$ 0.9777 USD
$ 0.9777 USD
$ 203,282 0.00 USD
$ 203,282 USD
$ 1,636.93 USD
$ 1,636.93 USD
$ 6,125.78 USD
$ 6,125.78 USD
0.00 0.00 MTR
Issue Time
2000-01-01
Platform pertained to
--
Current price
$0.9777USD
Market Cap
$203,282USD
Volume of Transaction
24h
$1,636.93USD
Circulating supply
0.00MTR
Volume of Transaction
7d
$6,125.78USD
Change
24h
+65.17%
Number of Markets
8
Current Rate0
0.00USD
3H
+90.73%
1D
+65.17%
1W
+91.7%
1M
+106.13%
1Y
+34.57%
All
+35.24%
Aspect | Information |
---|---|
Short Name | MTR |
Full Name | Meter Stable |
Support Exchanges | Gate.io, MEXC Global |
Storage Wallet | WalletConnet, Coinbase connect |
Meter Stable (MTR) is a type of cryptocurrency that belongs to the Meter Ecosystem, which employs an innovative economic and consensus design that separates the provision of stability from the token itself. This is aimed at creating a standard measure of value that can be used across borders. Unlike other cryptocurrencies that are pegged to fiat currencies like the US dollar, the value of MTR is linked to the cost of 10 kilowatthours (kwh) of electricity, a globally recognized and nearly constant value. MTR is worth noting for being a decentralized stablecoin that is systematically minted by the Meter system's proof-of-work mining process. It is designed to avoid volatility, aiming to maintain a stable value regardless of market conditions, making it a potential medium for daily transactions, trading, and preserving value.
Pros | Cons |
---|---|
Decentralized Stablecoin | Dependent on the stability of electricity costs |
Avoids volatility | Proof of Work has a high energy cost |
Systematically minted via Proof of Work | Adoption rate in everyday transactions yet to be determined |
Potential medium for daily transactions | The success of value preservation is market dependent |
Aims to preserve value |
Pros of Meter Stable (MTR) Include:
1. Decentralized Stablecoin: Meter Stable operates on a decentralized network that enhances trust and security. Unlike a centralized platform, the control of the MTR isn't in the hands of a single entity but is distributed across a network of computers. This decreases the chances of fraud and enhances transparency.
2. Avoids Volatility: MTR is designed to avoid the usual volatility seen in many other cryptocurrencies. Its value is linked to the cost of electricity, which remains relatively constant globally, rather than fluctuating market conditions.
3. Systematically Minted via Proof of Work: MTR uses the proof-of-work model for mining new coins. This process involves solving complex mathematical problems to validate transactions and secure the network, providing a fair system where the rewards are proportional to the computing power contributed.
4. Potential Medium for Daily Transactions: MTR can potentially be used for everyday transactions. Its stability aligns it with traditional fiat currencies, making it an attractive proposition for merchants who wish to accept cryptocurrency as a payment method.
5. Aims to Preserve Value: MTR is designed with a goal to act as a store of value. It's aimed toward users who wish to safeguard their assets in a currency that aims to hold its value over time.
Cons of Meter Stable (MTR) Include:
1. Dependent on the Stability of Electricity Costs: While MTR's value is stable and linked to electricity costs, if these costs were to vary significantly globally, this could introduce volatility into the MTR currency.
2. Proof of Work Has a High Energy Cost: Though the proof-of-work system is advantageous in some ways, it's known for its high energy consumption. The environmental impact is a concern for many.
3. Adoption Rate in Everyday Transactions Yet to be Determined: While MTR has the potential to be used for everyday transactions, its adoption rate for this purpose remains to be seen. The acceptance of MTR by traders and consumers will largely determine its success in this area.
4. The Success of Value Preservation is Market Dependent: Despite MTR's design to act as a store of value, its success at preserving value is still affected by market conditions. Shifts in the cryptocurrency market, technological changes, or regulatory impacts could all affect MTR's value.
Meter Stable (MTR) brings innovation to the cryptocurrency sector with its novel economic and consensus design. One of the unique elements of MTR is that it separates the provision of stability from the token itself, a concept not common in most cryptocurrencies. By doing this, it creates a standard measure of value that can potentially be utilized across borders.
Furthermore, unlike many other cryptocurrencies, MTRs value is not pegged to other fiat currencies such as the US dollar. Instead, its value is connected to the cost of 10 kilowatthours (kwh) of electricity, a value that is nearly constant and globally recognized. This approach aims to address the volatility typically associated with the majority of cryptocurrencies.
Additionally, MTR differentiates itself by its mining process. While Proof-of-Work (PoW) is a common mechanism in many cryptocurrencies, MTR coins are systematically minted by the Meter system's PoW mining process, with the goal of maintaining a stable value regardless of market conditions.
Despite these distinctive aspects, it's important to note that MTR's ultimate success largely depends on factors such as market acceptance, regulatory environment, and the stability of electricity prices worldwide.
Meter Stable (MTR) operates through a unique economic design that separates the token's stability provision from the token itself. This design is distinguished by its two-token model: MTR, the stablecoin, and Meter Governance Token (MTRG), which governs the Meter system.
The value of MTR is linked with the cost of 10 kilowatthours of electricity, which is almost a constant value across the globe. This linkage seeks to reduce volatility, a common issue prevalent with most cryptocurrencies.
In terms of issuance, MTR is systematically produced through the Meter system's proof-of-work (PoW) mining process. In this process, miners compete to solve complex mathematical problems, and the winner is rewarded with newly minted MTR. This approach is aimed at maintaining an even distribution and ensures a fair and transparent issuance.
MTR can be used as a medium for daily transactions and for trading in the cryptocurrency market. As a stablecoin, it is also designed to serve as a store of value.
