Ethereum Layer-2 Skyrockets After Earning Surprise Support From Crypto Exchange Binance

One Ethereum (ETH) layer-2 altcoin undertaking is hovering after a sudden itemizing by Binance, the world’s largest crypto buying and selling platform by quantity.

As Binance announced on Monday spot buying and selling help for ETH scaling resolution Metis (METIS), the token rallied by double digits.

Says Binance,

“Binance will record Metis (METIS) and open buying and selling for these spot buying and selling pairs at 2024-03-11 12:00 (UTC). New Spot Buying and selling Pairs: METIS/BTC, METIS/USDT, METIS/FDUSD and METIS/TRY.”

METIS goals to supply decrease charges and sooner transaction instances than the main good contract platform Ethereum. The MetisLab Basis undertaking, which launched in 2021, makes use of optimistic roll-up know-how to execute transactions outdoors of Ethereum’s blockchain whereas recording transactional knowledge. Optimistic rollups mechanically assume transactions are legitimate.

Binance is itemizing METIS with an connected seed tag, which the alternate applies to lower-liquidity tasks which will exhibit increased volatility in comparison with different listed tokens. Binance requires customers who personal property with seed tags to move quizzes each 90 days to make sure they’re conscious of the dangers earlier than buying and selling the tokens.

Amid the Binance information, METIS rallied to a excessive of $147.87 on Monday, a greater than 39% enhance from Sunday’s low of $106.18. METIS retraced since and is buying and selling for $137.28 at time of writing, nonetheless up 25% within the final 24 hours.

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