Here’s Why Metal DAO’s MTL Crypto Price Is Pumping: Analysts Share Price Targets

Metal DAO’s MTL token has experienced a 15% rise in price action today. This surge comes as the project prepares for a major upgrade and migration to its own Layer 2 network. The following paragraphs look at this in detail and cover all that you should know about the upcoming upgrade.

The recent price action appears to be driven by anticipation of a significant upgrade to the Metal DAO ecosystem. According to an announcement from the official Metal L2 X account, the project is planning a smart contract upgrade that includes an airdrop of the new MTL v2 token.

Key details of the upgrade and airdrop:

  1. Snapshot Date: June 24, 2024, at 11:00 UTC+8
  2. Airdrop Date: June 26, 2024, at 11:00 UTC+8
  3. Migration from Ethereum mainnet to Metal L2
  4. 1:1 ratio for MTL v1 to MTL v2 tokens

The upgrade follows the successful passage of the Metal DAO governance proposal MIP-001 on April 5, 2024. This proposal outlined plans for transitioning to Metal L2 and allocating funds for development and maintenance.

Celebrate Dogecoin and Make Big Gains with Doge2014!

Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!

Show more +

Read More: Kaspa Analysts Think KAS Could Reach Top 5 Crypto: Here’s Why

Ecosystem Developments and Support

The Metal DAO ecosystem is expanding its reach within the broader cryptocurrency landscape:

  1. Collaboration with Velodrome, a major DEX on the Optimism Superchain
  2. Integration of the Digital Banking Network with other Superchain ecosystem projects
  3. Support from various wallets and exchanges for the upcoming upgrade and airdrop

Holders of MTL tokens on supported platforms like Metal Pay, WebAuth, and Metal X will be automatically included in the snapshot for the airdrop. Users of other wallets are advised to migrate their tokens to supported solutions before the snapshot date.

MTL Price Predictions

As the MTL token gains traction, analysts are sharing their price targets and technical analysis:

  1. Decilizer (@decilizer on X) suggests a near-term target of $2.8, with $1 serving as a support level. They also note a potential downside support at $0.78 if momentum wanes.
  2. Crypto GVR (@GVRCALLS on X) maintains a bullish outlook, projecting a long-term target range of $2-3 for MTL.

These predictions indicate a potential upside of 53% to 130% from the current price levels, assuming the bullish trend continues.

Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.

We recommend eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

CaptainAltcoin
Logo