Metis Price Skyrockets After Listing on Binance

Bittime - The crypto world continues to grow rapidly, and one project that has recently caught the attention of investors and crypto enthusiasts is Metis. Metis is a permissionless Layer 2 Ethereum network whose price has skyrocketed, rising 27-30% after it was announced it would be listed on Binance.

Metis is an innovative project that aims to overcome the scalability challenges facing the Ethereum blockchain. Using an “optimistic rollup” architecture, Metis offers a promising solution for faster and more cost-effective transactions, addressing the issues of network congestion and high gas fees on the Ethereum mainnet.

Binance itself is an exchange platform in the crypto industry, with a wide user base and large trading volume. By listing Metis, Binance has introduced the project to more traders and investors, increasing its liquidity and accessibility.

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This listing announcement was greeted with a surge in the price of the METIS token, which rose around 27-30%.

This price increase can be attributed to several factors, including the increased visibility and credibility that comes with listing on Binance, as well as increased market confidence in Layer 2 scaling solutions like Metis.

Interestingly, Binance waived listing fees for Metis, demonstrating their confidence in the potential of this project and in line with their commitment to driving innovation in the crypto space.

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Metis received the “Seed Tag” designation from Binance, indicating its status as an innovative project that may have higher volatility and risk than other listed tokens.

Metis' price spike and listing on Binance coincided with the rise of the crypto market as a whole. Bitcoin, the world's largest cryptocurrency, recently broke its all-time high, topping $71,000, while Ethereum, the second-largest crypto asset, briefly surpassed $4,000.

This bullish market sentiment is further driving momentum around Metis and other promising blockchain projects.

As the decentralized finance (DeFi) ecosystem develops, Layer 2 solutions like Metis will play a critical role in addressing the scalability challenges that have long dogged the Ethereum network.

What is Metis (METIS)?

Metis is a Layer 2 Ethereum rollup platform that offers various advantages, such as low gas fees, fast transactions, internal storage, and high security.

In short, Metis aims to address some of Ethereum's biggest challenges, such as scalability, transaction speed, and high gas fees. Metis wants to build a technical platform that is easy to access and use, making blockchain available to anyone who wants to start or grow a business, dapp (decentralized application), or community with good scalability.

As a Layer 2 rollup platform, Metis is compatible with Layer 1 Ethereum. Metis uses Optimistic Rollup technology that "allows developers to integrate quickly, cheaply, and easily."

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METIS Token Functions

METIS is an ERC-20 governance token compatible with the Ethereum network. The main functions of the METIS token include:

• Pay transaction fees on the Metis network.
• Used as staking for Decentralized Autonomous Companies (DAC) which is tasked with verifying transactions and sending them back to the Ethereum mainnet.
• Used to purchase goods and services on the Metis protocol.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn Complete Guide How to Buy Crypto on Bittime. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

also read:

What is Metis (METIS)?

MetisDAO (METIS): Ethereum Layer 2 Scalability Solution

Metis Protocol Improves Ethereum Network with Advanced Layer 2 Solution

5 Best Rollup Tokens to Buy Before Ethereum Dencun Upgrade

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.