Metal (MTL) Price

When Bitcoin was introduced back in 2008, the idea was for it to become a viable alternative to the traditional banking system. The blockchain technology that drives Bitcoin has given rise to a whole range of decentralised virtual currencies. However, despite this dramatic surge in the launch of new cryptocurrencies, the world is yet to adopt it as an alternative to fiat currencies. If anything, people are holding on to their blockchain assets in the hopes that its value will soar, just like that of Bitcoin.

Even though these cryptocurrencies claim to be the future of payments, a  vast majority of them are yet to be implemented in day-to-day payments. However, there exist a few cryptocurrencies with specific focus on day-to-day use. Metal (MTL) is one such player, that aims to promote the usage of cryptocurrencies by rewarding its users with Metal token.

What is Metal?

You can think of Metal as a payment processing application that will use Metal tokens, cryptocurrencies, and fiat currencies for payments. It is quite similar to other payment service providers such as PayPal or Venmo, with the distinction that it will also support cryptocurrencies. Needless to mention, these peer-to-peer payments will be settled in real-time.

Metal is built on the Ethereum Blockchain and will provide its users with the facility to convert their fiat currencies into cryptocurrencies and vice-versa. What Metal is trying to achieve here is to give its users a platform where they can seamlessly operate between fiat and cryptocurrencies in a fair manner. To achieve this goal, Metal will make use of its MTL tokens.

Metal aims at encouraging people to adopt its technology and cryptocurrency through a reward mechanism known as PoPP, also known as Proof of Processed Payments.

Simply put, PoPP reward system has a fixed number of Metal tokens locked which will be released to Metal users when,

  • They use the Metal Pay application for the conversion of fiat currencies to cryptocurrencies and vice-versa
  • They use the app to send or receive money

This reward is up to 5% of the volume of the transaction. It is quite similar to earning a cashback, except you are rewarded with Metal tokens whenever you use the app for conversion, or for sending or receiving money. With the help of Metal Pay app, you can keep track of your money effortlessly. Furthermore, once you have accumulated enough Metal tokens, you can cash them out and spend it.

Therefore, it is evident that PoPP mechanism does not only serve the purpose of incentivising people to adopt cryptocurrencies, but it also introduces Metal tokens into the system.

At the time of genesis, a little over 66.5 million Metal tokens were created. Of these, a little over 20 million MTL tokens are up for sale, while 26.3 million MLT tokens are reserved for distribution through the PoPP reward mechanism.

It is important to know that Metal Pay is still in its early stages. In October 2017, the beta launch of the company took place. In addition to this, as of early April 2018, the Metal Pay app is yet to be made available to people. However, when the app is launched, people will have to undergo rigorous KYC formalities to avail the features of Metal Pay. The company has still got a long way to go and it will be interesting to see how it turns its vision into a reality.

Where to buy Metal cryptocurrency?

Metal cryptocurrency is available for purchase on some of the leading cryptocurrency exchanges in the world - Binance, Cryptopia, Livecoin, et cetera.

Metal Wallet

MLT tokens are supported on the Ethereum Blockchain, which means that they can be stored in any of the wallets that support Ethereum. There are plenty of options to consider here, ranging from hardware wallets, desktop wallets, mobile wallets, et cetera. Some of the popular wallets that can support Metal tokens are Ledger Nano S, Ledger Blue, Jaxx, Coinomi, et cetera.

Metal Token Mining

For the time being, Metal Pay has put a cap on the total number of MTL tokens that ever will be, and as mentioned earlier, this figure is a little over 66.5 million. These tokens will be created at the genesis and therefore, it will not be possible to mine Metal tokens.

Metal Price Trends

As of early April 2018, 1 MTL token is worth approximately $3.10, and just like its other counterparts in the industry, Metal too, is subjected to high volatility. The table below mentions how the price of Metal token has varied over the course of last seven months.

