The native cryptocurrency Metis and other assets of this ecosystem showed an increase of tens of percent after the announcement of grants totaling $360 million
The price of Metis (METIS), the native cryptocurrency of the Metis blockchain, whose team includes the mother of Ethereum ecosystem co-founder Vitalik Buterin Natalia Amelina, increased by 50% in a day, according to CoinGecko. Investor interest in METIS and other ecosystem coins began after the announcement of grants totaling $360 million.

Metis is a layer 2 scaling protocol that allows users to transact on the Ethereum blockchain faster and cheaper, but with its own ecosystem projects and tools. Natalya Amelina heads the $100 million Genesi DAC fund in this network, which supports startups in the Metis network.

In mid-December, the developers at MetisDAO unveiled the 4.6 million METIS Ecosystem Development Fund (EDF), designed to stimulate project development and increase activity in the Metis ecosystem.


At the time of the announcement, the Metis token was trading at around $22. By December 26, the asset rate had risen to $79. At current prices, the fund is worth about $360 million. Payments to projects are expected to begin in the first quarter of 2024.

Over the week, the price of the network’s native cryptocurrency increased by 177%. Tokens of some ecosystem projects have more than doubled over the past week: the MAIA token has risen in price by 116%, HERMES by 263%, and TETHYS by 163%. Memcoin BARSIK, launched online on December 21, has increased in price by thousands of percent.