The native cryptocurrency Metis and other assets in this ecosystem have shown significant growth after the announcement of grants in the amount of $360 million. According to CoinGecko, the price of Metis (METIS), the main cryptocurrency of the Metis blockchain, increased by 50% in one day. Investors' interest in METIS and other ecosystem tokens increased after the announcement of grants.
Metis is a second-level scaling protocol for Ethereum that allows faster and cheaper transactions, while providing its own tools and projects. Natalia Amelina, the mother of one of the co-founders of the Ethereum ecosystem, Vitalik Buterin, runs the Genesi DAS Foundation, which supports startups on the Metis network and has an amount of $ 100 million.
In mid-December, the MetisDAO development team presented the 4.6 million METIS Ecosystem Development Fund (EDF) in order to stimulate projects and activity in the Metis ecosystem.
At the time of the grant announcement, the Metis token was trading at a price of about $22. By December 26, the price of this asset had risen to $79, which is estimated at a total of about $360 million. It is expected that payments to the projects will begin in the first quarter of 2024.
Over the past week, the price of the network's native cryptocurrency has increased by 177%. Some tokens of projects in the ecosystem have also more than doubled: MAIA has risen in price by 116%, HERMES by 263%, and TETHYS by 163%. The BARSIK memcoin, which was launched on December 21, showed a price increase of thousands of percent.
