Vitalik Buterin's Mother's Token METIS Skyrockets 36% in Epic Ethereum Rally

U.Right this moment – In a noteworthy improvement, Metis token, related to MetisDAO and led by Natalia Ameline, mom of founder , has skilled a big 36% surge previously 24 hours, reaching the $39 per token mark through the ongoing Ethereum rally.

CoinMarketCap’s current layer-2 sector token locations Metis in eighth place, with a capitalization of $168.55 million. The token has demonstrated superior efficiency within the final 24 hours and a powerful 106% improve within the final 30 days, positioning itself as a standout performer within the Metis ecosystem.

METIS to USD by The surge within the Metis value could be attributed to the announcement of the creation of a $100 million initiative geared toward supporting the expansion of the Metis ecosystem.

Scheduled for distribution within the first quarter of 2024, the fund will facilitate sequencer mining, retroactive funding and the event of recent tasks, fostering a community-driven method managed by the MetisDAO Basis and token holders.

What’s Metis?

Metis stands out within the layer-2 panorama as a consequence of its environment friendly use of Optimistic Rollups, facilitating fast and cost-effective transactions on the blockchain by consolidating a number of transactions right into a single batch.

A particular characteristic of Metis lies in its storage technique. Whereas conventional layer-1 options retailer transaction knowledge on-chain, adopts off-chain storage, using Memo Labs storage by the Sequencer. This not solely ensures streamlined knowledge administration but additionally considerably reduces storage prices in comparison with Ethereum’s layer 1.

This text was initially revealed on U.Right this moment