With the increasing number of cryptocurrencies in the market today, competition for the market share appears to be heating up and one of the most hit coins is Ethereum. However, the good thing about the competition is better real life solutions the various technologies are offering. Metaverse ETP entry into the market appears to take a hit hard on Ethereum but its low adoption has been associated with the coins risks.
The coin has however surprised many investors by going against the bearish market trends. The coin has been gaining value at a time when others have been recording loses. The digital asset fiat paring has kept the coin stable as many users have adopted it as an easy exit from crypto to fiat economies.
Investor Shifting Focus from Mainstream Coins and Tokens
The growth of the crypto industry has seen many investors looking for coins with better value proposition rather than its market value. Bitcoin has been faltering in the market and its unpredictable patterns has seen traders look for alternative low priced digital assets that that add value to their investment.
With increasing fiat pairs, Metaverse has proved to the market how essential it is to break the gap between the two worlds. However, many speculators are taking advantage of the link and have slowed down the ETP adoption. This has also affected the coin credibility with many crypto verse observers terming it as a high risk coin.
Metaverse ETP Growth in a Bearish Market
With the growing crypto awareness, users have come to appreciate coins that offer fiat gateways. With more and more exchanges trading in fiat and digital coins, coins that are paired with the traditional currency are getting more attention than the crypto to crypto pairings.
Unlike two years ago, traders have an option of exiting to fiat when the volatile crypto market plummets to salvage their earnings and Metaverse is one of the best coins to use. This partly explains why its value has been on the rise for the last few months in the run up to the September 5 market crash.
Coins that are paired with fiat are easy to decipher their value and that is the direction the market is taking. ETP has been able to cushion its users against volatility and this is another reason why the coin value has been appreciating given the fact that the coin has a small community; its value is not asset pegged thus it is less volatile.
Metaverse ETP Organic Growth
When digital asset prices surge when the market is bleeding traders only see it as a pump and dump tactic but for Metaverse, the spike has been due to increased demand. Frustrated investors appear to have turned to the coin to make gains and cushion their losses from major coins and tokens and this has seen the platform sustain its price organically.
Secondly, Metaverse entry into the market has given users total control over their digital ID and this could be pegged on the coins popularity and increased market visibility. August has seen most coins trade in the red territories and any coins trading in the green attracted a lot of attention from the panicking investors and ETP has been the gainer.
Metaverse ETP Price Outlook
In June, the ETP coin was trading in the $0.54 threshold and has been steadily rising to hit its current high of $3.29. ETP has been able to makes gains of 1.47% in the last 24 hours and the last two months gains have seen the coin comfortably heading back to its all-time high of $5.63 in January this year.
For the prospecting traders, ETP is one of the most promising short term investments while the long term value proposition is also glaring for the long term investor. However, the coin is not a lone ranger in the market and keeping an eye on others will help you stake up wisely.