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Soaring 350% in two weeks, what are the driving factors for Metis’s surge?

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In just two weeks, METIS prices surged 350%.

The original author: @ardizor

Original translation: Luccy, BlockBeats

Editor's note:

The Layer 2 project Metis, born in the previous cycle, has continued to gain popularity in the ecosystem, attracting market attention and being regarded by many as a project supported by "V God" mother. On January 2, according to OKX market data, METIS briefly touched $98, up more than 29% in 24 hours, and ranked high on the Smart Money 24-hour inflow list.

Crypto researcher @ardizor discussed the potential of Metis in shaping the L2 narrative on social media, pointing out that Metis combines the functionality of optimistic Rollup with the use of ZK proof, making it a leader in the Rollup field. He also listed several factors that he sees as bullish for Metis and projects in its ecosystem worth paying attention to. BlockBeats translated the original article as follows:

Within just two weeks, METIS saw a 350% surge in price. I discovered the potential of Metis in shaping L2 narratives.

Metis Introduction

Metis is an Ethereum L2 rollup platform that aims to provide low gas fees, fast transactions, native storage, and high security. It combines the scalability of Optimistic Rollups with the security of ZKrollups.

Some key statistics about Metis:

· Circulating Supply: 4.73 million (47%)

· Maximum supply: 10 million

· Market Cap: 445 million US dollars

· FDV: $907 million

· Target lock-in value: $106 million.

The price of METIS token has surged from $20 to $90, a 350% increase in just two weeks.

Metis Famous Investor List:

· Waterdrip Capital

· Cryptomeria Capital

· AC Capital

· Chain Capital

· Kernel Capital

Metis's competitors:

· Optimism Market Cap: 3.36 billion; FDV: 15.8 billion; Target Locked Value: 908 million US dollars.

· Arbitrum Market Cap: 1.9 billion; FDV: 15 billion; TVL: 2.4 billion.

· Mantle Market Cap: 2 billion; FDV: 4.1 billion; Target Locked Value: 1.24 USD

Based on these numbers, Metis seems to be the best choice.

In May of this year, the Metis team released a roadmap that includes three major innovations: anti-fraud, hybrid rollup, and decentralized sorter.

Metis is preparing to launch a "Sorter Pool" in January, making it the first decentralized sorter rollup. This strengthens the overall decentralization of Rollup and eliminates a central risk point.

Additionally, it seems that the Sorter rewards will be allocated to METIS holders/stakers. The Sorter pool's testnet is scheduled to launch on January 3rd.

Metis EDF

Get ready, because Metis will start distributing $4.6 million worth of METIS (33 million USD) grants to dapps built on Rollup starting from January.

Why?

Because history has shown that such incentive plans greatly accelerate the development of the ecosystem.

In 2021, Avalanche announced "Avalanche Rush" and launched a $180 million ecosystem incentive plan. In just 90 days, the value of $AVAX skyrocketed from $20 to $160, and its TVL increased from $200 million to about $11 billion. BNB and Polygon experienced similar growth in terms of users and liquidity.

我为什么相信 Metis 的成功

Why I Believe in the Success of Metis

Metis is a leader in the Rollup field, as it combines the functionality of optimistic Rollup with the utilization of ZK proofs. Compared to ZK-rollups, this unique combination makes Metis more EVM compatible and cost-effective.

Considering factors such as MetisEDF, decentralized sorters, and low market value projects, it is expected that the Metis ecosystem will recover in the coming months. Although the chain has clearly been developed for a long time, we may still be in the early stages.

Here are some other bullish factors to consider:

· There will be no more token unlocks.

· The remaining supply will be mined over the next 9 years.