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MetisDAO price prediction: Can METIS uptick in 2022?

By Ankish Jain

Edited by Alexandra Pankratyeva

12:09, 15 February 2022

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MetisDAO price prediction: Can METIS uptick in 2022? – Photo: Shutterstock

Despite the leading position among blockchains for building decentralised applications (dApps), Ethereum is often blamed for high gas fees and insufficient throughput.  

MetisDAO (METIS) is an Ethereum Layer 2 rollup platform. It aims to address Ethereum's transaction speeds, cost, scalability and affordable storage.

It’s native token, METIS, has been highly volatile since the start of the year. The METIS crypto price reached its all-time high of $323 on 16 January 2022. The retracement sent it to $102.75 on 31 January, according to CoinMarketCap. Although the token has regained some of its losses, it is still trading more than 50% below its peak (as of 15 February).

Can the METIS token price rebound and test new highs in 2022? Let’s take a look at the project’s fundamentals and development to get a clearer view of a metisDAO price prediction.

MetisDAO (METIS) price prediction

What is MetisDAO?

Metis is a Layer 2 scaling protocol for Ethereum applications that allows faster and cheaper transactions. It also facilitates the creation of a scalable and multipurpose framework for apps and businesses transitioning from Web 2.0 to Web 3.0

Layer 2 refers to protocols that aid in application scalability by processing transactions outside the Ethereum Mainnet (layer 1) while preserving the mainnet's security and decentralisation.

Metis aims to make developing decentralised applications (dApps) and decentralised autonomous companies (DACs) on its platform easy and straightforward, especially for blockchain novices.

The platform has various use cases: supporting users to build their own NFT minting and trading business, yield farming, launchpad, decentralised exchange (DEX), investment business or their own token. Metis is well-suited for powering the sharing economy through dApps that offer affordable and speedy micropayments.

“At Metis, we believe the future lies in the decentralised, autonomous management of day-to-day operations in a decentralised organisation called a Decentralised Autonomous Company (DAC): a system entity that supports an organisation’s day-to-day operations, including those of large scale enterprises,” said Metis in its whitepaper.

Elena Sinelnikova, co-founder and CEO of Metis, explained her vision of a DAC in a tweet:

Metis is focused on the ecosystem's overall speed and security. It employs sequencers and L2 Rangers. These rangers work as paid auditors to ensure that transactions and withdrawals on and from its Layer 2 solution are swift and secure.

METIS is the network's native utility token. It performs three critical services inside Metis' L2 platform: transaction fees, staking and rewards.

MetisDAO news and price drivers

The project has undergone a number of significant milestones and developments lately, which may drive the METIS coin value.

Strategic Partnership with Tristan metaverse

Metis Labs, a member of the Genesi DAC venture capital investor network, announced a strategic alliance with Tristan Metaverse in January 2022. 

Tristan Metaverse is a social media-enabled, open metaverse centred on planetary systems that offers a unique gaming experience to Web 3.0 users.

According to the official statement, this relationship will benefit the Metis ecosystem's advancement, community design and engagement through the Metis open protocol for DApp deployment and development.

“Metis is an answer to what Layer 2 is lacking. It is shaping up to be an ecosystem capable of filling the colossal void in the Layer 2 marketplace that we want to take part in. Tristan’s focus is to make crypto gaming mainstream. The aim is to lower the barrier of entry to the GameFi revolution and build an ecosystem where players and creators get rewarded and ultimately, have fun,” said Tristan CEO Frank L. 

Partnership with PAID Network

Metis partnered with PAID Network in June 2021 to develop the Apollo-X IDO platform and the Ignition launchpad swapping protocol on Metis' Layer 2 infrastructure, resulting in decreased gas prices, higher transaction speeds, and expandable functionality.

Additionally, PAID joined the Metis ecosystem development programme and offered investment, money, technical expertise and launchpad assistance for companies operating in the Metis Layer 2 ecosystem.

Kyle Chasse, CEO of PAID Network, said: “Metis’ Layer 2 solution, called the Metis Rollup, makes building and running dApps much cheaper and much more efficient, while providing far greater scalability and a higher level of functionality than Ethereum alone can offer. Metis’ Layer 2 solution will allow us to scale Apollo-X and Ignition even further and provide a more cost-effective and efficient user experience for both communities.”

Strategic Partnership with PARSIQ

Metis established a strategic partnership with PARSIQ in June 2021 to develop DeFi functionalities and infrastructure partners ahead of its Beta testnet launch.

DOGE/USD

0.13 Price
-0.590% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

BTC/USD

65,745.55 Price
-0.250% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

XRP/USD

0.60 Price
-0.050% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

ETH/USD

3,436.88 Price
-1.430% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

PARSIQ is a blockchain monitoring and workflow automation platform that acts as a multi-tiered connection point between blockchains and off-chain applications.

