Respected Bloomberg senior commodity strategist Mike McGlone has caused waves in crypto markets by going public with his assertion that the crypto market is beginning its first significant recession and indicates there is a long way to go before currencies recover to previous levels.

One coin unaffected by sluggish performance in the crypto market is Metacade’s MCADE coin which continues to perform well in its presale event. This has led experts to question if we are in a recession, and if so, how will it impact new coins like MCADE?

After early indicators in the opening weeks of 2023, the crypto market showed signs of recovery, with Bitcoin (BTC) trading above $20,000 again and leading higher gains throughout markets. However, February has seen BTC values fall below $23,000, leading to McGlone’s assertion that we are in a recession characterized by lower prices and higher volatility than before.

This confirms the fears many traders felt that BTC’s price trend is pointing towards a comedown, with a fall below $22,500 being the point at which bearish performance would be confirmed and hopes of a return to more bullish market conditions recede.

Brand-new GameFi title Metacade continues to exceed general market performance during the presale event of its native MCADE token. After launching at $0.008 late in 2022, MCADE has picked up serious momentum, raising $10.9m in just 16 weeks.

The speed at which the MCADE presale event continues to gather momentum is excellent news for early investors that have already taken advantage of the promise shown by Metacade and equally good news for those pondering which new investments to back during the prolonged bearish conditions.

Metacade is building the world’s biggest online virtual arcade, combining classic arcade titles from yesteryear with modern Web3-designed future classics. At the heart of Metacade’s offering is its unrivaled play-to-earn (P2E) mechanics that will provide its users with a steady income stream as they play the games they love most alongside friends and new competitors in the Metacade community.

While the platform’s vast P2E arcade is the main focal point of Metacade’s ecosystem, there is much more to the project than the range of arcade games. Each facet of Metacade’s platform brings holistic benefits to the community, which forms the beating heart of its plans.

The platform will bring an exhaustive rewards system to the GameFi industry that goes far beyond the usual P2E offering on the market. Metacade’s other three chief income streams are Create2Earn, which rewards users for interacting socially with the hub, Compete2Earn, where users can stake tokens for entry into competitive online tournaments, and its Work2Earn scheme that looks set to push the entire GameFi sector forward.

The fuel that feeds Metacade’s engine is the MCADE token, a coin used across the platform and as the medium of exchange. MCADE will be used to buy merchandise and as the currency by which users can enter tournaments and prize draws, as well as access the range of pay-to-play titles.

MCADE’s tokenomics have been well-thought with the two billion token supply offering coin holders exceptional levels of utility. Coin holders can stake their tokens to leverage their holding to earn passive income and invest in the platform. At the same time, funding will also be sourced from external advertisers, outside gaming studios who want to release their games on Metacade, and Web3 firms posting job vacancies on its job board.

One of the most exciting features of Metacade’s whitepaper is their pioneering Metagrants program which launches in Q3 2023. Designed to bring exciting new addictive titles to Metacade’s virtual floor, Metagrants will also fund the next wave of blockchain game developers.

Developers submit applications for funding to support the design and creation of new GameFi titles. Each submission is pooled and presented to Metacade’s community of MCADE coin holders who vote for their favorites. The ideas with the most votes receive a crypto grant and go into production, with the first game to hit Metacade in Q1 2024.

As well as putting GameFi innovation at the center of their platform and driving the entire sector forward, the experience gained by developers will help them push their full-time careers in Web3 blockchain game design forward by enabling them to elevate their CVs. Once the job board goes live in 2024, the Web3 industry will have access to the world’s hottest new blockchain development talent.

Whether the crypto market is in recession or not, the MCADE presale represents a rare and outstanding opportunity to get involved in a token with immense utility, excellent tokenomics, and an incredibly bright community-led future at an extremely low price.

Currently trading at $0.0185 in final stage of the presale, the value will increase to $0.02 at the final stage of presale. With a limited supply of tokens available, demand for MCADE looks likely to skyrocket when it lands on exchanges. 

You can participate in the Metacade presale here.

The post Bloomberg Writer Says Crypto Recession is Just Starting – Metacade (MCADE) Performs Well in Presale appeared first on CoinJournal.

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