In today’s article, we’ll first ensure you get to meet the Myria crypto project. As such, we’ll explain what Myria is all about and even take a look at some of the project’s core aspects. However, as altcoin investors/traders, we’ll mainly focus on the MYRIA token.
So, after ensuring you all know the gist of this project, we’ll take a closer look at $MYRIA. Thus, we’ll cover the token’s basics, explain its purpose and use cases, and go over its tokenomics.
Of course, we’ll also analyze the asset’s price performance so far. This is where we’ll use the basics of technical analysis (TA) to outline the token’s key levels of support and resistance. Moreover, we’ll also run the MYRIA crypto token by the best crypto charting tool – Money Line.
In addition, you’ll also have an opportunity to learn how to use the power of Moralis Money to help you determine if/when to buy $MYRIA.
Nonetheless, for those of you who may decide to buy this Web3 gaming token, we’ll explain where you can do that.
What is the Myria Crypto Project?
The Myria crypto project presents itself as a cutting-edge Ethereum Layer 2 (L2) scaling solution designed to revolutionize the world of blockchain gaming and NFTs. The network was developed in collaboration with StarkWare, which enables it to provide a seamless and secure environment for developers and users. The two core advantages of the Myria network are transaction speed and no gas fees.
Make sure to dive into the subsection below to learn more about the key aspects of the Myria project. However, if you are a developer interested in building on Myria, make sure to visit the project’s official website and documentation.
Myria L2 Scaling Protocol
As mentioned above, Myria’s L2 scaling protocol is built on the Ethereum network. The protocol’s goal is to ensure a robust foundation in terms of security and decentralization. Furthermore, it employs Zero-Knowledge Rollup (ZK-Rollup) technology, specifically ZK-STARK, allowing for the bundling of numerous transactions into a single proof.
As a result, the Myria crypto network is capable of facilitating a staggering 9,000 transactions per second with zero gas fees. And it is this speed and fee-lees transactions that make this L2 ideal for high-velocity use cases like blockchain gaming.
Myria Infrastructure and Order Book Solutions
Myria’s infrastructure includes an in-browser wallet and an NFT marketplace, offering a seamless experience for users. Moreover, the platform also addresses the order book fragmentation issue. It does so by introducing universal order books, which allow orders created in one marketplace to be filled in another.
In addition, Myria emphasizes regulatory compliance, ensuring adherence to AML and KYC legislation. This further eliminates any potential guesswork for the Web3 game developers who may be worried about the laws regarding the emerging Web3 solutions.
Myria Crypto’s Node Ecosystem
Myria nodes form the backbone of this Web3 L2 ecosystem. The total number of the network’s nodes is limited to 40,000. The purpose of these nodes is to contribute to activities such as network tests, decentralized data storage, oracles, and governance. Plus, they play a pivotal role in maintaining the decentralization and security of the Myria ecosystem.
Developer-Friendly Tools and APIs
Myria points out that it prioritizes simplicity for developers by offering a suite of tools, including the Myria Core SDK and APIs. These tools streamline the process of project registration, collection creation, and asset minting on the Myria L2 protocol. According to the project’s documentation, these tools abstract away complexities. As such, developers can effortlessly interact with the blockchain, bypassing the need for intricate languages like Solidity or Cairo.
Note: Whether you wish to build using the Myria SDK and APIs or are perhaps interested in joining the project’s core team or its community, you ought to explore the Myria official website. There, you can find all the information and links to the Myria socials, docs, and more.
What is the MYRIA Crypto Token?
The MYRIA crypto token is the native utility token of the Myria ecosystem. This cryptocurrency lives on the Ethereum chain, where it follows the ERC-20 token standard. As such, it’s safe to say that in a way $MYRIA is fueling a decentralized and innovative approach to blockchain gaming and NFT experiences. After all, as the digital heartbeat of Myria, the MYRIA token plays a pivotal role in facilitating transactions, governance, and ecosystem growth.
