MetisDAO (METIS) has been stumbling since early May after the asset fell from the $30 mark. However, as the heat around the Poly Network exploit cools, the METIS price witnessed a notable rise. 
METIS, the native token of the Metis ecosystem, surged by 11.5% in the past 24 hours. The asset is trading at $17.3 at the time of writing despite the recent market-wide downturn.&nbsp; 
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 METIS price – July 10 | Source: <a href="https://coinmarketcap.com/currencies/metisdao/" target="_blank" rel="noopener">CoinMarketCap</a>
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According to data provided by CoinMarketCap (CMC), MetisDAO’s total market capitalization currently stands at roughly $77.5 million, ranking 274th on CMC. Per the data, the recent surge comes as the asset’s 24-hour trading volume sees a significant surge, rising by almost 20%. 
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Moreover, the trading volume of METIS currently stands at $11.5 million with the majority, $6.8 million, coming from centralized exchanges (CEXs), according to CMC. 
The asset saw a significant hike at the start of the year, rising to almost $43 on Feb. 18. METIS was consolidating between the $18 and $21 mark in June, but with the recent <a href="https://crypto.news/polynetwork-remains-suspended-24-hours-after-5m-hack/">Poly Network</a> hack that <a href="https://crypto.news/metisdao-warns-purchases-made-after-poly-exploit-are-not-valid/">affected</a> the METIS addresses on <a href="https://crypto.news/bnb-chain-retains-position-as-most-active-network/">BNB Chain</a>. 
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 <div class="wp-block-embed__wrapper"> <iframe loading="lazy" title="Metis Crypto: a good buy?" width="1020" height="574" src="https://www.youtube.com/embed/Gl3Mes6jol0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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Moreover, the asset’s price fell to $14.67 on July 8, a local bottom for MetisDAO.&nbsp; 
Last week, Metis announced on Twitter that the METIS transactions on the BNB Chain at the time of the exploit will be reverted.&nbsp; 
The ecosystem’s governance protocol, MetisDAO, hinted at deploying another contract while encouraging liquidity providers to withdraw their funds. 
 Read more: <a href="https://crypto.news/ripple-labs-to-tokenize-the-multi-billion-dollar-real-estate-industry/"> Ripple Labs to tokenize the multi-billion dollar real estate industry </a>

MetisDAO (METIS) recovers despite the market’s red u-turn

crypto.news

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