In this article we will see the latest most relevant news for the cryptographic projects MetisDAO (METIS), Quant and Serum and their respective altcoins.
One of these cryptocurrencies in particular is attracting the attention of the general public, driven by a truly remarkable price increase.
Let’s check all the details below.
The latest news for the crypto projects MetisDAO, Quant and Serum: which is the best altcoin?
Starting from the most interesting news to report today, we can mention the recent growth of the cryptographic ecosystem of MetisDAO, which records chain statistics in strong growth.
The Foundation of the project, which supports the decentralized network of type layer-2, is going through a phase of strong growth after offering at the beginning of this month a fund worth 360 million dollars for the development of its own ecosystem.
The money will be used to strengthen the liquidity of its markets, decentralized activity and the adoption of protocols built on it.
The fund has been widely welcomed by investors and users of DeFi applications, to the point that it has led to a +850% increase in the number of active wallets on Metis in the last 10 days.
All this reinforces the image of a very valuable infrastructure within the world of L2, which has often been underestimated in the past, but is now about to demonstrate its potential to the entire crypto world.
Currently, Metis has a TVL of 695 million dollars, with a growth of 560% in the last 7 days, which places the network in 4th place in the ranking of second layer blockchains on L2Beat.
In terms of fees, Metis represents the most cost-effective solution users can rely on.
Turning now to Quant, we see how on December 24th, Christmas Eve, the “Quant Advent 2023” came to an end, with which the web3 interoperability project team wanted to celebrate a year of successes within their own community interoperability.
From the 1st to the 24th of December, many topics were discussed every day, ranging from the most important news coming to Quant’s house to new use cases and perspectives in the world of decentralized finance.
On the final day of Quant Advent, the topic of CBDC was discussed, with the words of Bank of England Deputy Governor Sir Jon Cunliffe predicting ‘radical change on the horizon’ in relation to the digital payments front at the Innovate Finance World Summit in April.
The theme of the day served to remind the community how the introduction of CBDCs is now taken for granted within the landscape of new technologies and that it is only a matter of time before they become as dominant as cryptographic stablecoins.
However, the biggest supporters of the cryptocurrency world are still hostile to the integration of CBDCs, as they claim that it completely eliminates the privacy component for its users, putting their freedom at risk.
We will see in the coming months how and if the two extreme poles of decentralization through distributed systems and the centralization of digital central currencies will integrate with each other and what will be the preferred choice of investors.
Finally, speaking of Serum, there doesn’t seem to be any particularly interesting news on the horizon: the project, after the FTX crash last November, is now dead.
Unlike Solana and other protocols built on top of the blockchain that managed to recover after the economic and moral setback of 2022, Serum has evolved NOTHING more.
His website is now down and his profile on X has no posts.
Even on Github there are few commits on the Serum Repository, a testament to the fact that the DEX has now been abandoned even by its developers.
Technical analysis of altcoins METIS, QNT and SRM
Now let’s look at the graphical situation for 3 altcoins METIS, QNT and SRM, which belong to the respective projects MetisDAO, Quant and Serum.
One particular cryptocurrency has stood out in recent days for its performance in the cryptocurrency markets: we are talking about METIS, whose prices have increased by 246% in the last 7 days, mainly thanks to the developments we discussed in the previous paragraph.
The crypto rally testifies to the fact that it is not only Solana that is leading the positive trend of altcoins, but many other resources are carving out their own stage to perform on.
The METIS chart speaks for itself: the last 4 daily candles brought the currency “to the moon” that went from 39 dollars to the current 92.
The increasing volumes are accompanied by the bullish push of the asset, which may continue the movement in the coming days.
However, be careful with the extension of METIS, which is currently one of the highest RSI values ever recorded since its inception: we can expect a significant retracement in the near future.
For those looking to go long, it is absolutely necessary to pay attention to the psychological level of $100 that METIS could stumble upon or dictate the continuation of its upward pattern.
Always a positive situation, but much less encouraging for QNT, which despite the recent increases has not yet reached the annual highs around 160 dollars.
The altcoin, after marking a +28% in the last 7 trading days, may soon start a downward reversal, as expected by the local top in the form of a hint that is forming.
The bearish divergence on the RSI also indicates a strong likelihood of a correction that could occur at any moment.
However, this does not exclude the possibility of a bullish continuation, which finds greater support in the thesis of a break of the 150 day with significant volumes.
If that level were to be broken, we could see new annual highs before the end of 2023.
In any case, for the interoperability project web3, next year should be generally positive on the speculative front, leading to new price increases, although not immediately.
For short sellers, the level to watch for an increase in positions is $130, which if broken to the downside could lead to a strong acceleration into the red.
However, on the SRM front, the analysis sees an altcoin in total distress, without any support, whose prices are now in free fall.
As can be deduced from the previous paragraph, it is clear that, now that the project’s development has been abandoned, its crypto is also going through a phase of disinterest from the market.
Since the collapse of FTX, SRM prices have been in a continuous downward trend, almost only interrupted by occasional manipulation situations driven by whales trying to speculate on a coin with very low trading volumes.
While many other altcoin cryptocurrencies are expected to recover in 2024, the same cannot be said for SRM: projections point to a year of declines for the currency, which could even fall below the current minimum of 0.03 dollars.
This is a dramatic situation, especially for those who bought the token in September 2021 when the price was above $12.
The Serum case teaches us to diversify our positions without ever going all in on a single altcoin.
Disclaimer for Uncirculars, with a Touch of Personality:
While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!
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