Metis token (METIS) dwindle on report of BitMart listing, plunge -5%

Key Takeaways;

METIS price fall -6% on Monday after BitMart announced to list token.
Metis token to go live on BitMart on Wednesday.
Metis working on unique layer 2 framework for migration from Web 2 to Web 3.

LAGOS (CoinChapter.com): No doubt, over the past seven days, Metis token (METIS) has been one of the best performing coins in the altcoin market, recording a 54% price surge. This comes at a time when Bitcoin and other top altcoins are on recess.

However, over the past 24 hours, the coin has joined many others to decline and surge slightly amidst high volatility that followed an announcement by BitMart exchange that it would list the coin on its platform.

BitMart to list Metis token

Volatility began to play hard on METIS after a report by top crypto exchange, BitMart that it would list the token.

BitMart, in a statement on its website, said that METIS would go live on its platform on Wednesday, 19th Jan, while deposits began on Monday, shortly before its announcement and withdrawal would start 24 hours after the coin goes live on BitMart.

However, a coin that has surged by over 50% over the week began to fall and pick up slightly after the exchange’s announcement.

After tapping $318 on Sunday, METIS began to plunge on Monday. It dipped as low as $262 after BitMart made the announcement.

METIS price plunge since Monday after BitMart announcement. Source; TradingView.com

Despite plunging, METIS on a rollercoaster

Metis is building Metis Rollup, an easy-to-use, highly scalable, low-cost, and fully functional Layer 2 framework. The L2 framework is designed to support the application and business migration from Web2 to Web3.

It is a scalable protocol that currently supports numerous use cases, including DeFi platforms, nonfungible token (NFT) marketplaces, open-source developer communities, freelancer communities, crowdfunding, yield farming, and more.

METIS has been trending since, thanks to the latest milestone achieved by the team. The Metis Token team announced that it had reached a TVL of $500 million, roughly eight weeks after launching its Andromeda Layer 2 network.

At press time, METIS is trading at $300, up by -6.1% in the last 24 hours. The METIS/USD daily chart continues to indicate a further decline.