zakharov Categories: BUSINESS
Metis Token Soars by 25% in 24 Hours
In an astonishing turn of events, the Metis (METIS) token, under the leadership of Natalia Amelin, the mother of Ethereum co-founder Vitalik Buterin, has witnessed a meteoric rise of 25% within just 24 hours. The token is currently trading at $40, with a market capitalization of $183 million, as reported by CoinMarketCap.
Month-Over-Month Growth
Metis has not only experienced a substantial daily surge but has also achieved a remarkable month-over-month growth rate of 130%. This impressive performance has propelled Metis into the eighth position among the largest second-layer network tokens.
The Catalyst Behind the Surge
This surge in Metis' token value is believed to be linked to the recent announcement of the Metis Ecosystem Development Fund (EDF). The fund, comprising 4.6 million METIS tokens (equivalent to approximately $184 million), is scheduled for distribution in the first quarter of 2024.
Metis: A Next-Generation Decentralized Ecosystem
Metis is a permissionless Layer-2 network designed to facilitate the operation of next-generation decentralized applications. Built on the Optimistic Rollups stack, Metis ensures fast and cost-effective transactions. One of its key features is its data storage strategy, which leverages an off-chain storage solution through the Memo Labs platform by Sequencer.
The protocol's primary goal is to tackle the blockchain trilemma, addressing the challenges of decentralization, security, and scalability simultaneously.
Since its launch in 2021, Metis has processed over 9.7 million transactions with an average gas fee of just $0.0131, while the total value locked in the network has surpassed $306 million.
Natalia Amelin, the founder of Metis, is also the creator of CryptoChicks, a non-profit organization dedicated to supporting women in the blockchain space.
In the ever-evolving world of cryptocurrency, the surge of Metis tokens serves as a testament to the dynamic nature of this market, where significant developments can lead to substantial gains in a short span of time.
