METIS Price Prediction | The Most Undervaluad Token of 2022?

Key Takeaways

  • METIS is a layer 2 blockchain
  • METIS is a 10x from todays price back to ATH
  • METIS helps solve Ethereums scalability issues

What Is Metis?

METIS is an EVM compatible layer 2 blockchain built for its decentralization, scalability and fast transaction speeds. METIS helps the Ethereum blockchain by bundling up transactions and taking them off chain to process before returning them back to the Ethereum Network.

While the Ethereum network processes 10-15 transactions per second METIS is capable of processing upwards of thousands per second. Not only that but transactions on METIS cost just a fraction of what transactions on Ethereum do.

Most layer 2s are built purely to help Ethereum scale however METIS is building itself an entire ecosystem. This is where METIS stands apart from all the layer 2s. 

In a lot of cases if Ethereum solves its scalability issues most layer 2s will become obsolete, this is not the case for METIS due to the extensive ecosystem they have built around the chain.

The Road Back To ATH

At the time of writing this the METIS token is sitting as a $111 million market cap with a token price of $25, which in comparison to other layer 2s and a lot of layer 1s this seems quite undervalued.

METIS has an ATH (All time high) of $300 which would place METIS as a bit over a 10x return on your money if the token reclaims its ATH we experienced during the 2020 bullrun.

One metric that really caught my eye while looking into METIS was the Mcap/TVL ratio. This is a metric used when analyzing chains and DeFi protocols that shows the TVL (total value locked) in comparison to the market cap of the network.

At the time of writing this METIS has a Mcap/TVL of just 1.7 which is definitely on the lower end. During the bull run this was at just 0.8 which is very good. This shows us that there is a very large amount of money locked on the network in comparison to the value of the chain, hence in a way showing that the chain is undervalued.

So what is our METIS price prediction 2022?

The number one thing I always look at first when investing during a bear market is can the project afford to maintain operations until the market has some upside again? Does the project have income streams? Do they have much money in the treasury?

If a project can not afford to pay server costs, employee wages etc for a couple of years then chances are the project will not survive until the next bull run.

Another point to keep in mind is what are tokenomics like? Do they make sense? Do VC’s own a large % of the supply? Are tokens vested?

Lucky for us Coingecko has recently implemented a tokenomics feature where we can view a breakdown of a token's tokenomics.

In METIS case the tokenomics look decent, with only 13.4% controlled by private investors and 11.5% controlled by seed investors. As far as crypto goes these % are fairly low. From my understanding the tokens are also vested however I could not find for how long.

Through funding rounds METIS has raised $5,050,000 which is quite a substantial amount. How much of this they have left in their treasury I’m not sure. However with over 70 projects in the pipeline to be onboarded on to the network I am assuming they will be generating some sort of income form this.

I am expecting METIS to survive till the next bull run so my prediction is that METIS will reclaim its ATH of $314. 

Why METIS need to exist?

If you were around in the 2020 bull run then you would have noticed and most likely experienced Ethereum congestion and rapidly rising gas fees and slowing transaction speeds.

With gas fees reaching right up into the hundreds of dollars per transaction the Ethereum network was becoming damn near unusable, this was caused in large part by the booming NFT ecosystem that Ethereum had developed.

Imagine having tens of thousands, sometimes even hundreds of thousands of people all trying to mint and NFT from one contract at the same time….

Now imagine all the bots trying to do so as well….

This caused crazy amounts of congestion on the Ethereum network and the network just couldn’t handle the traffic. This is where layer 2s come in such as Polygon and the subject of today's discussion METIS.

As long as Ethereum has congestion issues and faces these large volumes of traffic then layer 2s such as METIS will have a place in the market. Now you may be wondering but what if Ethereum solves its issues and can reduce transaction fees and increase transaction speeds? Would this make METIS unneeded?

This is where METIS is slightly different from a lot of the layer 2 networks that have been released. In the case of METIS they have actually developed a fairly in-depth and flourishing ecosystem based around the network. In my opinion this is what will keep the chain relevant IF Ethereum can solve the scalability issues, that is a big IF.

The METIS ecosystem

Unlike a lot of layer 2s METIS has a booming ecosystem which really makes it stand out in the L2 landscape.

Due to its scalability, low transaction fees and fast transaction speeds METIS is perfect for NFTs, crypto gaming and DeFi protocols. In the early days of METIS the TVL (total value locked) quickly ran up to $480 million dollars making it the second biggest L2 network by TVL.

The METIS ecosystem has dozens of protocols of DEXs currently running with a supposed 70+ projects in the pipeline to migrate over.

Conclusion

While most are focusing on the battle of the layer 1s we can see that people should also be focusing on layer 2 options especially the lower market caps chains such as METIS. 

IF the crypto market returns to its previous ATHs there is a good chance that METIS will reclaim its ATH of $25 which is a juicy 10x from todays price.

With a flourishing ecosystem METIS is definitely one to keep an eye on, as always do your own research.

