Exploring the Surging Value and Potential of Metis Crypto

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5 Apr 2024

In case you didn’t hear about METIS in the previous cycle, the token definitely caught your eye in Q4 of 2023. After all, this is when the Metis crypto increased in value by more than 600% in just 74 days. However, despite this impressive run, $METIS is still rather far from its all-time high (ATH). Plus, it also has a relatively low market cap. As such, there’s still more upside potential for this hybrid scaling solution project. And this article will help you determine whether or not the METIS token has what it takes to realize that potential.

As we dive into today’s article, we’ll first make sure you all know what the Metis crypto is. This is where we’ll start with the basics and then dive into the specifics of this blockchain project. As such, you’ll learn what problem Metis aims to solve, how it works, and more.

However, as altcoin investors, we are mainly interested in the METIS token. Hence, we’ll look at the asset’s purpose, use cases, and tokenomics next. Then, we’ll shift our attention to the token’s price action. As such, we’ll cover the entire path that the asset’s value has covered since its launch. This will enable us to outline the key levels of support and resistance.
Moreover, we’ll also apply the most powerful TA indicator – Money Line – to the $METIS chart, to see what it has to say about the asset’s performance.
Nonetheless, you’ll also learn about the power of Moralis Money’s cryptocurrency analysis sites and how the one dedicated to the METIS token can help you determine if/when to buy this crypto.
Last but not least, we’ll also explain where you can buy the Metis crypto without breaking a sweat or the bank.

What is Metis Crypto?

The Metis crypto is a 2020 blockchain project with a vision to propel the world towards an open, fair, and decentralized economy. At its core, Metis serves as a decentralized platform. As such, it is designed to empower businesses and communities, ranging from startups to enterprises, enabling them to build, operate, and flourish in a decentralized environment.
Moreover, the project’s mission is also rooted in fostering decentralization. This is reflected in Metis’ commitment to offering a platform that accommodates a diverse range of users seeking to harness the benefits of blockchain technology.

What Problem Does Metis Aim to Solve?

Metis addresses the critical challenges faced by blockchain networks, particularly in terms of scalability, security, and usability. The project acknowledges the limitations of existing solutions and endeavors to overcome issues such as transaction finality delays, high gas fees, and potential centralization risks.
The Metis crypto project aims to tackle the scalability issue by introducing a hybrid rollup model. With this hybrid approach, Metis aims to strike a balance between the computational efficiency of optimistic rollups and the cryptographic robustness of zero-knowledge rollups. With this balance of the two popular scaling technologies, the project wishes to offer a comprehensive solution for decentralized applications.

How Does the Metis Crypto Work?

The Metis crypto network operates as a Layer 2 scaling solution for Ethereum. As mentioned above, it is leveraging a combination of innovative rollup technologies to enhance scalability without compromising security.
The project introduces a unique hybrid rollup design that combines the strengths of zero-knowledge rollups (ZKRs) and optimistic rollups (ORs). This integration aims to optimize Ethereum’s transaction landscape by ensuring EVM compatibility, enhancing security through validity proofs, and expediting transaction confirmations using zero-knowledge proofs.
Moreover, the architecture includes a decentralized sequencer pool, providing stability and security by distributing responsibilities among multiple sequencers. To explore the technical aspects of Metis further, make sure to dive into the project’s tech whitepaper:

The Metis Company and Team

Metis seems to have a dedicated and experienced team committed to realizing the project’s vision. Co-founded by Elena S., Kevin L., and Yuan S., each bringing unique expertise to the table, the team includes professionals in decentralized coordination, product development, and technology leadership.
The company emphasizes community involvement and aims to decentralize its sequencer pool, enhancing security by mitigating the risks associated with a single point of failure. Metis’ commitment to transparency and decentralization extends to its governance structure. After all, the project plans to implement a new governance system incorporating reputation tokens and innovative decision-making processes.
To explore all the leading roles of the Metis team, the company’s investors, and the existing Metis ecosystem, use the above-outlined project’s official website.

What is the METIS Token?