Metis' ecosystem benefited from PARSIQ's data stream processing solution, enabling projects built on Metis Layer 2 to benefit from real-time data verification, enhanced market activity analytic, and extra security features required for DeFi projects.

PARSIQ-supported applications benefited from the huge throughput, capabilities, expandability, and simplicity of use improvements provided by the Metis Layer 2 rollup over Ethereum Layer 1.

Collaboration with OpenDeFi

In June 2021, Metis secured a partnership with OpenDeFi just before its testnet's debut. OpenDeFi tokenises physical assets and then provides decentralised financial services on top of them. OpenDeFi's mission is to establish and support DeFi-related initiatives, to empower DeFi marketplaces across a broad variety of digital asset classes.

This collaboration helped OpenDeFi in its aim of supporting a broader range of digital asset types. Metis and OpenDeFi seek to link institutional money with the DeFi world.

METIS/USD price analysis

According to ICO Drops, the METIS token's initial coin offering (ICO) ended on 13 May 2021 at $5. Based on the earliest available price data from CoinMarketCap, METIS reached $14.8 on 13 May, immediately after its launch. 

However, the rally was short-lived. METIS reached its all-time low of $3.29 on 23 May. METIS turned bullish and gained more than 133% to reach $7.68 on 20 June before collapsing to $3.96 on 18 August.

Further, a leg of the bull run lasted between August and September. METIS token climbed 1,484% to reach $62.74 on 10 September. It then fell to $31.27 on 22 September, a decline of more than 50%.

The price action turned bullish and METIS reached $115.72 on 26 November before collapsing to its 90-day low of $47.75 on 14 December. It closed the year much higher at $253.31.

During the onset of 2022, the market climate for METIS was bullish, and the token reached an all-time high of $323 on 16 January. However, the rally didn’t sustain. At the time of writing (15 February), METIS was trading at $146.16, more than 50% below its peak, with a market capitalisation of $341m.

MetisDAO (METIS) all-time performance

MetisDAO (METIS) price prediction: Targets for 2022, 2025 and 2030

According to CoinCodex’s technical analysis, short-term sentiment for the coin was bullish, with 19 indicators showing bullish signals and four bearish, as of 15 February 2022. 

All the daily weekly simple moving averages (SMA) and exponential moving averages (EMA) (except for the SMA 50 and EMA 50) gave ‘buy’ signals. The Hull moving average (HMA) was also bullish.

The stochastic RSI (stoch RSI) and volume-weighted moving averages (VWMA) gave ‘sell’ signals. The moving average convergence divergence (MACD), Williams percentage range, average directional index (ADX) and relative strength index (RSI) were neutral.

The METIS price prediction from CoinCodex suggested the price could rise by 79.60% to $254.67 by 20 February 2022.

Speculating on the METIS crypto price, algorithm-based forecasters shared bullish long-term metisDAO predictions as of 15 February:

  • According to Wallet Investor, the coin’s average price could reach $375.11 by the end of 2022 and surge to $1,245.81 by 2025. The five-year METIS prediction indicated that it could reach $1,565.7 in February 2027.

  • METIS crypto price prediction from Digital Coin suggested the average price in 2022 could be $193.80, moving up to $216.30 in 2023, $300.99 in 2025 and $672.72 in 2030.

  • Similarly, Price Prediction's metisDAO coin price prediction estimated the average METIS price could reach $168.29 in 2022, $547.25 in 2025 and hit $3,278.75 in 2030. 

When looking for METIS coin price predictions, bear in mind that analysts’ and algorithm-based targets can be wrong. These metosDAO crypto priece predictions are based on fundamental and technical studies of the token’s past performance. Past performance is no guarantee of future results.

It’s essential to do your research and always remember your decision to trade depends on your attitude to risk, your expertise in the market, the spread of your investment portfolio and how comfortable you feel about losing money. You should never invest money that you cannot afford to lose.

FAQs

Is metisDAO a good investment?

MetisDAO has emerged as a Layer 2 Ethereum scaling solution, enabling the development of a highly scalable protocol for next-generation decentralised applications (dApps). The blockchain platform has formed numerous partnerships and launched new products lately, which could bode well for its further adoption. However, its price action has been extremely volatile since the start of 2022.

Whether the coin is a good fit for your investment portfolio depends on your circumstances and risk tolerance. You should estimate the level of risk you are ready to take before investing. And never invest money that you cannot afford to lose.

How high can the metis coin go?

According to the METIS/USD forecast from Price Prediction (as of 15 February 2022), it could go as high as $5,530.29 in 2031. Note that algorithm-based price targets can prove to be wrong.

Will metisDAO (METIS) hit $1,000?

Algorithmic forecasting services, including Wallet Investor, Digital Coin and Price Prediction (as of 15  February), suggested the coin had potential for gains. Price Prediction estimated the METIS token could exceed $1,000 by 2027.

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