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Ethereum-based altcoin is quietly recovering 122% in five days, while Bitcoin and ETH collapse

An altcoin hidden under the radar that aims to solve several of Ethereum’s Biggest Challenges ETH and Bitcoin (BTC) consist of making massive profits when ETH and Bitcoin (BTC) consolidate in the new year.
The Layer 2 scaling solution Metis Token (METIS) offers lower fees and faster transaction times than Ethereum, while maintaining the security of the leading smart contract platform.

According to the project website

“Outsourcing data and execution to a second layer enables Metis to provide a more scalable and cost-effective environment for building and interacting with Web3 applications.”

The protocol uses optimistic roll-up technology to put its functional goals on a layer above layer 1Blockchain however, relies on this underlying layer for both security and settlement.

METIS, its native token, can be used for staking and internal payments, but also fulfills an important function within the Metis Virtual Machine (MVM) in the creation of a decentralized autonomous company (DAC).

The project explains

“METIS tokens also play a role in reducing spam and instilling trust between developers and users alike. Users need to wager a certain amount of METIS to start collaborating with others on the platform, such as starting a DAC.

These tokens are returned to the first-time users if the collaboration is successful. Unsuccessful collaborations can result in users losing their stake (similar to penalties). Employees are also paid and rewarded for their contributions in METIS. “

METIS price rose 122% December 22-27, working its way down from $ 73.68 All time high (ATH) from $ 164.23 high.

After falling to $ 133.42 earlier this week through some choppy corrective action, the altcoin is back up 18.3% today, hitting a new ATH of $ 175.60. It’s now up 134% in the past seven days.

In contrast, Ethereum has traded unchanged all week, trading at $ 3,762, 18.8% below its monthly high of $ 4,631.

Bitcoin stays under $ 50,000 and is currently priced at $ 47,648.
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Source: Crypto News Deutsch

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