Last updated: December 26, 2023 03:46 EST . 2 min read Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.
METIS Price SurgeMETIS Price SurgeSource: iStock

METIS, the native cryptocurrency of the layer 2 network Metis, experienced a surge of up to 50 in the past 24 hours, driven by the buzz surrounding a recently revealed grant that is making rounds in the crypto community.

In mid-December, the MetisDAO Foundation, responsible for the development of the Metis network, announced the establishment of an Ecosystem Development Fund (EDF). This fund, consisting of over $360 million (4.6 million METIS), is designed to support and foster development, liquidity, activity, and adoption within the Metis ecosystem.

The launch of EDF reflects the foundation’s commitment to the growth and sustainability of the Metis network. The grant, widely discussed within crypto circles, is reportedly coming to MetisDAO for their decentralized sequencer launch in January and has captivated investors, leading to a surge in METIS value.