Crypto prices continue to rebound as Metacade’s presale nears the end
- Cryptocurrency markets continue to hold on to recent strength but equity investors have plenty to worry about.
- One analyst says crypto is looking attractive as Wall Street is 'crippled'.
- This supports the case for investing in prestage projects like Metacade.
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The past few days marked a difficult time for investors as not one but three notable banks collapsed under pressure, adding to an already tense investment environment. Investors have to now deal with fear of additional bank failures on top of inflation and employment concerns, questions over how the economy will react to potential new rate hikes, the ongoing war in Ukraine, and much more.
Yet at the same time, Bitcoin (BTC/USD) gained 15% to start the week and briefly traded above the key $25,000 resistance level on Tuesday. Looking over a seven-day, 30-day and 60-day period, it is clear that investors are currently favoring not only Bitcoin but the broader crypto market with reason to believe the momentum can sustain throughout the year.
This enthusiasm can and should trickle down the entire crypto sector and even positively impact presale projects, like Metacade.
Investors are ‘looking for alternative currencies’
We can still count on one hand the number of days since Silicon Valley Bank’s (NASDAQ: SIVB) collapse and subsequent panic that hasn’t eased despite a rebound in stock prices on Tuesday. The bank runs seen in recent days and possibility of further ones to come are yet more evidence of the broken nature of traditional finance and lack of investor confidence in the simple concept of a bank’s ability to keep customer funds secure and easily accessible.
Even notable billionaire investors that have been around for decades and experienced every type of scare are worried. Carl Icahn is one example of an investor sounding the alarm bells. He said on CNBC’s “Closing Bell” on Tuesday that we “absolutely have a major problem in our economy” and rampant inflation is “the worst thing the economy can have.”
So, does this represent a watershed moment for crypto and perhaps smaller startups like Metacade?
Nigel Green is the CEO of deVere Group, a large independent financial advisory firm. He said in a statement obtained by Invezz that Bitcoin and crypto are “acting as a safe haven asset” as Wall Street is “crippled by a relentless agenda of interest rate rises.” He adds:
Investors are therefore looking for alternative currencies, such as cryptocurrencies. Moving forward, these will increasingly compete with traditional, fiat ones and this will help trigger the decreasing dominance of currently leading international currencies.
Presale crypto projects like Metacade are attractive
Play-to-earn crypto projects represents one of the many available options for seasoned cryptocurrency and every-day investors alike to diversify away from their fiat holdings. The concept is quite simple: crypto-based play-to-earn games enable gamers to earn money while playing games. This niche has a name; it is called game-fi.
Game-fi is a unique crypto-based offering that not only allows users to enjoy the benefits of cryptocurrency but also ensures that users have fun while at it. One of the projects at the forefront of pushing Game-fi to the masses is Metacade.
Metacade is a presale cryptocurrency project focused on bringing out the best of gaming and finance built on blockchain. Built as a Web3 community, Metacade creates an environment for gamers and crypto fanatics to collaborate and communicate with each other. Moreover, the platform has a native coin, $MCADE, that acts as a reason for community members to become more involved and help grow the ecosystem from within.
In an environment such as the one precipitated by the ongoing banking crisis, Metacade stands out as an asset that can hold weight in any investor’s portfolio, even if it is a small one.
MCADE is a good opportunity for long-term growth
According to Metacade’s website, the current sixth presale stage is roughly 97% sold which shows the project continues to attract new investors willing to buy at a higher price. The current price of $0.017 represents a large jump from the beta round that attracted investors at $0.008.
Once the sixth stage is complete, the price to buy Metacade is set to rise by 9% before rising to $0.02 in the final eighth stage that comes to a close at the end of March. The fact that the project is in the presale stage implies that any buyers today will be the first to cash in on expectations for a surge in value once Metacade graduates to a notable crypto exchange.
So, what makes Metacade a good opportunity? Simply put, the total market cap of all game-fi coins stands at just $11 billion, according to Coingecko. This pales in comparison to the traditional global gaming market that combines for $200 billion in revenue. As such, the size of the crypto game-fi industry has plenty of room for expansion over the years as crypto and blockchain projects gain in popularity.