DateOpenHighLowCloseVolumeMarket Cap
Nov 12, 2018 0.623055 0.623871 0.595278 0.605184 1,183,430 19,677,732
Nov 11, 2018 0.639272 0.639272 0.612312 0.621456 391,763 20,206,821
Nov 10, 2018 0.631616 0.643326 0.623722 0.637376 1,126,650 20,724,464
Nov 09, 2018 0.641592 0.645447 0.626632 0.627692 768,858 20,378,201
Nov 08, 2018 0.645009 0.674942 0.638645 0.641333 1,302,450 20,821,060
Nov 07, 2018 0.640787 0.652047 0.637449 0.641479 640,213 20,825,800
Nov 06, 2018 0.648866 0.648866 0.624168 0.639744 819,973 20,803,594
Nov 05, 2018 0.647212 0.654735 0.635923 0.645409 642,058 20,953,389
Nov 04, 2018 0.647288 0.651952 0.636988 0.644842 940,116 20,934,981
Nov 03, 2018 0.650406 0.667179 0.642766 0.647223 1,106,430 21,012,281
Nov 02, 2018 0.647964 0.654835 0.639287 0.650433 1,163,320 21,116,494
Nov 01, 2018 0.651854 0.669818 0.645480 0.645480 1,212,120 20,972,437
Oct 31, 2018 0.654930 0.665260 0.630435 0.653919 1,050,100 20,970,835
Oct 30, 2018 0.635035 0.674329 0.623635 0.656196 1,604,810 20,488,021
Oct 29, 2018 0.684836 0.688194 0.622073 0.635309 1,319,690 22,094,738
Oct 28, 2018 0.685680 0.694457 0.675709 0.687526 619,825 22,121,985
Oct 27, 2018 0.685567 0.711002 0.682063 0.682063 1,328,310 22,118,314
Oct 26, 2018 0.689090 0.692595 0.678840 0.688121 982,994 22,231,974
Oct 25, 2018 0.704685 0.706810 0.680969 0.689351 1,328,490 22,735,128
Oct 24, 2018 0.714512 0.718370 0.702415 0.704406 1,327,220 23,052,174
Oct 23, 2018 0.697093 0.723670 0.686978 0.716706 2,094,410 22,490,188
Oct 22, 2018 0.692716 0.704989 0.676983 0.696069 1,410,200 22,348,983
Oct 21, 2018 0.691999 0.717490 0.688557 0.692078 1,483,970 21,827,026
Oct 20, 2018 0.688065 0.700134 0.681607 0.695109 503,146 21,702,925
Oct 19, 2018 0.693483 0.693909 0.673177 0.685198 744,046 21,873,829
Oct 18, 2018 0.717892 0.725170 0.681043 0.692575 1,260,570 22,643,751
Oct 17, 2018 0.724646 0.724646 0.708172 0.716525 1,523,390 22,856,779
Oct 16, 2018 0.726226 0.747559 0.715485 0.723465 1,880,490 22,509,748
Oct 15, 2018 0.731268 0.786641 0.704973 0.727796 4,577,350 22,519,792
Oct 14, 2018 0.682173 0.848959 0.674566 0.748361 12,437,900 21,007,876
Oct 13, 2018 0.670595 0.686397 0.640351 0.678934 2,475,360 20,651,314
Oct 12, 2018 0.680784 0.735053 0.662979 0.674093 7,233,940 20,828,945
Oct 11, 2018 0.682648 0.840740 0.574942 0.709455 10,291,800 20,885,959
Oct 10, 2018 0.703197 0.705061 0.672060 0.683809 2,277,180 20,990,466
Oct 09, 2018 0.703030 0.718666 0.694247 0.706594 502,257 20,985,507
Oct 08, 2018 0.686057 0.718505 0.672131 0.701419 1,007,660 20,478,852
Oct 07, 2018 0.676087 0.687613 0.665065 0.683358 516,921 20,181,249
Oct 06, 2018 0.692291 0.692291 0.671357 0.673540 1,047,810 20,664,925
Oct 05, 2018 0.712949 0.723691 0.683215 0.691384 2,578,120 20,765,586
