Why is Metaverse doing so well?
About 10 months ago I discovered the cryptocurrency Metaverse(ETP). I published a post on Steemit https://steemit.com/cryptocurrency/@firemonkey/what-is-currently-happening-with-metaverse and I bought a few ETP on Bitfinex. Like most cryptocurrencies this appeared to be a bad investment. In the past few months however Metaverse shows a remarkable recovery.
If not the best performing cryptocurrency Metaverse definitely is one of the best performing cryptocurrencies. In a market where most cryptocurrencies are losing value relative to the USD Metaverse went up from USD 0,50 at the end of June to almost USD 3 today, a 500% rise!
Unfortunately I cannot find a reason for this remarkable recovery. Who is buying and why?
The founder of Metaverse is Eric Gu and he seems to be quite influential in the Chinese blockchain industry. Recent comments from Erik Gu state that Metaverse is going to focus on digital identities and he expects that the gaming industry will be very interested. There seem to be no concrete results yet however.
On the internet I see several negative posts on Metaverse but some of them contain factual inaccuracies or accusations without any evidence. E.g. : https://cryptovest.com/news/metaverse-etp-etp-pump-considered-entering-danger-zone-project-may-be-a-failed-coin/
A more recent less negative post is : https://cryptodisrupt.com/metaverse-etp-gold-or-garbage/
Metaverse seems an interesting project but for me it is still unclear why Metaverse is doing so well. Please let me know if anyone here has some more information about Metaverse
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