Price fluctuation
The price of MTR has fluctuated since its launch, but has generally remained stable around the $1 peg. The price has been affected by a number of factors, including the overall cryptocurrency market conditions, the demand for MTR, and the supply of MTR.
Mining cap
MTR is not a minable cryptocurrency. Instead, it is issued by Meter.io. The total supply of MTR is limited to 10 billion tokens.
Total circulating supply
According to CoinGecko, the total circulating supply of MTR is currently 4,095,264,622.
Price fluctuation
The price of MTR has fluctuated since its launch, but has generally remained stable around the $1 peg. The price has been affected by a number of factors, including the overall cryptocurrency market conditions, the demand for MTR, and the supply of MTR.
You can buy Meter Stable (MTR) on the following exchanges:
Gate.io
MEXC Global
Here are the steps on how to buy MTR on Gate.io:
Create an account on Gate.io.
Deposit funds into your Gate.io account. You can deposit fiat currency or cryptocurrency.
Search for the MTR/USDT trading pair.
Place a buy order for MTR.
Once your buy order is filled, your MTR tokens will be deposited into your Gate.io account.
Here are the steps on how to buy MTR on MEXC Global:
Create an account on MEXC Global.
Deposit funds into your MEXC Global account. You can deposit fiat currency or cryptocurrency.
Search for the MTR/USDT trading pair
Place a buy order for MTR.
Once your buy order is filled, your MTR tokens will be deposited into your MEXC Global account.
To store Meter Stable (MTR), you can use either WalletConnect or Coinbase Connect.
WalletConnect is a protocol that allows you to connect your cryptocurrency wallet to decentralized applications (dApps). This means that you can use your existing cryptocurrency wallet to store and manage MTR without having to create a new account.
Coinbase Connect is a similar protocol that allows you to connect your Coinbase account to dApps. This means that you can use your Coinbase account to store and manage MTR without having to transfer your funds to a different wallet.
Here are some additional tips for storing MTR securely:
Use a strong password for your wallet or Coinbase account.
Enable two-factor authentication on your wallet or Coinbase account.
Store your wallet's seed phrase in a safe place.
Be careful about clicking on links or opening attachments from unknown senders.
Be aware of phishing scams.
Meter Stable (MTR) can be suitable for individuals who are looking for a cryptocurrency that aims to offer stability and preserve value. This could include users interested in cryptocurrencies as a medium of exchange, rather than for speculative purposes. Given its design, it may also appeal to those looking for potential alternatives to traditional currencies for global transactions, users who wish to hedge against volatility in other cryptocurrencies, or energy sector participants interested in the link between MTR and electricity rates.
However, there's important advice to consider for those looking to buy MTR, or any cryptocurrency:
1. Understand Your Risk Tolerance: Cryptocurrency investments inherently bring risks. Although MTR aims to be stable in value, it should be noted that this does not guarantee absolute safety. Factors such as regulatory changes, shifts in the broader cryptocurrency landscape, and fluctuations in electricity costs can introduce risk. Always invest only what you can afford to lose.
2. Do Your Own Research: Don‘t blindly follow advice from others. Gather information from various sources, including the project’s website, white paper, team profile, and reputable news outlets. Understand the unique value proposition and risks MTR presents compared to other cryptocurrencies.
3. Stay Updated: The cryptocurrency market is very dynamic, and it's important to stay informed of the latest developments not just about MTR, but the entire crypto landscape.
4. Secure Your Investment: If you decide to invest, ensure your MTR tokens are stored safely. Depending on the quantity, consider storing your holdings in a hardware or paper wallet for increased security.
5. Seek Professional Financial Advice: If you are unsure, consult with a financial advisor who is knowledgeable about cryptocurrencies and can provide guidance based on your personal financial situation and goals.
Like any investment, buying MTR should be approached with caution and comprehensive understanding. Always make financial decisions based on informed research and personal financial circumstances.
Meter Stable (MTR) is a cryptocurrency designed to provide stability in an often volatile market. Its value is not directly pegged to a traditional fiat currency or commodity but is linked with the globally recognized and near-constant cost of 10 kilowatthours of electricity. MTR coins are systematically minted via the Meter system's proof-of-work mining process, with plans to serve as a potential medium for daily transactions, trading, and value preservation.
The proposed stability of MTR might make it a promising development in the field of cryptocurrency as it seeks to address one of the key challenges facing digital assets - volatility. Its unique consensus design and the link to electricity costs could potentially act as the edge over other competitors in this space.
The ability for MTR to appreciate in value or to generate financial profits depends largely on various factors. These include user adoption rates, regulatory developments, shifts in the cryptocurrency market, technological changes, and the stability of electricity prices worldwide. It should be noted that all cryptocurrencies, including MTR, carry inherent risks. Therefore, anyone looking to invest should do thorough research and, if necessary, seek advice from a financial advisor. As with all investments, there is no guaranteed return and investors need to be prepared for potential loss.
Q: Does Meter Stable use a proof-of-work mechanism for mining?
A: Yes, Meter Stable employs a proof-of-work system to systematically mint new coins and secure the network.
Q: Is MTR a volatile cryptocurrency?
A: Despite belonging to the typically unpredictable crypto market, MTR aims to minimize volatility through its value peg with the nearly constant global cost of electricity.
Q: Can I use MTR for my daily transactions?
A: While MTR is designed to potentially serve as a medium for everyday transactions, its widespread acceptance and use in routine transactions have yet to be fully established.
Q: Is investing in Meter Stable (MTR) a guaranteed way to make profits?
A: Like any investment, acquiring MTR does not guarantee profits, as its value and potential for appreciation depend on numerous factors, including market acceptance, regulatory shifts, and global electricity price stability.
Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.
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