Small-scale altcoins have seen a significant surge in the last quarter of 2023, and MetisDAO (METIS) is among the notable risers. METIS has experienced a 350% price increase in just 15 days, signaling a strong rally. This surge was triggered by the hints of promising updates planned for the year, which have caught the attention of investors and analysts alike.
MetisDAO recently announced exciting plans for 2024, which, coupled with analysts’ predictions of a strong altcoin season, keeps METIS buoyant. This optimism suggests that the current rise could be the precursor to an even larger mega bull run, as the crypto community anticipates further growth.
One of the key developments for MetisDAO was the recent activation of the Ecosystem Development Fund (EDF), which holds over 4.6 million METIS, valued at over $360 million. The EDF is a milestone for the Metis network, aimed at fostering development and adoption within the Metis ecosystem by creating a conducive environment for increased user activity and project participation.
Significant growth has been recorded in projects within the Metis ecosystem, with tokens like Maia’s MAIA and Hermes’ HERMES witnessing impressive rises of 25% and 70%, respectively. These gains highlight the vibrancy and strength of the Metis ecosystem.
Liquidity pools in the ecosystem have also seen substantial yield increases, with annual fee rewards of up to 200% for HERMES and METIS. For those seeking more dynamic trading opportunities, potential rewards can reach up to 350% on certain trading pairs. This has opened the door to significant user interest and participation, contributing to the network’s continuous expansion.
Tethys, Metis ecosystem’s decentralized perpetual trading protocol, stands out as another success story, with over $18 million in transaction volume in the last 24 hours and a 20% price increase in its TETHYS token. These figures indicate a developing and expanding trading environment for MetisDAO.
Metis is part of a group of Layer 2 scaling protocols that offers users faster and more cost-effective transactions on the Ethereum Blockchain. The MetisDAO Foundation, which governs Metis, has implemented the EDF to promote development, increase liquidity, encourage activity, and foster adoption within the Metis ecosystem. MetisDAO has positioned itself as the third-largest DeFi platform in terms of total value locked on the network among all Ethereum Layer 2 competitors in 2023, marking a significant milestone.