Oct 04, 2018 0.661848 0.705206 0.657485 0.703411 6,949,500 18,778,609
Oct 03, 2018 0.681177 0.687643 0.650617 0.662200 884,460 19,327,041
Oct 02, 2018 0.696299 0.701010 0.678452 0.678452 1,080,590 19,458,581
Oct 01, 2018 0.686895 0.704758 0.677282 0.695679 4,270,390 19,195,781
Sep 30, 2018 0.705543 0.708000 0.679049 0.691777 627,620 19,575,803
Sep 29, 2018 0.702555 0.755873 0.687263 0.704515 2,661,420 19,492,891
Sep 28, 2018 0.695115 0.721946 0.689338 0.703049 1,386,730 19,286,480
Sep 27, 2018 0.679012 0.714732 0.664650 0.696353 1,648,310 18,839,687
Sep 26, 2018 0.660848 0.681643 0.652215 0.674037 869,762 18,335,711
Sep 25, 2018 0.687093 0.701394 0.648521 0.661163 2,282,450 19,063,889
Sep 24, 2018 0.706655 0.722212 0.672067 0.687845 1,971,480 19,606,649
Sep 23, 2018 0.704849 0.726436 0.683326 0.708573 911,780 19,556,533
Sep 22, 2018 0.714510 0.726447 0.665924 0.701993 2,142,640 19,824,590
Sep 21, 2018 0.691983 0.729684 0.689401 0.711381 1,471,680 19,199,565
Sep 20, 2018 0.681566 0.721904 0.668069 0.687043 3,160,600 18,794,115
Sep 19, 2018 0.698012 0.707712 0.651119 0.682364 1,895,460 19,247,608
Sep 18, 2018 0.686782 0.724265 0.670296 0.694457 2,420,920 18,861,697
Sep 17, 2018 0.766246 0.783749 0.679128 0.684472 3,007,960 21,044,089
Sep 16, 2018 0.811918 0.817420 0.742903 0.765002 1,196,880 22,298,436
Sep 15, 2018 0.849938 0.909278 0.801059 0.815105 2,076,500 23,172,612
Sep 14, 2018 0.779338 0.926087 0.726557 0.852616 3,528,060 21,247,774
Sep 13, 2018 0.744781 0.800747 0.717367 0.778948 1,549,000 20,086,100
Sep 12, 2018 0.666785 0.807817 0.658643 0.744376 3,471,360 17,982,620
Sep 11, 2018 0.670246 0.686896 0.623496 0.663822 1,291,680 18,075,961
Sep 10, 2018 0.630116 0.690936 0.628065 0.671294 2,195,030 16,867,668
Sep 09, 2018 0.631925 0.665348 0.608172 0.627381 714,230 16,916,079
Sep 08, 2018 0.710861 0.734817 0.619745 0.632140 844,446 19,029,151
Sep 07, 2018 0.679565 0.718964 0.641235 0.710656 2,526,860 18,191,380
Sep 06, 2018 0.632700 0.725735 0.579692 0.680824 2,806,150 16,746,830
Sep 05, 2018 0.813291 0.863233 0.632075 0.632075 4,675,350 21,364,215
Sep 04, 2018 0.720713 0.820192 0.716056 0.797682 2,120,750 18,788,158
Sep 03, 2018 0.712373 0.745102 0.687764 0.722532 1,215,720 18,570,741
Sep 02, 2018 0.683484 0.732030 0.672266 0.710609 1,069,230 17,817,642
Sep 01, 2018 0.648926 0.700744 0.648926 0.683639 694,353 16,786,953
Aug 31, 2018 0.640045 0.699564 0.630232 0.649687 1,376,680 16,429,214
Aug 30, 2018 0.677313 0.679890 0.611619 0.635988 669,348 17,385,835
Aug 29, 2018 0.708754 0.711917 0.675100 0.675162 485,149 18,192,884
Aug 28, 2018 0.707962 0.733607 0.694579 0.707263 1,124,220 18,172,567
Aug 27, 2018 0.668299 0.723756 0.652347 0.711314 1,250,160 17,154,461
