A couple of days ago I saw a rise in value in the METIS network, and that gave me curiosity, because as any retail investor, I saw that this could be an opportunity to enter in time to invest in a token of interest in this network, but not everything is so easy and behind this rise in value, there is a reason why this price rise occurred.
And today I want to show you a little more about this network and my personal opinion on this subject, I hope you enjoy reading and remember to leave a comment at the end of this article, it is always interesting to see everyone's point of view.
Image generated with Bing AI - Edited in Photoshop CC
Table of contents for this article.
♦️ What is the METIS network?
♦️ What gave the resent impetus to increase its value?
♦️ Possible METIS network tokens that revalue for this new year 2024?
♦️ My final thoughts on this analysis.
What is the METIS network?
To start this article, the main thing is to talk a little about what is METIS? Well, knowing this you will already better understand its functions and why users took some kind of interest in this network.
METIS is a fascinating solution within the Ethereum ecosystem. It is a blockchain project that focuses on increasing the efficiency of other blockchain projects so to speak, as Metis facilitates the realization of Layer 1 network transactions through Layer 2 protocols, improving the operations of Ethereum users in terms of cost and speed.
The Metis network was founded in 2018, but its official launch on the Ethereum mainnet didn't happen until November 2022, or that's what I managed to research, anyway you can go to Coinmarketcap for more and detailed information.
The development of this alternative chain is in charge of Metis Labs, and if we talk about the founders of Metis, it is led by Kevin Liu, Yuan Siu and Elena Sinelnikova, as well as Natalie Ameline and Sinelnikova, surely some do not take much interest in this, but in the crypto world it is important to know a little more in depth things, before making any investment, and that is why I was interested in searching a little on the internet.
To simplify things a bit you can say that Metis was also launched as a tool to combat the congestion and high commissions of the Ethereum network, as we all know that in this network the commissions are very high, (CURIOUS FACT: If you want to pay less commission fee in ETH try to operate between December 31 and January 1, because at these dates few will be using the network so the fee will be lower, you will thank me later for this fact LOL).
In addition, it offers several products aimed at developers and users interested in improving the Web3 experience, and from January, will include some more things that will be interesting, and this may give you more value, but the issue of value of the token will be discussed later.
What gave the resent impetus to increase its value?
Time to talk about the crazy explosion of value of the METIS token, whose lowest value was $3.45 and its historical maximum was $323, but before this month of December, the value was around $20, and its uptrend started on December 18 onwards, reaching a maximum of $95, and now it is around $84.
This increase undoubtedly caught the attention of investors and enthusiasts of the crypto world, and among those I was interested to see what was happening in this network. But surely you are wondering what caused this increase in value, well I tell you that this phenomenon arises in response to the announcement of the MetisDAO Foundation on the creation of a significant Ecosystem Development Fund (EDF) with a budget allocation exceeding USD 360 million, will you tell me that this is not interesting?
MetisDAO has demonstrated its commitment to the sustainability and expansion of the METIS network by introducing the Ecosystem Development Fund, although I must admit they had a while without implementing something new or making an exciting announcement like this one, the fund is designed to support and stimulate growth within the platform.
The distribution of the Ecosystem Development Fund is expected to start in the first quarter of 2024, injecting vitality into various projects related to decentralized finance (DeFi), real world assets and companies linked to the non fungible token (NFT) sector which has taken a lot of value in recent times.
Possible METIS network tokens that revalue for this new year 2024?
But this boom is not limited only to the main token. Projects within the METIS ecosystem, such as MAIA and HERMES PROTOCOL and others, have experienced substantial growth, and this was to be expected as the network is now in constant movement and the secondary tokens of this network that have greater use or use cases, will be affected in a positive way from all this, and those I mentioned are some of the most important in this network, or according to me they are.
The HERMES token: It is one of the main DEX in this METIS network, it has a large amount of users that use it and the value of this token at the moment of writing this is 0. 082$, so this is where I saw a space for an early investment before they start with the distribution of the development funds, because as this is a DEX the value of its native token will increase because the interest in using this DEX will be higher than before, so maybe by the beginning or middle of February this HERMES token will have a higher value than the one it has at this moment.
The HUMMUS token: It has similar characteristics to the one I have described in the previous one, since it is also a DEX very used in this network, and the value of its native token at this moment is 0.038$.
My final opinion on this analysis.
These tokens I really see a revaluation if all the distribution of funds goes well, because at the beginning of this month I am 90% sure that they will rise in value, but I am not an expert so I share this with you so you can give your opinion, for such an increase some factors are present, such as market capitalization, and also the interest in these tokens, the interest in these tokens will soon increase, and market capitalization also when more users realize what the METIS network is promising.
The announcement of the Ecosystem Development Fund has marked a crucial milestone for METIS, attracting the attention of investors and generating a positive impact on the entire ecosystem, and this positive impact is just beginning, as if all goes well, many will have good returns on this network. The planned expansion and focus on key areas such as DeFi, RWA and NFT point to an exciting future for METIS and its associated projects, as it is something of interest to all of us in the Crypto world.
But, it is always important to thoroughly investigate all this before thinking about investing any considerable amount, as I said before I am not an expert, but here I leave this information for you to better analyze these options and if you can leave your personal opinion would be the best.
Merry day to all and I hope you have a happy christmas, because we are a few days away from the end of this year 2023....
Follow me on Twitter.
English is not my native language, so I have used Hive Translator.