MYRIA is more than just a cryptocurrency; it’s a dynamic utility token designed to empower users, developers, and node operators within the Myria ecosystem. With a total supply of 50 billion MYRIA tokens, its strategic distribution and allocation contribute to the longevity and sustainability of the project.
MYRIA’s Purpose and Utility
At its essence, the MYRIA token serves as the primary medium for transactions on the Myria L2 scaling protocol. Beyond mere transactions, the token also embodies community ownership. Thus, it aligns the incentives of stakeholders within the ecosystem. After all, $MYRIA holders are vested participants with a shared interest in advancing the Myria project.
These are the token MYRIA crypto asset’s use cases:
- Protocol Fee: A portion of protocol fees on every Myria transaction is paid in MYRIA tokens. This mechanism not only ensures the continuous demand for the token but also incentivizes users to actively participate in the Myria ecosystem.
- Node Purchase: MYRIA tokens are the exclusive means to purchase Myria nodes.
- Staking Rewards: Users who decide to stake MYRIA get to enjoy staking rewards in the protocol’s native asset.
- Governance: MYRIA token holders hold the key to steering the future direction of Myria. Governance mechanisms allow token holders to vote on crucial decisions, including ecosystem fund allocation, future development initiatives, and the strategic trajectory of the project.
- Exclusive NFT Purchases: MYRIA tokens unlock exclusive opportunities within the Myria ecosystem, including the purchase of unique NFT collections under Myria Studios. This adds a layer of exclusivity and utility to the token within the gaming and NFT marketplace.
- Additional In-Game Utility: By partnering with Web3 games, the project promises that MYRIA will offer added in-game utility inside many of these games.
Tokenomics
With a total supply of 50 billion instances of the MYRIA crypto token, the asset’s distribution follows a strategic unlock schedule. For example, the token generation event (TGE) and liquidity provision immediately unlocked tokens; however, several other allocations unlock $MYRIA over specific periods. This ensures a controlled and sustainable release, which aims to maintain stability and foster a thriving ecosystem.
Here’s an overview of MYRIA’s tokenomics:
- Token’s on-chain name: Myria
- Symbol/ticker: MYRIA or $MYRIA
- Network: Ethereum
- Token type: ERC20
- Smart contract address: 0xA0Ef786Bf476fE0810408CaBA05E536aC800ff86
- Maxim total supply: 50,000,000,000 $MYRIA
- Minting timestamp: March 23, 2023, at 11:18:59 AM (+UTC)
- Initial allocation and related supply schedule:
Note: To explore the current distribution of crypto assets in a user-friendly manner, you can use the crypto bubblemaps. You can find such a map for the Myria token on the Moralis Money $MYRIA page. The link to that page awaits you in the “Should I Buy the MYRIA Crypto?” section below.
$MYRIA Crypto’s Price Analysis
The Myria token started trading on April 6, 2023. After listing at $0.002, the asset increased by five-fold during the first day, reaching as high as $0.01. However, the closing price of the token’s first day was in the $0.007 region.
After a spike in price to $0.0086 on its second day of trading, MYRIA started to experience a bearish sentiment with the rest of the altcoin market at the time. As such, the price started to pull down, eventually reaching below its listing price.
By July 21, 2023, the MYRIA price bottomed at $0.00113. From there, the token started to gain some momentum; however, it didn’t have enough momentum to cross the $0.002 level. As such, it was bound between $0.0012 and $0.0020 until October 9.
On that day, $MYRIA’s price reached $0.0023 and even closed the daily candle just above $0.002. Over the following days, the asset turned the $0.0017 level into support and used it as a stepping stone for a new rally.
Recovery, New Heights, and a Pull Back
On October 15, $MYRIA started a run that initially took the asset’s price to $0.0049 by the end of that month. Next came a three-day retrace, which fund support above $0.0032. From there, the MYRIA crypto token continued to slowly climb higher. However, it essentially consolidated between $0.0036 and $0.0055 until November 22. That day marked the beginning of another MYRIA’s significant run – the one that led to the asset’s new all-time high (ATH).
