Metaverse ETP- also known as Metaverse $Entropy, is the native digital cryptocurrency of the Metaverse ecosystem, 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.
• Metaverse Wallet Review
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 will likely 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 poorly written.
NEO already had a finished product by the time it pumped and filled 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
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
Tokenomics and coin distribution mechanisms have a massive impact on any blockchain project’s future value and success since it determines the foundational structure of a digital asset’s success. Transactions on the Metaverse require users to pay using ETP, giving them their governance responsibility.
The ETP cryptocurrency is distributed using several methods that overall sum up as a more elaborate 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 distribution method 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.
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. The old Metaverse blockchain has been redesigned to include new revolutionary features.
The new Metaverse network is focused on the infrastructure layer of the 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
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
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 on the cryptocurrency exchanges.
However, the market cap has shifted significantly 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.
Metaverse ETP Current Market Status
Image Courtesy of CoinMarketCap
According to data obtained from CoinMarketCap, Metaverse ETP is currently trading at a market price of $0.1190, with a 24-hr trading range of $0.1122-$0.1225. Also, the 24-hour trading volume of this asset is $32,037, a 531.67% increase from the previous day’s trading volume.
The current market valuation and the market cap of Metaverse ETP cryptocurrency put it at #970 in the crypto market rankings. Its circulating supply is 80,012,723.66 ETP, and it has a maximum available supply of 100,000,000 ETP.
Metaverse ETP Price Predictions 2022-2030
The Metaverse ETP forecast provided by Wallet Investor provides a bearish signal for the crypto over the following months. Its predicted price is expected to fall by about 71% to $0.0338. However, the forecast for the start of 2023 is quite optimistic, with the coin’s value expected to recover, then soaring to almost $2.
Priceprediction.net’s Metaverse ETP price prognosis shows that the asset could be profitable in the long term. They predict that ETP will grow steadily in the coming years and could reach $1 by 2027. Beyond 2030, they expect the market value of Metaverse to exceed its current ATH at $6.24.
Cryptopredictions.com expects Metaverse to reach a maximum price of $0.1973 in April 2022 – that’s 65% gains for investors in the short term. Their year-end maximum market value for the coin is $0.1874, and the average forecast price is $0.1499. In addition, its minimum price for December 2022 is $0.1274.
|Year||Minimum Price ($)||Average Price ($)||Maximum Price ($)|
ETP Price Prediction 2022
The adoption of the Metaverse blockchain is expected to grow significantly in the future as developers continue to build DApps at reduced fees and institutional investors get on board the project. Based on price history and market analysis, we expect a maximum Metaverse ETP value of $0.16 and an average price of $0.15 for 2022, as daily trading volumes increase significantly.
Metaverse ETP Price Prediction 2023
We expect steady growth in the digital currency’s market value in 2023. Metaverse ETP is forecasted to hit a peak price of $0.19 by the end of 2023. The coin’s average market price for the year is $0.17, and its minimum expected price is $0.16.
Metaverse ETP Price Predictions 2024
If the steady growth in the Metaverse ecosystem continues in 2024 and the market continues to back ETP, it could reach the $0.20 mark. The minimum price prediction for this period is $0.15. On average, Metaverse ETF will trade at around $0.17.
Metaverse ETP Price Predictions 2025
By 2025, the maximum forecast price of Metaverse ETP is $0.24, its minimum value is $0.21, and the expected average market price is $0.21. If purchased at the current market price, investors could earn twice their initial investment if they choose to sell off their assets in 2025.
Metaverse ETP price predictions 2026 and beyond
With more developments expected on the Metaverse ETP network, further price gains are anticipated beyond 2025, with pullbacks and corrections that traders must look out for. Our Metaverse ETP price predictions put the crypto’s maximum value at $0.23 by 2026, $0.35 by 2027, and $0.42 by 2028.
The Metaverse ETP cryptocurrency is a promising but undoubtedly riskier digital asset than other well-established Alts like Ethereum. Since the 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.
Notably, the ETP price is expected to appreciate as more developments come to the new Metaverse blockchain. It 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 Metaverse ETP with caution. To avoid losses, it is best to seek financial advice and conduct adequate research before investing in Metaverse ETP or any crypto.
FAQs about Metaverse ETP
What is the relevance of Metaverse ETP in 2022?
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).
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 its 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.
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 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.