Sophisticated crypto investors were quick to shed their long-term holdings in major cryptocurrencies after some negative news broke today. This shift in sentiment caused both FTX Token (FTT) and Solana (SOL) to drop 20%. Metacade is a project that continues to thrive in less than ideal market conditions.
The MCADE token presale saw impressive price action. Metacade is an emerging Metaverse that directly supports Web3 expansion, and its value has more than doubled as a result.
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Bad news causes major tokens to crash
The crypto winter of 2022 has taken its toll on a number of top tokens. After a brief price rally, negative news emerged causing SOL and FTT to drop in the rankings. Within hours, SOL and FTT plunged almost 20%, and the reason left many investors unsettled.
FTX on the brink of bankruptcy
Binance CEO Chao Zhengpeng confirmed on Twitter that the Binance exchange will sell over $3 billion worth of FTT. This number corresponds to 100% of the total stock of tokens. Since FTT is the native token of the FTX exchange, this news has all but confirmed that FTX is now bankrupt.
FTX is one of the largest centralized exchanges in the crypto sphere. News of their insolvency spread like wildfire and the stock market suffered a mass exodus as a result. With FTX being a major player in the market, the bad sentiment has impacted the markets, affecting a number of top tokens.
Solana is a decentralized and open-source blockchain that supports the development of dApps. Compared to competitors like Ethereum, it is fast and cheap. The network has near-instant finality and low transaction fees, and was marketed as a potential ETH killer during the 2021 bull market.
FTX has been one of the main supporters of the Solana ecosystem. With the news that FTX is now in default, this caused the SOL token to lose 17% of its total value almost immediately.
Crypto fails to recover
After the recent price rally, it seems that much of the crypto market is struggling to regain momentum. Bitcoin and altcoins each saw a major break in the past few days before crashing again just as the bad news hit.
For Bitcoin, it looks like its recent breakout might turn out to be a fake. However, crypto investors will be happy to know that capital is still heavily invested elsewhere, as Metaverse-based projects like Metacade are showing big gains despite news of a bear market.
Metacade presale sees MCADE’s value doubled
Crypto investors remain optimistic about the industry’s long-term future. Blockchain technology is being used to create a series of decentralized Metaverse worlds, and the excitement around these immersive gaming experiences is reflected in the hype surrounding the Metacade presale.
Why are people so optimistic about Metacade?
The MCADE token has had very different success than FTT and SOL lately. Indeed, the brand new Metaverse project continues to attract significant capital investment while other projects continue to stagnate. While FTT and SOL are down 20%, MCADE is up over 100%.
It looks like investors are turning away from FTT and investing in Metacade as the widespread popularity of games to win continues despite the bad news. This is a good indication of the success of the Metacade project in the long term.
The future of gaming
Game-to-win titles like The Sandbox or Axie Infinity are taking over the entire gaming industry as more and more gamers are drawn to an important feature. Blockchain-based games, enabled by a fully functioning game economy, can offer something that no traditional title can: you can earn real income while playing your favorite games and competing online.
One of these projects is Metacade. It offers a range of arcade-style P2E games that offer endless crypto earning opportunities for GameFi enthusiasts. Additionally, there are a number of key features that make the project stand out from the crowd.
Metacade helps develop blockchain games
Metacade plans to directly support the next wave of blockchain innovation. The project will finance new play-to-earn games and provide access to a community of players willing to test them.
For developers, this type of service is invaluable. Metacade is positioning itself as a major player in the blockchain gaming world, which has prompted many investors to purchase MCADE tokens during pre-sale events.
Provide players with opportunities to win
Metacade allows you to maximize your crypto token holdings with a variety of rewards. The project is building an all-in-one metaverse supporting GameFi and Web3 expansion, connecting crypto natives to exclusive job opportunities.
New play-to-earn titles are looking to partner with Metacade to announce special roles as they develop some of the hottest new P2E titles in the space. Crypto enthusiasts can test these titles during development and earn crypto tokens by providing feedback to the development team.
Metacade connects gamers with paid contracts in blockchain gaming and wants to give back more power to the gaming community by enabling a one-to-one relationship with game studios.
MCADE doubles in value as major tokens struggle
Recent bad news has caused a shift in sentiment among some key players in this space. However, this had almost no impact on Metacade’s earnings. After a more than 100% rally, MCADE’s strong price performance is a long-term positive indicator as investors scramble to participate in the pre-sale.
The future of GameFi and the Metaverse looks bright. With so many game-changing features and strong signs that the project will be popular with Web3 enthusiasts, Metacade could be a prime buying opportunity for investors gearing up for the upcoming crypto bull market.
With the next bitcoin halving looming, opportunities like the MCADE presale could create the next wave of crypto millionaires. The token starts at $0.008 but will increase to $0.02 in later presale stages.
You can here participate in the MCADE presale.