The METIS token lies at the heart of the Metis ecosystem. It serves as a fundamental element that powers transactions and incentivizes network participants. Designed on the Ethereum blockchain, METIS operates as the native utility token, facilitating various functions within the Metis platform.

METIS’ Use Case and Purpose

METIS finds utility primarily in transaction fees, acting as the fuel that powers activities on the Metis network. So, users engaging in transactions, whether for deploying smart contracts or conducting decentralized applications (dapps), utilize METIS to pay for associated fees.
As such, the token serves as a vital component in the decentralized economy fostered by Metis. Thus, the token aligns with the project’s mission to create an open and fair environment for businesses and communities.

The METIS Token’s Tokenomics

Metis promises to employ a robust tokenomics model to ensure the sustainability and growth of the ecosystem. A distinctive feature is the mechanism where 30% of the gas paid in transactions is returned to the protocols building on the Metis network.
This mechanism incentivizes developers and projects to actively contribute to the Metis ecosystem, fostering growth and innovation. Additionally, the METIS token plays a role in encouraging decentralization among sequencers. By staking METIS, sequencers prove their financial honesty and contribute to the project’s resilience against centralization risks.
Here’s the gist of the METIS tokenomics:

Token’s on-chain name: Metis Token
Symbol/ticker: METIS or $METIS
Networks: Ethereum and Metis Andromeda
Token type: ERC20 (on Ethereum), native coin (on Metis Andromeda)
Smart contract address: 0x9e32b13ce7f2e80a01932b42553652e053d6ed8e (on Ethereum), 0xdeaddeaddeaddeaddeaddeaddeaddeaddead0000 (on Metis Andromeda)
Minting timestamp: December 12, 2020, at 12:49:27 AM (+UTC)
Total supply: 10,000,000 $METIS

At the time of writing, approximately 45.7% of the token’s total supply is in circulation. This further elevates the scarcity aspect of $METIS, which already has a very low total supply. However, a closer look at the Metis crypto’s smart contract tells us that the token includes the “mintable” function. As such, if the Metis team decides to mint additional instances of $METIS, it can do so.
As far as the token’s distribution goes, the crypto bubblemaps on Moralis Money’s $METIS token page tell us that no wallet holds more than 0.53% of the token’s total supply. We can also see that the majority of the asset’s supply is in the hands of four smart contracts controlled by the Metis project:
Note: You can explore the above-outlined bubble chart on the Moralis Money $METIS page. The link to that page awaits you in one of the upcoming sections.

METIS Token Price

$METIS started to trade on May 13, 2021, at $5.5. The token more than tripled in price during its first week, reaching as high as $18. But the price didn’t stay at those levels during the upcoming weeks. In fact, the asset’s all-time low (ATL) came in during the second week of trading at $3.291.
Between the listing and mid-August 2021, $METIS was mainly bound in the $4-$7.2 range. However, on August 19, the token started its largest rally so far, which eventually led to the asset’s all-time high (ATH). Of course, this 150-day rally didn’t happen in a straight line; instead, it had several stages of upward action, pullback, and consolidation.
The first stage, between August 19 and September 8, 2021, increased METIS’s price by more than 1,500% in just 21 days. After reaching $64, the coin experienced a correction of approximately 52%, bouncing off of the $30 support line on September 22.
The next stage of the rally took $METIS to $115.7 by November 25, 2021. But there were two 30% pullbacks during that stage as well. However, starting on November 6, the token took a heavy dump, losing nearly 60% of its value in just 18 days.
Still, even after such a massive correction, $METIS was sitting above 47$, from where the final stage started. That one took the Metis crypto to its current ATH at $322 in just 33 days, which was set on January 16, 2022. And even this 580% run also had one 40% correction between December 31, 2021, and January 8, 2022.

