What lies ahead of Metaverse (ETP) token, dubbed as the Ethereum of China?

What lies ahead of Metaverse (ETP) token, dubbed as the Ethereum of China?
Metaverse (ETP) token has failed to capitalize on its name. Credit: Metaverse

Key Takeaways

  • ETP, the natice token of Metaverse blockchain has been having tough times on the charts
  • Dubbed as the Chinese Ethereum, Metaverse (ETP) hit an all-time high of $6.24 in 2017h

YEREVAN (CoinChapter.com)- Metaverse (ETP) token is perhaps one of the least talked about blockchains out there. Dubbed by some as the Ethereum of China, the project hopes to revolutionize both the traditional financial systems as well as the blockchain technology itself. 

It is one of the first public Blockchains in China and has been operating for four years. Registered back in 2017, the company took the name Metaverse much before the recent Facebook name change made the term popular. 

 “Our Mission is to drive blockchain technology adoption by building developer-friendly tools as well as easy-to-use user interfaces so that non-technical users are equally empowered to use this disruptive technology in both their business and daily life.” 

 the platform’s website reads.

In effect, Metaverse has developed a financial system that evolves around a person’s digital identity, aka the Avatar. Digital assets, such as the Metaverse Smart Token and Metaverse Identifiable Token, form the foundation for all financial transactions on the blockchain. 

Entropy (ETP) is the native token of the Metaverse blockchain. It is a utility token and a cryptocurrency that powers the Metaverse ecosystem. The protocol rewards miners and developers on its blockchain in ETP tokens. Users also pay transaction fees on the network using the ETP. 

Entropy (ETP) derives its name from the scientific concept in thermodynamics that is most commonly associated with a state of disorder, randomness, or uncertainty. 

With projects like Decenterland, Axie Infinity, and Sandbox stealing the show, can the Metaverse project cash in on the term’s popularity? 

Recommended: Australian Open comes to the Metaverse

Metaverse (ETP) token price history 

Metaverse issued ETP tokens in an ICO back in September of 2016. Initially, each ETP token sold for about 30 cents, allowing the project to raise 2 million dollars as a result.

Created by Eric Gu, one of the founders of NEO, the project registered initial successes in the market. Five years back, the project rallied to take the price of ETP to a whopping $6.24 per coin on June 5, 2017. However, the devastating bear market of 2018 crushed the prices of cryptocurrencies. Metaverse (ETP) was one of the projects that got hit hard, with altcoins suffering the most.

Metaverse ETP token price history 
The Metaverse ETP price is down 98% from its all-time high. Credit: CoinMarketCap.

At the time of writing, the Metaverse (ETP) price stands at $0.15, a massive 95% below its all-time high of 2017. Metaverse (ETP) has a circulating supply of 79,607,435 ETP coins and a maximum supply of 100,000,000 ETP coins. With a market capitalization of over $12 million, Metaverse currently ranks 983 on CoinMarketCap.

The Chinese blockchain company has built some partnerships in the blockchain space. However, after the cryptocurrency market crash of 2018, it has failed to pull itself back on its feet. Since the year began, the price has remained rather stagnant without any significant movements. 

For a project that has one of the most popular terms in crypto as its name, the performance is nothing short of disappointing. If it is to survive in the blockchain space, Metaverse (ETP) has to make some serious efforts. Without proving itself a better option compared to other dApp and smart contract platforms, ETP may remain in the shadows for a long time. 

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