Metacade ($MCADE) Resumed Its Downward Movement on Monday

This article was paid for* Metacade ($MCADE) resumed its downward movement on Monday after it plunged 5% in the last 24 hours to bottom at $0.0074.

This article was paid for*

Metacade ($MCADE) continued its downward movement on Monday after it plunged 5% in the last 24 hours to bottom at $0.0074.

Among all asset classes, $MCADE has undergone one of the most volatile trading histories since its debut, enduring a retracement of nearly 84% from its all-time high of $0.045.

Even amid the sharp market recovery that took the Bitcoin price above the $60k level in July, $MCADE is still stuck within the red zone, raising concerns about its future.

What’s causing the prolonged downturn in the price of $MCADE? Will the token recover or conclude the year on a more bearish note? This article will provide answers to these questions and also suggest two leading alternatives that savvy investors can shift their attention to.

What Is Metacade?

Metacade prides itself as the hub for play-to-earn players, developers, and investors to maximize the benefits of GameFi. It leverages the powers of Web3 and blockchain to deliver a platform where players can interact with like-minded enthusiasts, discover new P2E games, and participate in new tournaments.

Some of the most popular games on the platform are WilderWorld, Decimated, Chains of War, Gran Saga, Gold Fever, Rune Realms, Stumble Upon Rumble, Marvin’s Survivors, Crazy Ants, and Flight Force among others.

Meanwhile, apart from earning free rewards through its lineup of games, users can also monetize their gaming skills and knowledge by teaching other community members. In fact, experienced players on the platform can make more money by publishing exclusive articles on critical areas within the gaming space.

Being an incentive-based ecosystem, Metacade’s native token $MCADE serves multiple purposes. First, it provides an avenue for players to participate in tournaments and compete for rewards. More so, holders of the token have the right to vote on games that will be funded by Metacade’s Metagrants scheme.

The Metagrants scheme is an initiative that’s designed to fund developers’ gaming proposals and provide emerging titles with the needed financial backing to thrive. Through $MCADE, players can also participate in tournament challenges and get rewarded.

Metacade ($MCADE) Price Analysis & Forecast

After successfully selling out its presale, raising upwards of $15 million, $MCADE officially made its IEO debut on Uniswap in April 2023 with $0.022 as its listing price. With that, those who purchased the token at the earliest stage of its ICO event made over 150% gains. Besides Uniswap, $MCADE was also listed on other exchanges like BitMart and Bitget.

That being said, $MCADE took off on the right foot, recording a significant price appreciation within the first few weeks of going live. Before the end of April, the token was already trading above the $0.027 level.

In May 2023, the bulls sprung into action again to sustain the uptrend and finally pushed the token’s price to its all-time high of $0.045 on the third day of the month. However, since that time, $MCADE has not posted any significant price gains.

Over the past year, $MCADE has seen more red candles on the charts, falling by over 29%. More so, according to Coincodex’s data, $MCADE witnessed 13/30 (43%) green days and 4.11% price volatility over the last 30 days. This shows that the general sentiment around the token is bearish as holders are now shifting their attention to newer crypto assets with better postures and utility ideas.

Renowned for its community-driven arcades, Metacade’s major concept is to provide a blockchain-based arena for players to discover and play a plethora of P2E games. While this niche has recorded a surge of interest in recent times, boasting a market valuation of $9.9 billion, Metacade has not really seen any massive growth as there is an influx of similar projects competing for market share.

Therefore, for $MCADE to recover from its downtrend, the project’s team must integrate compelling games that can add more tangible value to its ecosystem. Metacade’s ability to feature games that appeal to a wide player base will not only enhance the token’s utility but also foster sustained interest and investment.

Another important factor that can trigger a surge in the price of $MCADE is its listing on leading crypto exchanges like Binance. Considering its enormous trading volume and user base, any token that’s listed on Binance will definitely reach a broader audience, thereby driving up its demand and price.

While the next bull run will also play a crucial role, Metacade’s performance in the coming months will be greatly determined by how