Metal Dao (MTL) Becomes the New Memecoin for South Korea

  1. Metal Dao (MTL) becomes the new Korean Memecoin.
  2. The current trading volume of MTL is $260 million.
  3. Bulls have dominated the MTL market in the last 24 hours.

According to a recent tweet posted by CryptoNewsLand, a reputable media organization, Metal Dao (MTL) has taken the lead in the South Korean market, emerging as the new Memecoin for the country.

Based on recent data, the trading volume of Metal Dao in South Korean won (KRW) is approximately 260 million dollars. This data came from the crypto trading platform, Upbit, which is the most prominent cryptocurrency exchange firm in South Korea.

Presently, the Metal DAO (MTL) utility token is used to manage the stablecoin known as the Metal Dollar (XMD). In addition, holders of MTL receive tiered trading discounts when they use the Metal Pay cash and cryptocurrency app. Customers who own 10,000 MTL or more on their Metal Pay accounts are eligible to make purchases of cryptocurrencies with no transaction fees.

Nonetheless, in spite of the positive feedback that has been received by MTL users, the annualized negative financing rate for the Binance MTL contract is as high as 1430 percent.

This comes after the South Korean regulatory authority Financial Services Commission (FSC) issued the guidelines on cryptocurrencies as securities tokens ahead of their planned legalization.
According to data from CoinMarketCap MTL was trading at $1.54 at the time of this writing, representing a price increase of 22.04% in the previous twenty-four hours, with bulls putting support around $1.25 and resistance at $2.10. The upbeat attitude of market participants is reflected in the trading volume, which has surged by 720.90% and is currently hovering around $465,581,833 in total.

Read Also :

disclaimer read more

Crypto News Land ( , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

Kelvin enjoys writing about cryptocurrency and blockchain. He started blogging in 2019 and switched to cryptocurrency in 2020. Kelvin is interested in technology, football, chess, and Defi. He wants decentralization to benefit everyone on the planet.