$METIS Price During the 2022-2023 Bear Market & Correction

After its ATH, the METIS token entered a bearish season with the rest of the crypto market. In less than 150 days, the asset lost more than 95% of its value. So, it was back to $14 by June 18, 2022. From there, the token experienced a 250%-plus relief rally, going back towards $50. However, just cents below that level, $METIS lost its momentum and returned to its previous low, finding support around $16 by the end of 2022.
As the rest of the crypto market started to recover at the beginning of 2023, so did METIS. Its price climbed to $44 by February 17, 2023; however, it got rejected at that level. This rejection finally led to the asset’s final capitulation phase, reaching as low as $10.3 on September 17, 2023.
So, $METIS lost about 97% of its ATH price in January 2022 by September 2023. That’s what bear seasons tend to do to many altcoins.
However, as Bitcoin established new local heights and pulled most of the crypto markets up with it, $METIS entered a massive rally. In just 99 days, the token’s price increased by approximately 700%, touching the $83 level on December 26, 2023.
At the time of writing, the METIS token is trading at around $74.

TA and Money Line

Using the basics of technical analysis (TA), we charted the key levels of support and resistance on the above METIS chart. Moreover, on that chart, you can see some other popular indicators, such as trading volume and RSI.
According to these TA basics, you can see that $METIS looks rather strong, with the most likely short-term target around $107. However, given the recent rally, the asset could easily experience a noticeable correction before moving higher. In case that scenario were to play out, a retest of $56 or even $45-$40 levels would be highly likely.
Nonetheless, the most powerful TA indicator – Money Line – is still indicating a strong bullish momentum for $METIS on both weekly and daily timeframes:
Note: If you wish to get your hands on this ultimate crypto charting tool, make sure to opt in for Moralis Money’s Pro or Starter plan. And to learn how to make the most of the Money Line indicator, make sure to follow the “Money Line” link in the introduction of today’s article.

Should I Buy Metis Crypto?

Using the above sections, you should be able to get acquainted with the Metis crypto project and its native token. As such, you should easily decide whether or not you find METIS interesting enough it even consider investing in it or trading it. If so, then you need to properly DYOR the asset.
Luckily, you can do so with ease by utilizing Moralis Money’s crypto trading tools, particularly the Moralis Money $METIS token page. On that page, you can find all the resources and tools to dive deeper into the Metis project and its native cryptocurrency. Hence, you’ll be able to answer the above question with confidence.
And if you decide to invest in Metis, you want to make sure that now is a good time to buy. As such, you ought to consider the token’s live price in combination with its real-time on-chain data. By doing so, you’ll be able to confirm that the price is still on top of one of the asset’s key support levels but at the same time already gaining on-chain momentum.
So, follow the above “$METIS” link or use the interactive widget below and decide if/when to buy METIS.

Where to Buy the METIS Token?

If you took a good look at the above-presented page, you probably already noticed the “Buy” button. Well, that button is your gateway to buying $METIS in a decentralized, secure, user-friendly, and affordable manner.
So, if you wish to buy $METIS token, simply click “Buy” and follow the instructions that Moralis Money’s instant crypto swap feature provides you with, starting by connecting your Web3 wallet:

What is the METIS Token? Metis Crypto Live Price & On-Chain Data – Key Takeaways

The Metis crypto project was founded in 2020 and it aims to become the go-to Ethereum scaling solution.
Metis deploys a new hybrid L2 scaling solution that combines the power of optimistic rollups and zero-knowledge rollups.
The METIS token is the project’s native token that was minted on the Ethereum chain in December 2020.
$METIS now lives on Ethereum as well as Metis Andromeda. It can be easily bridged between the two networks.
On the Metis Andromeda chain, METIS serves as the utility token to cover transaction fees.
The METIS price has been through a lot since 2020. It went from as little as $3. to $322, back to $10 and now to $83.
To help you decide if/when to buy $METIS, make sure to use the Moralis Money token page for that asset.
If you decide to get a bag of METIS, you can do so without breaking a sweat or the bank on that page.

Whether you end up buying $METIS or not, keep in mind that many other altcoins deserve your attention. After all, to catch those 50x-plus tokens, you typically need to have several low- or mid-cap alts in your portfolio. As such, it’s important to pick your candidates using the best crypto analysis tools.
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