In eight days, the price increased by nearly 185%, reaching $0.0121 on November 29. Then, the asset retraced by roughly 36% and thus retested its previous ATH region. After turning the $0.0079 area into support, $MYRIA rallied for another 130% increase. This is when the token current ATH was set, which sits at $0.018.
But after that high on December 14, 2023, the asset ran out of steam. Consequently, the MYRIA price shrank by 60% over the next 27 days, finding a new local bottom around $0.007 on January 10, 2024.
Since that low, the price has recovered by roughly 25% and is currently trading near $0.0088.
TA, Money Line, and $MYRIA Crypto’s Price Predictions
In the above $MYRIA daily price chart, we marked the token’s key levels of support and resistance. Judging just by this basic TA tool, it looks like the asset could be slowly getting ready for another move to the upside. After all, it has retested its previous ATH and turned it into support.
Moreover, the price is also breaking out of the sloping trendline, which is often a bullish sign. Plus, the Money Line indicator has flashed two “Bullish” signals since that local low at $0.007:
However, on the daily timeframe, Money Line is still indicating a bearish trend and will turn bullish once the price crosses $0.0104:
Note: You can see in the above screenshot that the traders who listened to Money Line’s signal on the daily timeframe, had no problem buying MYRIA before its rally. So, if you wish to get your hands on this powerful crypto trading tool, make sure to opt in for the Moralis Money Pro or Starter plans. And in case you’re not ready to commit, you can start with a 14-day trial at just $1 per day.
As far as the MYRIA price predictions go, it’s likely that the token will go significantly higher if the bull cycle continues as expected. However, anyone offering exact mid- and long-term price targets will most likely be way off. After all, they are all just guessing.
The only way to make any tangible price predictions is to focus on the asset’s live price and real-time on-chain data. By using the combo of these insights, one can predict short-term price targets with increased likelihood. So, make sure to use the next section, which tells you where to access these types of insights for the MYRIA crypto token.
Should I Buy the MYRIA Crypto?
Using the above-covered details about the Myria crypto project and its native token, you should be able to decide if you find this potential opportunity at all interesting. If yes, then it’s up to you to properly DYOR it.
Luckily, you can do so easily with the use of Moralis Money’s Myria ($MYRIA) token page. The latter offers all the tools and resources you need to answer the above question with confidence.
Moreover, on that page, you can find the asset’s live price and real-time on-chain metrics (a.k.a. Alpha Metrics). As such, you can make tangible short-term MYRIA price predictions. Hence, you can decide at any given moment whether now is a good time to buy this Web3 gaming token.
So, make sure to follow the above “$MYRIA” link or simply use the interactive widget below to decide if/when to buy the Myria crypto.
Where and How to Buy the $MYRIA Crypto?
If you decide you wish to get a bag of $MYRIA, you have several options. Just use the “Market” section on CoinGecko or CoinMarketCap page for that token. There, you’ll find a list of all CEXs and DEXs that offer the relevant training pair, including the trading volume. As such, you can easily pick a market that best suits your goals.
What is Myria Crypto? Full On-Chain Data & Price Charts for MYRIA Token – Key Takeaways
- The Myria crypto project is all about the Myria L2 network, which is poised to support Web3 games.
- This L2 Ethereum network ensures high transaction throughput and requires no gas fees.
- The MYRIA token is an important part of the Myria ecosystem. The asset is used for the protocol fees, the Myria node purchases, the protocol’s staking rewards, governance, exclusive NFT purchases, and additional in-game utilities.
- If the Web3 gaming narrative were to stay strong in 2024, the MYRIA price could go significantly higher.
- To determine if/when to buy $MYRIA, use Moralis Money’s token page dedicated to that cryptocurrency.
- In case you decide to buy MYRIA, find a DEX or CEX that has a sufficient trading volume for that crypto.
Whether you end up buying MYRIA or not, make sure to keep in mind that many other altcoin opportunities deserve your attention.
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