Metastrike, a lesser-known cryptocurrency, experienced a significant surge in price recently, causing a stir among investors seeking to understand the sudden rally.

The metaverse alt-coin Metastrike (MTS) skyrocketed from $0.0092 to $0.01871 within a 24-hour trading period, marking a remarkable 101% increase in trading volume by Jan. 5.

During this time, trading volume surged from $90,000 to over $1.27 million across various exchanges. KuCoin accounted for 64.33% of this volume, followed by PancakeSwap with 18.33% and Gate.io with 16.3%.

An analysis of on-chain activity revealed some intriguing patterns. Certain addresses were observed purchasing small amounts of MTS and then quickly selling it on PancakeSwap. This automated behavior, witnessed in numerous transactions, raised the token’s trading volume significantly.

The exact purpose behind this automated trading activity remains unclear. One theory suggests arbitrage between centralized and decentralized exchanges, while another implies profit maximization and risk reduction in response to Metastrike’s extreme price volatility.

Metastrike positions itself as a blockchain-based multiplayer shooting game where players can own NFT guns, engage in virtual battles, and customize weapons and avatars while earning rewards through in-game events.

Despite the surge in price and trading volume, developers of Metastrike have not released any announcements explaining this sudden increase.

According to Santiment’s crypto social media trends data, Metastrike does not rank among the top ten most discussed cryptocurrencies on social platforms. Its social dominance, while rising, remains relatively low at 0.031% as of the latest data.

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