The top Metaverse crypto coin gaining the most price today is ETNA Network, up over 12%. Today’s price hike comes amid a recent migration and updates to ETNA’s Vault dashboard, enabling users to stake and farm ETNA and MTB tokens with great APR.
What Is ETNA Network (ETNA)?
Launched in March 2021, ETNA Network (ETNA) is a Metaverse blockchain platform that connects GameFi and NFT applications within a single ecosystem.
ETNA Network features its BEP-20 governance token ETNA, along with its play-to-earn and Metaverse rewards asset Metabolism token (MTB).
The platform is looking to be a one-stop ecosystem for crypto products and technologies, with a multi-utility ecosystem with products cutting across DeFi, NFT, gaming, and everything in between.
Currently, the project features a play-to-earn game that users can download on PC and try out. To start playing, users must purchase an NFT from the ETNA marketplace. There are dozens of NFTs available with a price range between $100-$200 at the time of writing.
ETNA Network is like a crypto galaxy. It aims to be a one-stop ecosystem for interconnected crypto products and technologies. It’s a multi-utility ecosystem with products cutting across NFT, gaming, DeFi, and everything in between.
The project currently features their play-to-earn game that users can download on PC and check out. To start playing, users must purchase an NFT. There are dozens of NFTs available on the ETNA NFT Marketplace, costing roughly $150-$160 at the time of writing.
Why Is ETNA Price Rising?
ETNA is up over 12% today, and the recent news that most likely contributed to the current price hike is the migration and update of ETNA’s vault, a dashboard enabling holders to stake their tokens for rewards.
Migration and updates of The Vault is now complete.
You can now stake/farm $ETNA and $MTB with great APR at https://t.co/tZlgjUed16#Staking #yieldFarming #NFTGiveaway #NFTs #PlayToEarn #play2earn #Metaverse #BSC #BSCGem #PolygonNFT #poly pic.twitter.com/I3TWjkrA9H
— ETNA.Network (@EtnaNetwork) February 10, 2022
Users must connect with a compatible wallet like MetaMask and switch to the Polygon network to start using the vault. There are various options for users to begin earning rewards, including Token Staking, NFT Staking, and Liquidity Mining.
Users can stake their ETNA and MTB tokens for three to 365 days. The APY varies depending on the length of time users lock up their tokens and can go as high as 60%.
Users can also stake their NFTs if they have purchased one from the NFT marketplace. Last but not least, holders can receive up to 250% APR for mining liquidity on the platform, which is quite significant.
At the time of writing, the most popular staking option is the Silver Vault 30 day token staking with an APR of 20%. The TVL at the time of writing was 1.4 million ETNA, roughly $140k at the time of writing.
Final Thoughts
With a current market cap of $1.2 million, ETNA Network is one of the most underrated projects on the market. In addition, the fact that the team has multiple fully functional products speaks to the tremendous long-term potential of this coin.
The only concerning fact about ETNA is that two addresses hold over 69% of the tokens’ total supply.
Other than that, ETNA has good long-term potential, and their recent Vault upgrade is a great way to incentivize holders.
You can purchase ETNA on PancakeSwap, MEXC, and CoinTiger.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coin.
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