Metahero (HERO) price surged by over 5% yesterday and slid back to red: here is why

Due to market uncertainty, the HERO coin has been one of the most volatile cryptocurrencies over the past month. Yesterday it surged by more than 5% but later dropped to today’s 8.74% price drop%. 

But why did the coin rise yesterday and why was the rise too shallow. In this article, we will look at the possible reasons behind yesterday’s uptrend.

Metahero background

But before we delve into these reasons it’s important, we first enlighten those who might be coming across the term ‘Metahero’ for the first time.

In a nutshell, Metahero is a crypto coin metaverse launched in July 2021 with a vision to create an ultra-realistic digital world where users can scan real-world humans and objects into the Metaverse.

It partnered with the leading 3D 16k scanning technology and also the leading gaming industry, Wolf Digital World (WDW), to aid its vision.

Metahero Metascanner on site at FAME MMA # 14

One of the main reasons why Metahero’s price is rallying is the current development it’s undertaking with the recent one being the sponsorship from the FAME MMA event where they will make their first traveling scanner (Metascanner) available on site. All the users will have an opportunity to check this one out.

This event is scheduled to take place next month, on May 14. 

Metahero’s Everdome NFT drop

Another reason that has highly contributed to the recent bullish trend is after Everdome (Metahero’s Metaverse) finished the Genesis NFT drop snapshots last week.

DOME (Everdome native token) holders will be allowed to claim founding keys to Everdome.

📷 The Genesis NFT snapshot has been taken.

With this snapshot, 9,999 DOME holders have been given the opportunity to claim founding keys to Everdome.🚀

👉 https://t.co/pXmw7zHFHk

Details on when/how to claim your Genesis #NFT coming very soon. #TheJourneyHasBegun pic.twitter.com/hRxr92w3gK

— Everdome (@Everdome_io) April 27, 2022

HERO staking announcement

Another reason that might have spiked the rally to some extent is after Metahero announced last week that HERO staking was going to commence on April 22 on a new centralized exchange, Kanga.

https://metahero.io/news/hero-staking

However, according to the announcement, the withdrawn tokens will be locked for 7 days and APYs generated automatically based on Kanga’s system.