Metacade Price prediction as MCADE goes to the moon

2023-4-21 07:38

Metacade price has gone bonkers as investors cheer the latest developments in the network and the potential for gaming cryptocurrencies. MCADE token soared to a record high of $0.0342, which was much higher than its year-to-date low of $0.0091. This means that early investors have grown their returns by more than 280%. Its market cap has surged to more than $38 million.

Why did cryptocurrencies crash?

Metacade price has defied gravity in the past few days. For one, most cryptocurrencies like Bitcoin, Binance Coin, Cardano, and Solana have nosedived in the past few sessions. This collapse has brought the total market cap of all cryptocurrencies to more than $1.2 trillion. 

It is unclear why cryptocurrencies dropped sharply since Wednesday. A likely reason is that longs liquidations have jumped sharply in the past few days. Data by Coinglass shows that Bitcoin longs liquidations on Wednesday rose to more than $70 million, with most of these liquidations coming from Binance. 

Liquidation happens when brokers and exchanges are forced to close leveraged positions in their ecosystem to prevent further losses.

Another likely reason why cryptocurrency prices dropped violently is that risky banks like Western Alliance reported strong results. Western Alliance, which was seen as one of the riskiest companies, said that deposits had started rising recently. It had regained about 40% of the deposits it lost during the SVB collapse.

The relatively safety of American banks has an implication for the market since cryptocurrencies appeared to do well during the collapse of SVB and Signature. At the time, most investors viewed Bitcoin – and gold – as safe havens. 

Also, this safety gives the Federal Reserve leeway to continue hiking interest rates in the coming months. This explains why the US dollar index has jumped from last week’s low of $100 to $101.68. Treasury yields have also jumped in the past few days.

Why is Metacade soaring?

Metacade has gone in the opposite direction as most cryptocurrencies. This divergence is likely because investors believe that the gaming industry will continue growing in the coming years. 

For starters, Metacade is a relatively new platform that recently launched its token after a successful token sale that saw developers raise over $16 million. We have written about this token sale here. The developers are now building the platform and seeking to grow its popularity by creating partnerships.

Metacade has jumped because of the rising trading volume as demand rises. Data CMC shows that the overall volume in the past 24 hours came in at over $733 million. Most of these tokens are being traded in Uniswap, which is the biggest DEX in the world.

The other main reason why the MCADE price is surging is that the token is gaining traction among centralized exchanges. In a statement, the developers said thar BitMart will be the next exchange to list it. This listing will happen on Thursday. Historically, cryptocurrencies tend to jump when there is a major exchange listing. 

🚨LISTING UPDATE🚨

Metacaders, the countdown has started for our @BitMartExchange listing🔥

🗓️20th April, 2023
⏰9AM UTC

Exciting times for the #Metacade community🚀

Join our Discord to keep up to date⬇️ 🔗https://t.co/gTANLePPDx pic.twitter.com/kvnM8RzzqK

— METACADE (@Metacade_) April 13, 2023

The developers are working to get more exchanges list the token. Some of the potential exchanges that it could list next are Huobi, MEXC, Binance, and Crypto.com among others.

Finally, Metacade price jumped after the creators announced that they had started working on the gaming platform itself. According to the Metacade white paper, the development and testing process will take a few months before it is rolled out to the public.

Metacade price prediction

The hourly chart shows that the MCADE price has been consolidating in the past few days. In this period, it remained below the post-listing high of $0.021. Now, it has gone parabolic as investors wait for the coming listing by Bitmart. It has moved above the 25-period moving average while volume has started rising. 

Therefore, while more volatility is expected, the overall outlook is bullish. This volatility could see it retest the support at $0.021 as it completes the break and retest pattern. If this happens, the token will likely start rebounding in the coming days as sellers target the key psychological level at $0050.

Is Metacade a good investment?

For now, it is a bit too early to determine whether MCADE is a good long-term investment. Its success will depend on a number of factors, such as the performance of its games. However, based on a risk and reward calculation, I believe that rewards outweigh the risks as I wrote in this article. 

The biggest risk is where Metacade collapses while the potential reward is where it becomes a wild success in an industry that is expected to continue growing in the next few years. Also, in the future, Metacade, like other coins will have a correlation with Bitcoin. Therefore, it makes sense to allocate a tiny portion of your funds in Metacade.

