Metaverse ETP- also known as Metaverse $Entropy is the native digital cryptocurrency of the Metaverse ecosystem, which is a public blockchain. Entropy is a technical term in Physics (thermodynamics) that discusses the degree of randomness in a particular system, which might describe the blockchain-as-a-service (BAAS) platform.
The primary purpose of the ETP cryptocurrency is to offer security and facilitate utility within the metaverse blockchain. It essentially incentivizes users to stake and mine. Being a Chinese cryptocurrency, Metaverse shills have been saying that it is likely that it will have a bull run similar to NEO and WaltonChain.
The whitepaper is full of grammatical and syntax mistakes, inconsistent logic, and outright pointless text but it was defended by shills saying the NEO and WaltonChain were also poorly written.
NEO already had a finished product by the time it pumped and was filling a niche as the “Chinese Ethereum” to speculators. Every blockchain requires activity to prosper, and enough incentives must be given to miners and stakers to facilitate constant movement within the blockchain network.
Essentially, by providing ETP as a digital cryptocurrency that can appreciate value as the market capitalization increases as supply and demand increase, investors can grow their digital investments and use them to pay Metaverse bills.
What is Metaverse ETP
Image Courtesy of Metaverse Website; Mvs.org
The ETP, the native digital cryptocurrency of the Metaverse blockchain, has been in existence since 2018. The Metaverse identifiable cryptocurrency has a circulating supply of 100 Million ETP tokens. The least possible denomination for an ETP cryptocurrency is 10^-8.
The Metaverse cryptocurrency, ETP, glorifies itself by its unique implementation as a measure of digital assets through Metaverse Smart Token (MST) while also being utilized in blockchain transactions as collateral. It cleverly uses blockchain new technologies such as a smart contract, a digital identity such as Avatar, smart property, and a unique Metaverse ETP cryptocurrency stored in a hardware wallet.
The Metaverse blockchain only allows payments in ETP, which comes in handy for ETP holders. Transaction fees are charged on various activities on the blockchain to ensure ETP is continuously used.
Cryptocurrency investors are often interested in the overall distribution mechanism utilized. Below is a detailed analysis of ETP Tokenomics and how they impact the current price of ETP cryptocurrency in the ETP Metaverse.
Metaverse ETP distribution and tokenomics
Image courtesy of Metaverse Foundation 2018 Whitepaper
Tokenomics and coin distribution mechanisms have a massive impact on any blockchain project’s future value and overall success since it determines the foundational structure of a digital asset’s success. Transactions on the Metaverse require users to pay using ETP, and that it gives them their governance responsibility.
The ETP cryptocurrency is distributed using several methods that overall sum up as a more elaborate and distribution mechanism than various blockchains.
The ETP cryptocurrency is distributed in three significant ways:
- Deposit Interest Rewards system
- PoW mining rewards system
- Community and ICO.
The deposit interest reward system is essentially a staking mechanism that allows users to earn more, in the form of interests, by depositing ETP tokens for a specific period. Twenty million ETP tokens are reserved to facilitate the deposit interest rewards feature.
Alternatively, there is the PoW reward mechanism; these are targeted ETP tokens that facilitate the development and growth of the Metaverse network. The PoW reward scheme is allocated 30 million ETP tokens that will be rewarded to miners for interacting with the blockchain.
Finally, the ICO and community method of distribution has a total supply of 25 million ETP tokens. These ETP tokens are offered to early investors in ETP’s Initial Coin Offering. Additionally, other 25 million ETP tokens are set apart to develop and support Metaverse-based blockchain projects through the Metaverse Foundation.
Metaverse current price data analysis
Image Courtesy of CoinMarket Cap
As of the time of this writing, the trading volume of ETP is USD 235,439 fiat money, which is, in fact, a reduction from the previous 24-hour trading volume. The current value of ETP has also gone down by -6.17% based on CoinMarket cap live data of ETP digital value that is updated by real-time prices of ETP on the charts.
ETP currency value and market capitalization place it at number #869 according to rankings by CoinMarketCap that is USD 15,512,543. Currently, the cryptocurrency has a total circulating supply of $17,117,456 coins. The ETP crypto assets have a max collection of 100,000,000.
How do I get Metaverse ETP?
ETP is relatively widespread and has witnessed an increase in USD value since its introduction to the crypto exchange. The ETP cryptocurrency is currently available in many cryptocurrency exchanges such as HitBTC and Bitfinex altcoin exchange.
Also, other cryptocurrency exchanges like TopBTC, MEXC, and Coinsuper allow users to buy and sell ETP in high volume.
Since Metaverse blockchain provides a foundational infrastructure to third parties with enterprise and social requirements, it has a long-term impact on the future of blockchain technology, giving investors a chance to bet on long-term value appreciations.
Metaverse ETP use cases
The Metaverse has grown over the years and morphed over the years since its inception. Recently, the old Metaverse blockchain has been redesign to include new revolutionary features.
The new Metaverse network is focused on the infrastructure layer of blockchain and is primarily focused on revolutionizing the decentralization of the Metaverse blockchain. The new Metaverse network requires little ETP for transactions and deployments to support developers.
Developers can deploy decentralized applications by paying reduced costs compared to the previous blockchain. These improvements allow for the rapid growth of the blockchain network by increasing overall transactions within the blockchain network.
Metaverse token, ETP, miner fees and transaction costs
Image Courtesy of Metaverse ETP Litepaper
One improvement from the old Metaverse blockchain is the reduction in transactions costs. The Metaverse blockchain previously charged slightly higher transfer costs, making it difficult for decentralized app developers to deploy on the platform.
The Metaverse ETP fees for miners vary depending on the miner. Miners and developers receive reward values in ETP every hour.