Aug 26, 2018 0.655996 1.07 0.622123 0.665901 992,668 16,838,650
Aug 25, 2018 0.610373 0.668595 0.596400 0.656213 1,101,980 15,667,557
Aug 24, 2018 0.581817 0.634532 0.571086 0.629604 718,607 14,818,201
Aug 23, 2018 0.545443 0.586652 0.543747 0.579905 683,295 13,891,789
Aug 22, 2018 0.589137 0.623221 0.531143 0.552046 967,528 15,004,619
Aug 21, 2018 0.580628 0.603960 0.570822 0.587893 449,112 14,787,91
Aug 20, 2018 0.628221 0.644216 0.584461 0.585555 937,690 16,000,049
Aug 19, 2018 0.603745 0.645074 0.597749 0.630397 687,411 15,376,687
Aug 18, 2018 0.671417 0.693572 0.589221 0.603599 1,131,810 17,100,206
Aug 17, 2018 0.598040 0.678694 0.598007 0.670804 940,056 15,111,780
Aug 16, 2018 0.597727 0.616615 0.584452 0.601170 498,379 15,086,779
Aug 15, 2018 0.571366 0.649426 0.563865 0.598329 1,011,570 14,421,408
Aug 14, 2018 0.639315 0.641452 0.517943 0.554014 638,313 16,136,477
Aug 13, 2018 0.727199 0.741675 0.632337 0.643196 585,695 18,354,679
Aug 12, 2018 0.708438 0.734366 0.689109 0.726664 795,895 17,881,154
Aug 11, 2018 0.777452 0.777452 0.692033 0.713584 670,738 19,623,076
Aug 10, 2018 0.854784 0.864863 0.768259 0.780520 562,674 21,574,950
Aug 09, 2018 0.810547 0.869812 0.797415 0.857478 1,115,280 20,458,405
Aug 08, 2018 0.930495 0.930495 0.814885 0.818239 823,072 23,485,927
Aug 07, 2018 0.968683 1.03 0.931690 0.931690 1,157,510 24,449,790
Aug 06, 2018 0.995731 1.01 0.949935 0.970052 1,325,340 25,132,485
Aug 05, 2018 0.956921 1.04 0.956921 0.991715 1,881,320 24,152,918
Aug 04, 2018 1.02 1.03 0.934616 0.951321 621,174 25,827,084
Aug 03, 2018 1.05 1.06 0.966859 1.02 722,093 26,619,513
Aug 02, 2018 1.09 1.11 1.04 1.06 1,150,170 27,549,356
Aug 01, 2018 1.15 1.15 1.07 1.10 990,628 29,051,957
Jul 31, 2018 1.26 1.26 1.11 1.14 1,555,030 31,852,990
Jul 30, 2018 1.34 1.34 1.22 1.26 2,310,350 33,863,573
Jul 29, 2018 1.33 1.35 1.29 1.34 680,393 33,506,170
Jul 28, 2018 1.32 1.36 1.28 1.33 2,029,360 33,238,876
Jul 27, 2018 1.29 1.34 1.24 1.31 2,642,530 32,567,234
Jul 26, 2018 1.34 1.40 1.27 1.29 3,712,160 33,730,304
Jul 25, 2018 1.29 1.35 1.27 1.33 4,274,640 32,596,800
Jul 24, 2018 1.30 1.32 1.22 1.30 2,733,970 32,767,600
Jul 23, 2018 1.34 1.37 1.29 1.30 2,256,080 33,913,300
Jul 22, 2018 1.34 1.38 1.30 1.34 1,713,780 33,836,800
Jul 21, 2018 1.35 1.37 1.29 1.34 2,756,240 34,040,000
Jul 20, 2018 1.41 1.57 1.27 1.33 5,833,850 35,495,900
Jul 19, 2018 1.45 1.49 1.38 1.41 2,315,360 36,503,400
Jul 18, 2018 1.42 1.57 1.41 1.46 3,878,680 35,783,100
Jul 17, 2018 1.35 1.45 1.30 1.42 2,412,230 34,124,100
Jul 16, 2018 1.27 1.35 1.23 1.35 2,445,760 31,990,500
Jul 15, 2018 1.20 1.31 1.19 1.27 1,803,610 30,294,100
Jul 14, 2018 1.23 1.24 1.17 1.20 597,621 31,113,400
Jul 12, 2018 1.27 1.28 1.17 1.20 747,692 32,008,900