Key Takeaways

  • METIS is a layer 2 blockchain
  • METIS is a 10x from todays price back to ATH
  • METIS helps solve Ethereums scalability issues

What Is Metis?

METIS is an EVM compatible layer 2 blockchain built for its decentralization, scalability and fast transaction speeds. METIS helps the Ethereum blockchain by bundling up transactions and taking them off chain to process before returning them back to the Ethereum Network.

While the Ethereum network processes 10-15 transactions per second METIS is capable of processing upwards of thousands per second. Not only that but transactions on METIS cost just a fraction of what transactions on Ethereum do.

Most layer 2s are built purely to help Ethereum scale however METIS is building itself an entire ecosystem. This is where METIS stands apart from all the layer 2s. 

In a lot of cases if Ethereum solves its scalability issues most layer 2s will become obsolete, this is not the case for METIS due to the extensive ecosystem they have built around the chain.

The Road Back To ATH

At the time of writing this the METIS token is sitting as a $111 million market cap with a token price of $25, which in comparison to other layer 2s and a lot of layer 1s this seems quite undervalued.

METIS has an ATH (All time high) of $300 which would place METIS as a bit over a 10x return on your money if the token reclaims its ATH we experienced during the 2020 bullrun.

One metric that really caught my eye while looking into METIS was the Mcap/TVL ratio. This is a metric used when analyzing chains and DeFi protocols that shows the TVL (total value locked) in comparison to the market cap of the network.

At the time of writing this METIS has a Mcap/TVL of just 1.7 which is definitely on the lower end. During the bull run this was at just 0.8 which is very good. This shows us that there is a very large amount of money locked on the network in comparison to the value of the chain, hence in a way showing that the chain is undervalued.

So what is our METIS price prediction 2022?

The number one thing I always look at first when investing during a bear market is can the project afford to maintain operations until the market has some upside again? Does the project have income streams? Do they have much money in the treasury?

If a project can not afford to pay server costs, employee wages etc for a couple of years then chances are the project will not survive until the next bull run.

Another point to keep in mind is what are tokenomics like? Do they make sense? Do VC’s own a large % of the supply? Are tokens vested?

Lucky for us Coingecko has recently implemented a tokenomics feature where we can view a breakdown of a token's tokenomics.

In METIS case the tokenomics look decent, with only 13.4% controlled by private investors and 11.5% controlled by seed investors. As far as crypto goes these % are fairly low. From my understanding the tokens are also vested however I could not find for how long.

Through funding rounds METIS has raised $5,050,000 which is quite a substantial amount. How much of this they have left in their treasury I’m not sure. However with over 70 projects in the pipeline to be onboarded on to the network I am assuming they will be generating some sort of income form this.

I am expecting METIS to survive till the next bull run so my prediction is that METIS will reclaim its ATH of $314. 

Why METIS need to exist?

If you were around in the 2020 bull run then you would have noticed and most likely experienced Ethereum congestion and rapidly rising gas fees and slowing transaction speeds.

With gas fees reaching right up into the hundreds of dollars per transaction the Ethereum network was becoming damn near unusable, this was caused in large part by the booming NFT ecosystem that Ethereum had developed.

Imagine having tens of thousands, sometimes even hundreds of thousands of people all trying to mint and NFT from one contract at the same time….

Now imagine all the bots trying to do so as well….

This caused crazy amounts of congestion on the Ethereum network and the network just couldn’t handle the traffic. This is where layer 2s come in such as Polygon and the subject of today's discussion METIS.

As long as Ethereum has congestion issues and faces these large volumes of traffic then layer 2s such as METIS will have a place in the market. Now you may be wondering but what if Ethereum solves its issues and can reduce transaction fees and increase transaction speeds? Would this make METIS unneeded?

This is where METIS is slightly different from a lot of the layer 2 networks that have been released. In the case of METIS they have actually developed a fairly in-depth and flourishing ecosystem based around the network. In my opinion this is what will keep the chain relevant IF Ethereum can solve the scalability issues, that is a big IF.

The METIS ecosystem

Unlike a lot of layer 2s METIS has a booming ecosystem which really makes it stand out in the L2 landscape.

Due to its scalability, low transaction fees and fast transaction speeds METIS is perfect for NFTs, crypto gaming and DeFi protocols. In the early days of METIS the TVL (total value locked) quickly ran up to $480 million dollars making it the second biggest L2 network by TVL.

The METIS ecosystem has dozens of protocols of DEXs currently running with a supposed 70+ projects in the pipeline to migrate over.

Conclusion

While most are focusing on the battle of the layer 1s we can see that people should also be focusing on layer 2 options especially the lower market caps chains such as METIS. 

IF the crypto market returns to its previous ATHs there is a good chance that METIS will reclaim its ATH of $25 which is a juicy 10x from todays price.

With a flourishing ecosystem METIS is definitely one to keep an eye on, as always do your own research.

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