The fees essentially range from o.65% for miners like Phoenix and Lolminer to 1% for miners such as Nanominer and TeamRedMiner. It is essential to note that these are costs for mining the Metaverse hyperspace.
Metaverse ETP price history
Image Courtesy of Wallet Investor
Metaverse ETP’s market value has risen significantly since its launch. The digital cryptocurrency experienced steady growth in ETP value but has also experienced a significant reduction in ETP value during the bear market.
When looking at the all-time price history and technical analysis of the ETP value, it is clear that it has generally had a bearish trend. The highest prices ever recorded for Metaverse ETP were back in 2018 when it was launched to the cryptocurrency exchanges.
However, the market cap has shifted significantly both upward and downward depending on the prevailing market sentiments. The bearish trend that began in mid-2019 has since led to an imminent fall of the ETP value, reducing the cryptocurrency’s total market cap.
The value reduction could be attributed to the change in the cryptocurrency’s native blockchain requiring users to transfer their ETP tokens that underpin transactions.
The Metaverse platform prides itself in its unique implementation of digital identities like the Avatar. The ETP value could pick up from its bearish trend due to the promising decentralized finance features that form the foundational infrastructure of the Metaverse blockchain.
The ETP cryptocurrency is a promising but undoubtedly riskier digital asset than other well-established Alts like Ethereum. The token has experienced a relatively downward trend in the cryptocurrency exchanges considering its value in fiat currency and the exchange rate on either credit card or debit card.
When looking at how ETP compares to other Altcoins, it could be wiser to have a small portion of your portfolio allocated to Met ETP coins. its price is not anchored to any fiat currency or cryptocurrency but on the development of the Metaverse ecosystem and market demand.
#ETP #Metaverse #Blockchain
Notably, the ETP price is expected to resume an upward trend based on the new changes made on the new Metaverse blockchain. The Metaverse ETP price could quickly increase due to special features of its new parent blockchain, such as digital identities like Avatar.
Essentially, investors should invest in assets with low trading volumes like ETP with caution. Good financial advice should be sought, and research should be conducted before putting money in assets like ETP.
Below are some frequently asked questions about the longevity of the Metaverse native digital cryptocurrency, ETP, and how investors should handle it as a utility token for investments and growth of wealth for both the short and long term.
Is ETP a good token for the long term?
Cryptocurrency enthusiasts interested in ETP can invest in the ETP cryptocurrency for the long-term potential. Based on value prediction data, the ETP cryptocurrency may benefit from the new changes in its parent blockchain that allows investors to deploy several decentralized applications, increasing the use cases of the ETP cryptocurrency and overall demand for the digital asset.
The ripple effect will cause an increase in its value, which in turn will increase the value of ETP.
Is the Metaverse blockchain project still active?
The old Metaverse blockchain was upgraded to a new blockchain in an attempt to increase its functionality. The token only appreciates the value when the native blockchain is active.
The new Metaverse blockchain allows developers to enjoy reduced transactions fees; this single improvement has led to increased activity within the blockchain since more developers can afford to deploy their DaPPs for reduced ETP costs.
Additionally, the blockchain has overall reduced transactions costs that encourage more transactions within the network. These transactions have increased the activity in the Metaverse blockchain.
What is the relevance of Metaverse ETP in 2021
Metaverse ETP advances blockchain development and stretches the technology to further limits. The innovative nature of the Metaverse allows it to develop a virtual universe whereby Digital assets such as Metaverse Identifiable Token and Metaverse Smart Token can be used alongside digital identities like Avatar as a base for asset transactions through intermediaries (Oracles).
These developments are significant in 2021 and beyond since they champion Decentralized finance innovations, attempting to build the industry and offer more value.
What is the predicted ETP value for 2022
By January 2022, the ETP cryptocurrency value is expected to rise in cryptocurrency exchange platforms to $0.2435140 by the beginning of the year. However, due to cryptocurrency volatility, these figures may vary widely depending on the dominant factors.
However, the minimum predicted value for ETP by the end of the year reduces the expected prices in Jan. The minimum value is expected to be $0.2201702; the maximum value is expected to be $0.3237797. Considering the extremes, the average value for an ETP token in December 2022 is $0.2590238.
What is the predicted ETP value for 2023
In 2023, the value of the ETP token is forecasted to be very volatile. The value prognosis for the ETP cryptocurrency in 2023 January indicates that the digital cryptocurrency will trade at an average value of $0.2662280.
The expected minimum value for the ETP cryptocurrency in January 2023 is $0.2262938, and the maximum expected ETP value is $0.3327849.
By the end of the year, impressive positive changes are expected to happen. Based on the analysis of the price action, the minimum predicted value by December is $0.2892257. The maximum expected value for the ETP cryptocurrency is $0.4332407.
When we consider these value limits for the ETP value, the average ETP value is projected to be $0.3465926, a 76.28% positive change from the current value.
Can Metaverse crash?
This is a common question among cryptocurrency investors. Many small market financial transactions blockchain projects invoke fear among risk-averse investors. Some cryptocurrency and blockchain projects may just be riding on the hype and can run off with investments after the ICO stage.
However, as earlier mentioned, the ETP is a high-risk cryptocurrency with relatively poor price gains over the years. Many investors are advised to look for better-performing cryptocurrencies since, although not likely, it is possible that the entire Metaverse network could crash. Therefore good investment advice would be to sit it out and wait for better investment opportunities.
What’s on the horizon for Metaverse ETP?
The price of Metaverse ETP has fallen by 14.38% in the past 7 days. The price increased by 1.81% in the last 24 hours. In just the past hour, the price grew by 0.76%. The current price is ₱10.04244 per ETP. Metaverse ETP is 96.82% below the all time high of ₱316.02.The current circulating supply is 79,123,481.075 ETP.