Jul 11, 2018 1.28 1.31 1.25 1.28 1,030,270 32,281,600
Jul 10, 2018 1.44 1.45 1.28 1.29 1,392,190 36,197,600
Jul 09, 2018 1.57 1.57 1.43 1.45 1,419,950 39,357,500
Jul 08, 2018 1.55 1.60 1.48 1.57 1,875,030 38,984,500
Jul 07, 2018 1.65 1.65 1.47 1.56 2,514,420 41,407,400
Jul 06, 2018 1.38 1.91 1.26 1.66 11,405,000 34,554,800
Jul 05, 2018 1.42 1.45 1.33 1.37 1,098,600 35,774,400
Jul 04, 2018 1.37 1.48 1.33 1.42 786,914 34,334,700
Jul 03, 2018 1.42 1.52 1.34 1.36 1,658,950 35,672,400
Jul 02, 2018 1.30 1.46 1.29 1.42 1,569,330 32,622,600
Jul 01, 2018 1.33 1.36 1.27 1.30 1,596,250 33,382,500
Jun 30, 2018 1.24 1.35 1.24 1.34 1,083,720 31,197,900
Jun 29, 2018 1.20 1.25 1.12 1.23 1,172,040 30,189,500
Jun 28, 2018 1.29 1.31 1.19 1.20 1,545,920 32,488,400
Jun 27, 2018 1.28 1.31 1.24 1.30 717,784 32,189,800
Jun 26, 2018 1.38 1.38 1.28 1.28 1,405,470 34,684,500
Jun 25, 2018 1.28 1.38 1.24 1.38 2,036,920 32,043,400
Jun 24, 2018 1.36 1.36 1.18 1.27 964,918 34,268,800
Jun 23, 2018 1.46 1.49 1.33 1.36 2,024,580 36,676,600
Jun 22, 2018 1.79 1.80 1.43 1.46 1,040,290 45,016,300
Jun 21, 2018 1.83 1.89 1.79 1.80 1,701,710 45,984,700
Jun 20, 2018 1.94 1.95 1.78 1.84 1,475,510 48,762,200
Jun 19, 2018 2.00 2.02 1.92 1.92 1,132,420 50,174,600
Jun 18, 2018 1.98 2.02 1.83 2.00 1,144,790 49,681,300
Jun 17, 2018 1.97 2.00 1.91 1.98 1,468,720 49,382,700
Jun 16, 2018 1.88 1.97 1.88 1.96 2,258,220 47,181,000
Jun 15, 2018 1.98 1.99 1.85 1.88 952,625 49,760,100
Jun 14, 2018 1.79 2.09 1.78 1.98 1,360,980 44,865,900
Jun 13, 2018 1.94 1.96 1.74 1.78 745,329 48,804,000
Jun 12, 2018 2.20 2.28 1.91 1.95 1,693,350 55,177,800
Jun 11, 2018 2.11 2.21 2.02 2.20 1,292,760 52,933,600
Jun 10, 2018 2.53 2.53 2.08 2.10 1,358,470 63,634,800
Jun 09, 2018 2.70 2.73 2.51 2.52 1,168,310 67,915,800
Jun 08, 2018 2.76 2.81 2.62 2.71 12,553,200 69,340,500
Jun 07, 2018 2.68 2.82 2.68 2.77 15,115,300 67,462,600
Jun 06, 2018 2.75 2.75 2.64 2.69 10,192,100 67,739,800
Jun 05, 2018 2.78 2.80 2.61 2.75 12,909,700 68,358,200
Jun 04, 2018 2.99 2.99 2.76 2.77 11,802,100 72,277,600
Jun 03, 2018 2.97 3.03 2.93 2.97 5,437,410 71,886,200
Jun 02, 2018 2.92 3.02 2.88 2.96 11,952,200 70,736,400
Jun 01, 2018 2.99 3.01 2.88 2.92 11,932,300 72,335,800
May 31, 2018 2.99 3.13 2.95 2.98 12,376,600 72,358,400
May 30, 2018 2.72 3.15 2.72 2.98 13,029,200 65,826,600
May 29, 2018 2.50 2.79 2.46 2.74 11,957,400 60,410,600
May 28, 2018 2.89 2.92 2.50 2.50 11,433,400 69,891,200
May 27, 2018 2.92 2.95 2.84 2.91 12,010,500 70,733,100
May 26, 2018 2.91 3.00 2.88 2.91 802,958 70,516,200
May 25, 2018 3.14 3.14 2.88 2.91 9,332,290 75,977,000
May 24, 2018 2.92 3.16 2.80 3.12 9,862,260 70,725,600
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Metal Cryptocurrency Recent News and Development

