MCADE price skyrockets after the Metacade public beta launch

November 30, 2023 08:56 AM PST | By Invezz
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Metacade (MCADE) price has done well in the past few months. The token jumped to a high of $0.02188 in November as demand for the token jumped. At its highest level, MCADE was up by almost 400% from its lowest point this year. This rally has given it a market cap of over $26 million.

Metacade banks on partnerships

Metacade is one of the fastest-growing platforms in the blockchain industry. It is a leading platform in the gaming industry. It is a platform that connects gamers with some of the biggest names in the industry.

People can play games, earn rewards, build their gaming career, and connect with like-minded people in the industry. Metacade envisions a future where developers and gamers will be able to connect in its ecosystem, grow, and make money over a long period.

The developers unveiled the public beta on Wednesday this week, ushering a new era in the ecosystem.

Metacade has achieved remarkable growth in the past few months, helped by its marketing and partnerships. The number of MCADE token holders has soared to more than 10,000 and the trend is accelerating.

Some of the recent partnerships are with companies like Play One Tap, Shuttle Bay XYZ, Galaxia Studio, ShockWaves and Hatchyverse. These partnerships will help it reach more users and expand its ecosystem.

Metacade has a clear roadmap and a good way to make money. The platform will make money through advertisements, subscriptions, tournaments, testing, and partner studios. Subscribers will pay $4 per month to access the ecosystem.

At the same time, Metacade is being powered by MCADE, which is a cryptocurrency with a real utility. Each transaction in the ecosystem will be accompanied by a buyback and burn, which will reduce the number of tokens in circulation. 

Metacade has also introduced staking, which is a process where people hold tokens to gain rewards. Also, players in its ecosystem are paid using MCADE.

Catalysts for MCADE price

There is a likelihood that the MCADE price will continue rising in the coming months for two main reasons. First, investors have embraced a risk-on sentiment as inflation has dropped recently. On Thursday, the closely watched personal consumer expenditure (PCE) data showed that inflation dropped to 3.0. This is an important number since it is the Fed’s favourite inflation gauge.

Therefore, there is a possibility that the Federal Reserve will start cutting rates in the coming months. This explains why the fear and greed index has jumped to over 70 while American equities have soared.

Second, there are signs that Bitcoin will continue doing well in the coming months. For example, most analysts expect that the Securities and Exchange Commission (SEC) will approve the spot Bitcoin ETF. Also, Bitcoin halving will happen in April. In most cases, cryptocurrencies tend to do well when Bitcoin is thriving.

Further, most analysts believe that the blockchain gaming industry will thrive despite the challenges of the past few years. We have already seen Axie Infinity start to regain its users.

The post MCADE price skyrockets after the Metacade public beta launch appeared first on Invezz


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