The post Metacade Price prediction as MCADE goes to the moon appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

metacade mcade price 0342 high token soared

metacade mcade → Результатов: 118


Ethereum Classic Price Prediction: ETC seems stable whilst Metacade (MCADE) doesn’t stop rising

Web3 is a constantly expanding industry and crypto price action tends to favour projects that can adapt to its fast-changing environment. ETC is a classic example of a project that has been left behind due to its inability to scale with the rest of the industry, which has resulted in some pessimistic price predictions for […] The post Ethereum Classic Price Prediction: ETC seems stable whilst Metacade (MCADE) doesn’t stop rising appeared first on CoinJournal.

2022-12-24 18:24


Metacade signs terms to list on BitMart

Metacade is expected to list on BitMart after signing the listing terms. Metacade presale is currently in the Beta Sale stage. The Beta round price of the MCADE token is 0.01 USDT for 1 MCADE. After a successful Metacade (MCADE) presale amid the current crypto bear market, Metacade has today announced that it has signed […] The post Metacade signs terms to list on BitMart appeared first on CoinJournal.

2022-12-24 18:18


Here’s Why Metacade (MCADE) and Axie Infinity (AXS) Will Lead the Metaverse in 2023 and Beyond

The metaverse is shaping up to be one of the most pivotal technological changes of the 21st century. While the industry is still in its infancy, getting in on the right metaverse projects could be like investing in Amazon or Google in the early days of the internet, returning life-changing gains for years to come.

2022-12-21 14:09


FTX to File for Bankruptcy as Metacade (MCADE) is Set to Skyrocket in Presale

Crypto markets were shaken to the core by the recent news that the world’s second-largest crypto exchange FTX was to file for bankruptcy in US courts. An $8 billion black hole was discovered in FTX’s balance sheet after dozens of customers withdrew their funds, and a potential takeover from arch-rival Binance fell through, leaving founder […] The post FTX to File for Bankruptcy as Metacade (MCADE) is Set to Skyrocket in Presale appeared first on CoinJournal.

2022-12-9 13:25


Could Metacade (MCADE) 50x in 2023?

The crypto bull run of 2020-21 was one of the largest ever. Coins like Solana, The Sandbox, and others all made quite a few millionaires with massive increases in valuations. By contrast, the recent downturn in the crypto market is the perfect time to identify which coins could have similarly explosive runs in 2023 and […] The post Could Metacade (MCADE) 50x in 2023? appeared first on Invezz.

2022-12-9 11:06


After the FTX Collapse, Investors are Jumping on Metacade (MCADE)

Crypto markets were sent into meltdown at the start of November 2022, as a massive black hole was discovered in the balance sheet of FTX, the world’s second-largest crypto exchange. Despite initial attempts from Binance, FTX’s arch-rival, to inject liquidity into FTX and save them from collapse, FTX filed for US bankruptcy wiping $2 billion […] The post After the FTX Collapse, Investors are Jumping on Metacade (MCADE) appeared first on Invezz.

2022-12-9 09:41


Decentraland Price Prediction: How Metacade (MCADE) Seems to Be the Biggest Star in the Metaverse for 2023

The race is on to see which metaverse project is going to come out on top and see which coin will give investors the biggest return in 2023. Decentraland has had a headstart compared to others in the industry but can its MANA token stay ahead of the best newcomers in the next year? A […] The post Decentraland Price Prediction: How Metacade (MCADE) Seems to Be the Biggest Star in the Metaverse for 2023 appeared first on CoinJournal.

2022-12-9 03:05


Tron (TRX) Struggles While Metacade Sails Ahead with MCADE Presale

The last two years have been a struggle for Tron with the coin seeing a peak of $0.16 in 2020, and only touching $0.12 in the 2021 market high. The coin now trades at $0.06 after the recent bear market and still ranks as the number 14 coin, but investors can’t expect miracles from this […] The post Tron (TRX) Struggles While Metacade Sails Ahead with MCADE Presale appeared first on Invezz.

2022-11-29 14:17


Фото:

Metacade Token Presale Launched – Project Set to Revolutionize the Metaverse Industry

Metacade, a new project with grand plans to revolutionise the GameFi and Metaverse space, has today announced the launch of their hotly anticipated MCADE token presale. Their project has been hotly discussed on social media and industry sites for the past several weeks, and with their supercharged beta presale now on, we explore whether it […]

2022-11-24 13:24