contracts for difference (“CFDs”) is speculative and carries a high level of risk. Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. We may receive financial compensation from these third parties. Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. A drop below the support at $0.018 will invalidate the bullish view. Therefore, there is a possibility that Meatacade will continue rising as buyers target the next psychological level at $0.30. The MACD has moved above the neutral point while the price has jumped above the 25-period moving average. It has managed to pare back some of the losses it made earlier this week. The 4H chart shows that the MCADE price has made a strong recovery in the past few days. Finally, MCADE has a favorable risk-reward proposition. Second, there are numerous bullish catalysts for the token, including exchange listings and game launch. First, it is in an industry that is expected to grow rapidly in the next few years. There are three main reasons to invest in Metacade. Therefore, I suggest that you do good risk management strategy and just allocate a small portion of your cash into it. In the past, people who invested vast sums of money in one or two tokens have lost a lot of it.
Metacade, like other crypto tokens, is a relatively volatile and illiquid token, meaning that you need to be cautious when allocating funds in it. Expectations is to launch the game in the next few months and also transition the ecosystem into a decentralized autonomous organization (DAO). Metacade has also partnered with one of the biggest gaming and metaverse developers, who will build the game. It was then listed in key platforms like MEXC and BitMart and the developers hope to list it in other exchanges. As with most tokens, MCADE was first listed in Uniswap, the biggest DEX in the world. For example, they have inked several exchange-listing deals that give millions of people access to the token. Since then, the developers have made several milestones. The developers conducted a token sale earlier this year that raised over $16 million, making it one of the most successful token sales in the world this year. Metacade is one of the newest players in the decentralized gaming platform.
At its lowest level this week, MANA was down by more than 37% from its highest point this month. A likely reason is that investors were simply buying the dip after the tokens dropped sharply in the past few weeks.
It is unclear why gaming tokens like Decentraland MANA, SAND, and Enjin jumped. Most of the existing gaming platforms using blockchain enable people to play games and then earn returns for their wins. And blockchain technology makes this possible by ensuring that people can game easily and make money in a simple way. The industry, which has been controlled by giant companies like Microsoft, Take-Two Interactive has been ripe for disruption for years. Data by Grandview Research showed that the industry was valued at over $4.8 billion in 2022 and that it will have a compounded annual growth rate of 68.3% in the next few years. Gaming is one of the top industries that will be disrupted by the blockchain technology. Metacade was not left behind as MCADE has risen by over 28% from the lowest level this month. In the same period, Sandbox’s SAND soared by 7.40% while Enjin Coin’s ENJ rose by 7%. Decentraland’s MANA jumped by 11.5%, making it one of the best-performing crypto tokens. Gaming-focused cryptocurrencies jumped in the past 24 hours as momentum in the industry returned. This price action could benefit Metacade’s MCADE token. Gaming and metaverse tokens jumped sharpy on Wednesday morning.ĭecentraland, Sandbox, and Enjin were among the best performers.
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