How A Metaverse Crypto Gained Over 400% Just After Release

metaverse crypto

Despite the market’s adverse trend, Metaverse Crypto coins continue to witness considerable price gains. MetaPlanet, a Metaverse crypto coin that was released on January 20th, caught the market’s attention with a 24-hour volume of $1.3 million. Let’s take a closer look at this Metaverse cryptocurrency and understand why its price is so high right now.

What Is MetaPlanet?

MetaPlanet, which debuted on January 20th, is a DeFi Metaverse ecosystem based on the Binance Smart Chain. Its BEP-20 MPL coin serves as the platform’s native currency.

Metaplanet’s objective is to create a full suite of Defi and GameFi products, as well as to assist crypto investors in capitalizing on the industry’s growth.

MetaPlanet, like other Metaverse projects, aims to build a DeFi ecosystem by utilizing liquidity pools and NFTs to allow investors to earn passive income.

Metaplanet now offers the MPL swap exchange, a decentralized cryptocurrency exchange that allows users to trade their wallets for takers or makers. Users maintain complete control over their funds and are not required to open an account in order to use the exchange.

Read Also: Top 10 Cryptocurrency Companies to Watch In 2022

MPL Trax, a derivatives trading platform for novices, is also available from MetaPlanet. Traders can forecast whether a particular cryptocurrency’s price will climb or decline over a given time period. Users receive a 75 percent profit if their guess is true. Users will forfeit their original investment if they make an erroneous forecast. Users can also control their risk in whatever way they like.

Why Is The Price Of MetaPlanet Increasing?

The recent price increase at MetaPlanet can be attributed to a number of factors. To begin with, the fact that MPL was only recently listed means that many investors will rush into the market and buy a bag.

Furthermore, MetaPlanet’s proposed ecosystem is highly appealing to new investors. The MPL Swap, Exchange, MPL Trax, and Metaverse are all hot issues in crypto right now, and they’re guaranteed to help a project build buzz and trading volume.

Furthermore, the project’s tokenomics appear promising because the circulating supply matches the maximum supply. This implies MPL’s market cap isn’t fudged to make it appear lower than it is, as many projects try to fool investors into thinking the project is undervalued when it is actually overvalued.

As of the time of compiling this, MetaPlanet is trading at $0.0001162, up over 460 percent. It has an $869k market cap and a $1.3 million 24-hour volume.

With the WBNB pair, you can buy MPL on PancakeSwap.

MetaPlanet

Is Metaplanet A Good Buy?

For now, the market is favoring MetaPlanet, owing to its massive volume, which reflects the project’s popularity. Keep in mind, however, that MetaPlanet currently lacks a Minimum Viable Product (MVP), which is a disappointment.

Furthermore, going through some sections of its whitepaper shows some errors and it also contains serious grammar errors.
There are some paragraphs that made no sense at all, and such writing is a huge red flag for investing in this project.

If you’re looking for a high-stakes bet, head over to PancakeSwap and buy some MPL. If you’re looking for a safe investment, however, I’d advise you to stay away from MPL.

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