Invezz.com - Metacade has been widely touted as one of the year’s standout projects, a play-to-earn platform whose native MCADE is seeing significant upside action after a major partnership rolled out.
Metacade’s price break above a key level, defying the broader crypto market lull to trade higher, comes after a week of key developments. While Bitcoin struggled around $27k, MCADE rose to near $0.029- gaining by as much as 15%. Can a key event lined for 1 June and 2 June help drive MCADE/USD higher?
Metacade lite tour and soft launch is a key event
This week has been great for Metacade in terms of the project hitting another milestone. After the MCADE presale sold out and the token went live on major crypto exchanges Uniswap, BitMart and MEXC, the project sealed its first major ecosystem partnership with play-to-earn game studio MetaStudio.
MetaStudio is likely to be the first among several major collaborations that would bring a load of games onto the P2E platform. And given Metacade’s unique approach to gaming, the MetaStudio partnership only helps solidify the prediction that Metacade is poised to be crypto’s breakout gaming project of 2023.
Thursday will see Metacade CEO Russell Bennett, who highlighted the soft launch in an interview this week, host the 1st episode in the Web3 game platform’s Metaseries. This comes as the highly anticipated Metacade Lite launch comes on Friday.
What’s Metacade?
Metacade is being built as the ultimate Web3 gaming arcade. At the center of the project are game developers, game enthusiasts and investors, who will form a community of users who come together to play, connect and earn. Powering this ecosystem is the MCADE, an ERC-20 utility token integrated into the tokenomics of the entire project to offer more opportunities to holders. MCADE has a total supply of 2 billion tokens.
Rewards for the community will be via an innovative staking mechanism, while a treasury reserve will help provide funding to game developers to boost the broader crypto gaming ecosystem.
MCADE token holders will also benefit from participating in gaming tournaments and prizes. Pay-to-Play arcade, game-testing and a Launchpad are also part of the Metacade roadmap.
Metacade price prediction
As noted earlier, MCADE could see a fresh leg up with bulls likely to eye the all-time highs of $0.045 hit in early May. Looking at the MCADE price today, it’s possible to tell that excitement and enthusiasm towards this project has remained elevated since its successful presale.
However, the Metacade Lite launch appears to have ignited fresh demand. That might explain the 15% surge in the price of the gaming arcade’s native coin in the past 24 hours. It also shows in the 34% jump in the past week, which currently sees it trade nearly 90% up since the lows of $0.014 in mid-April.
At current prices, MCADE is about 37% off its ATH. Can it go higher and target $1?
The chart below shows the breakout from an ascending triangle, with price having retested the resistance line as support before continuing higher. Bulls however need to hold above $0.024, which means room to regroup should the rejection at $0.028 strengthen.
Metacade price chart showing breakout above key hurdle. Source: TradingView
What makes Metacade worth buying?
Metacade is a crypto gaming project that’s still under development. However, it has seen widespread interest as can be judged from the presale that quickly sold out earlier in the year. It has a great team with experience in the gaming sector, and the project has the potential to revolutionise the P2E gaming ecosystem. MCADE’s utility within the ecosystem is also one to consider, with demand likely to grow given what it offers to holders.
The MCADE price has also shown demand is there, with the surge after listing on exchanges suggesting its likely to explode if another major platform announces support. In the immediate term, the Metacade Lite launch could provide the spark that triggers new upside momentum.
In the medium term, with price volatility and other market factors considered, MCADE can indeed trade higher and prove to be the crypto gem that it has been touted to be. But before investing, take time to learn more about Metacade, including on how it works as detailed on their whitepaper and website.
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