Here’s Why Metal DAO’s MTL Crypto Price Is Pumping: Analysts Share Price Targets

Metal DAO's MTL token has experienced a 15% rise in price action today. This surge comes as the project prepares for a major upgrade and migration to its own Layer 2 network.

Metal DAO’s (CRYPTO: MTL) MTL token price experienced a 15% surge during Wednesday’s trading session.

The surge comes as the project prepares for a major upgrade, including an airdrop of the new MTL v2 token. Here's a closer look at the upgrade and other developments.

The recent price action appears to be driven by anticipation of a significant upgrade to the Metal DAO ecosystem. According to an announcement from the official Metal L2 X account, the project is planning a smart contract upgrade that includes an airdrop of the new MTL v2 token.

Metal DAO (MTL) will be performing a smart contract upgrade, which includes an airdrop of the MTL v2 token. To ensure you are included in the airdrop please read the following guide. https://t.co/RmjOoDLQ0f

Key details of the upgrade and airdrop:

The upgrade follows the successful passage of the Metal DAO governance proposal MIP-001 on April 5, 2024. This proposal outlined plans for transitioning to Metal L2 and allocating funds for development and maintenance.

The MTL v2 token will be dropped to holders of MTL tokens at a 1:1 ratio, with a snapshot being taken at a yet-to-be-announced date and time.

To be eligible for the airdrop, users are advised to hold their MTL tokens on supported platforms, such as Metal Pay, WebAuth or Metal X.

Those holding MTL tokens in other wallets will need to migrate their tokens to one of the supported solutions before the snapshot date.

After the upgrade, MTL tokens will continue to be available on centralized exchanges (CEX) and will be bridgeable to other Layer 1 (L1) and L2 networks, offering users greater flexibility in utilizing the token.

Moreover, Metal Pay, WebAuth and Metal X will support the new MTL v2 token, enabling users to seamlessly send, receive and store the token.

MTL Price Predictions: Where Next For MTL Crypto Price?

As the MTL token continues to gain traction, several analysts have shared their price targets and technical analysis.

According to Gov Capital’s analysis, MTL could reach a maximum price of $10.38 by 2025.

Wallet Investor’s technical analysis provides a more optimistic outlook, suggesting that MTL could reach levels as high as $15.34 in one year and $34.17 in five years.

These predictions indicate a potential upside of 53% to 130% from the current price levels, assuming the bullish trend continues.