The native token of layer 2 scaling solution Metis, METIS, surged 50% in the last 24 hours following the announcement of a large grant fund aimed at expanding its ecosystem. The price spike comes amidst growing enthusiasm around the network’s ability to enable faster and cheaper transactions on Ethereum.
Keypoints
- Metis (METIS) token surged 50% in 24 hours following grant announcement, extending 30-day gains to over 240%
- Metis is a layer 2 scaling solution for Ethereum, allowing faster and cheaper transactions
- MetisDAO Foundation unveiled a $360 million Ecosystem Development Fund to boost projects on Metis
- Some liquidity pools on Metis offer up to 200% in annualized fee rewards currently
- Ecosystem projects like Maia, Hermes, and Tethys saw significant increases in token prices and activity
Metis operates as a sidechain to Ethereum, offering users the ability to transfer assets and execute complex transactions with…