  • Metal cryptocurrency is one of the few digital currencies out there that followed a different path than its peers. It peaked in its value shortly after being launched. The token reached its highest point slightly above the $13.50 mark before gradually dropping down to its previous levels close to $4.50.
  • Its value spiked once again in the months of December and January - right around the time when Bitcoin and Ethereum were surging exponentially. This time, however, it managed to gain as much 100% to go slightly beyond the $10 mark. The Metal token failed to find a steady heading thereafter and consequently, by the end of January, it was back to its previous levels below $5.
  • Through the remainder of the year, the cryptocurrency continued to lose its value. It was traded at levels varying from $3 - $5 without incurring any sharp gains or losses. Things changed in June when its value plummeted further and it went below the $3 mark. By July, the token was being traded slightly close to the $1.50 mark and the same, by August, had dropped below the $1 mark.
  • Through the months of September, October, and most of November, the cryptocurrency stayed close to $0.60 mark.

Risks associated with Metal Tokens

As seen in the table above, Metal token is subjected to extreme levels of volatility. Just like every other cryptocurrency out there, it has lost a tremendous amount of value in a matter of hours, if not days. Even though it has the promise of delivering strong returns in a very short span of time, the risks of trading in cryptocurrency far outweigh these promises. Furthermore, the legality of these cryptocurrencies is another issue that has put the prices on a downward trajectory. As more and more governments across the world crackdown on these virtual currencies, it becomes increasingly difficult to not only hold on to cryptocurrencies but also expect an appreciation in value.

In the long run, traditional investments have always fared better. That’s why, if you are looking to invest your hard-earned money, then we strongly suggest you consider mutual funds instead of risking it in cryptocurrencies. Investing a little every month in a good mutual fund will deliver excellent returns in the long run.

Disclaimer:

"The Reserve Bank of India (RBI) and Ministry of Finance has frequently cautioned the users, holders and traders of virtual currencies regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with virtual currencies. RBI also further clarified that it has not given any licence/authorisation to any entity/company to operate schemes or deals related to Bitcoin or any virtual currency. RBI has also barred its regulated entities from dealing or providing services to any individual or business entities dealing with cryptocurrency. The Ministry of Finance has also officially stated that virtual currencies are not legal tender or coin.

A&A Dukaan Financial Service Private Limited (“BankBazaar”) does not endorse investing or dealing in virtual currencies in any manner. The information provided on our website is solely for illustrative purposes and should not constitute investment advice or assistance in investing or dealing with crypto currencies. If you decide to invest or deal in cryptocurrencies, you should be aware that you will be dealing with the respective individuals or business entities dealing in cryptocurrency and BankBazaar has no role in any manner in such transactions or dealings. We strongly advise our visitors to invest in legally recognised financial instruments rather than risking their capital on virtual currencies which are unregulated instruments."

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