With an ongoing crypto winter leaving many investors dissatisfied with subpar gains (if any) in 2022, 2023 is expected to bring greener pastures. While many tokens are predicted to make a roaring comeback, there’s one in particular that many have recently placed big bets on. It’s called Metacade, and the hype surrounding the project has led to continuous sellouts during its token presale. Read on to find out why.
The Ongoing Crypto Winter Has Left Many Investors Feeling Frosty
Following rising inflation, interest rate hikes, and the downfall of some of crypto’s most prominent players in 2022, many projects are down significantly from their 2021 highs during the current crypto winter. Bitcoin – often regarded as the benchmark for crypto performance – fell 77.5% from its $69,000 high in November 2021 to a low of $15,476 roughly a year later.
Altcoins like DOT plummeted over -92% in the same period, while others have shown a little more resilience. TRX, for example, has roughly matched BTC’s performance, falling -74.9% from its 2021 high to its 2022 low. While prices have made a slight resurgence in early 2023, some still consider the crypto winter woes to be far from over. Despite this ongoing bearishness, one token has been attracting millions in investment: Metacade.
What is Metacade (MCADE)?
Metacade is a play-to-earn (P2E) community hub that’s aiming to be an early leader in the GameFi revolution. Its goal is to be the number one place in Web3 to explore, learn, and make the most of P2E gaming. Metacade gives players all the tools they need to get ahead in this fast-growing space, like dedicated forums, reviews, game leaderboards, and leading GameFi alpha shared by P2E veterans.
Moreover, it fosters a loyal community by giving players as much value as possible. Alongside regular tournaments, prize draws, and competitions, Metacade is using the power of decentralization and crypto for good, rewarding players for their contributions and giving them a say in the games they’ll be playing. There are even plans for a job board and for the project to transition into a decentralized autonomous organization (DAO).
A Deep Dive Into Metacade’s (MCADE) Key Features
Traditionally, gamers are invited to share reviews and tips with others without receiving anything for their efforts. Who benefits from this? Primarily the platform hosting these reviews and tips.
Metacade realizes this, and instead of benefiting and giving nothing back, it’s paying users directly with the MCADE token for their role in growing the community. That means even if you’re just getting started in P2E, you can earn by simply sharing your opinions on a new game you’ve been playing or posting tips that other players can use to get ahead.
In late 2023, Metacade will also be awarding its first Metagrant. Metagrants enable the community to direct the project’s funds toward selected game developers, intending to finance the next generation of community-backed P2E games. Developers enter their game proposals into one of the Metagrant competitions, and the idea that earns the most votes from MCADE holders is awarded funding from the treasury.
The finished title is hosted in Metacade’s virtual arcade for anyone to log on and enjoy. All it would take is one groundbreaking game to be produced by the community, and Metacade could be thrust into the mainstream media spotlight, sending the MCADE token soaring.
As mentioned, Metacade will also be launching a job board. Expected in 2024, this board will feature casual gigs, part-time roles, and full-time positions working with Web3 and GameFi titans. Whether you’re interested in testing games using Metacade’s testing environment for some extra income or looking to get your foot in the door as a game developer, you’re bound to find something that suits your skills.
Finally, Metacade will fully transition to a DAO in late 2024. While the groundwork is expected to be laid as early as Q2 2023, this transition will see the core Metacade team stepping down and handing the reins over to elected Metacade members. From this point forward, MCADE holders will determine the future of the world’s first democratically-run virtual arcade.
Metacade (MCADE) Might Just Be One of the Best Performers of 2023
So just how well has Metacade been performing in presale, despite the ongoing crypto winter? In the first seven weeks of the MCADE presale, approximately $3.4m million has been raised by thousands of investors across the globe.
The price of MCADE tokens has already risen from the starting price of $0.008 to $0.012, with prices expected to reach $0.02 by the end of its presale. However, many analysts believe MCADE has much more room to grow, with some setting targets of at least $0.20 by the end of 2023 if the crypto winter subsides as forecast.
This is supported by the fact that GameFi is set to take off this year. Absolute Reports puts the industry’s annual growth rate at 20.4% between 2022 and 2028, while Crypto.com predicts that it will grow much faster, at a rate of 100% per year. Given how critical social hubs are to gamers and Metacade’s first-mover advantage, it could soon become the premier destination for all things P2E.
If you think Metacade is on to something, then check out the MCADE presale as soon as possible. Time is quickly running out to grab MCADE tokens at $0.012 before it moves on to the next stage of presale!
You can participate in the Metacade presale here.
The post Metacade’s (MCADE) Presale Is Selling Out Amid the Crypto Winter – Here’s Why appeared first on CoinJournal.
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4 bearish factors for Bitcoin this week
The Federal Reserve meeting scheduled on Wednesday may be hawkish for the dollar Bitcoin might give up some of its 2023 gains on a hawkish Fed All eyes are on the Fed’s view on inflation, growth, future interest rates, and quantitative tightening The Federal Reserve’s monetary policy decision is scheduled this week. It is the […]
- The Federal Reserve meeting scheduled on Wednesday may be hawkish for the dollar
- Bitcoin might give up some of its 2023 gains on a hawkish Fed
- All eyes are on the Fed’s view on inflation, growth, future interest rates, and quantitative tightening
The Federal Reserve’s monetary policy decision is scheduled this week. It is the first time the FOMC (Federal Open Market Committee) meets in 2023, and the stakes are high for the US dollar.
Bitcoin has strengthened against the US dollar in January so far, in sync with other fiat currencies. Therefore, whatever the Fed decides on Wednesday will affect Bitcoin price too.
A hawkish Fed may turn up being bearish for Bitcoin. These are the four areas where the Fed may express its hawkishness: inflation outlook, growth outlook, interest rates level, and quantitative tightening.
The Fed is committed to bringing inflation to its 2% target. This is why it has raised rates so aggressively, so if the Fed says that inflation is embedded and upside risks remain, then the US dollar should move higher.
In this scenario, the market will bet that the Fed sees ongoing rate hikes as appropriate.
The currency stance is that a sustained period of below-trend growth is likely. If the Fed changed its view and sees recession required to have a material impact on the inflation outlook, that would also trigger a sharp move higher in the dollar.
Ultimately, it is all about the interest rate level. The funds rate range has reached 4.25%-4.50%, and all eyes are on what the Fed does and says on Wednesday.
The base case scenario is that the Fed will hike by 25bp and says that ongoing interest rate increases are appropriate. Therefore, anything more than that should be bullish for the dollar and bearish for Bitcoin.
For example, the Fed might hike 50bp. This is a risk going into the meeting, especially considering that inflation is not backing down as fast as initially thought.
The Fed currently shrinks the balance sheet at a pace of $95 billion/month. A decision to accelerate the balance sheet reduction would be very hawkish for the dollar.
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Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News