Metacade is set to launch a version of its highly anticipated play-to-earn (P2E) gaming arcade ecosystem to the public before the end of the month. While the price of the native MCADE token has retreated from the highs reached after an explosive start to trading, the potential to recoup the losses and see an uptrend materialise is shaping up.
This is because the crypto market is expected to start a new bull cycle, with tokens in the gaming sector among those to likely outperform as interest in the sector grows.
XRP leads crypto amid positive debt ceiling talks
Crypto markets were largely flat on Friday as investors continued to watch out for signals from the US over its debt ceiling talks. Elsewhere, the stock market saw a nice bump early with futures up as it looked increasingly likely lawmakers may reach a deal to raise the debt ceiling as soon as this weekend.
One of the biggest winners in the crypto market today is XRP, which has surged by more than 4% in the past 24 hours. Bitcoin, Ethereum, and Cardano also climbed towards key price levels as the crypto market looked set to mirror other risky assets.
XRP is the native token of Ripple, a cross-border payments company that is currently battling a lawsuit filed by the US Securities and Exchange Commission (SEC).
While the SEC alleges that Ripple sold XRP as an unregistered security, the company has denied the charges. This week’s XRP gains come as a judge ruled against the SEC’s motion on sealing documents related to former agency official William Hinman.
In 2018, Hinman made a speech on the state of crypto and securities, which Ripple maintains is key to the outcome of the legal battle. Ripple CEO yesterday slammed the US regulatory space as “confusing” and one likely to see more companies leave to other jurisdictions that offer more clarity.
With investor sentiment flipping positive in anticipation of a Ripple win, XRP looks like it could be seeing a major rally. Over the past week, XRP price has gained by more than 8%, with bulls eyeing $0.5.
Square Enix affirms Web3 gaming is the future
Metacade expects to release its Metacade Lite version to the public soon, details of which could be confirmed at the next AMA scheduled for 24 May, 2023. The project hit all the milestones set in its roadmap for Q1, 2023. The targets in this quarter include the launch of the Create2Earn platform, with users getting to sample the game-changing gaming experience that comes with Metacade’s unique approach to P2E.
With the crypto markets also expected to enter a new bullish cycle, its possible MCADE could lead the charge within the Web3 and GameFi ecosystem. Recent developments around Axie Infinity’s debut on the Apple App Store, and Japan-based gaming giant Square Enix reaffirming its commitment to blockchain and Web3 gaming could help spark new demand and adoption.
What does the Metacade platform offer?
Metacade is a new blockchain gaming platform that aims to become the largest Web3 gaming arcade. At its core, Metacade aims to offer gamers, investors and developers access to a decentralised gaming hub, complete with the largest selection of different play-to-earn (P2E) arcade games.
The project also looks to allow for integration of multiple earning mechanisms for ecosystem players.
The MCADE token is used to pay rewards in the ecosystem, and will help platform users to access services and opportunities in staking and DeFi. The roadmap also includes a pivot to a community run project, with MCADE holders getting voting rights on governance proposals. Read more on Metacade here.
Is Metacade worth buying now?
MCADE saw major success during its presale that sold out early as investors convinced of what Metacade offers scooped its native tokens on the cheap.
April was a big month for Metacade as not only did the presale end in success, the subsequent listing on Uniswap, BitMart and MEXC exchanges followed swiftly. In the market, MCADE price rallied to hit the all-time high price of $0.045 in early May.
Although the current price of $0.020 puts MCADE/USD more than 52% off the above peak, a rebound across markets will elevate bulls. Movement during the next bull cycle will likely have the token’s price trading above $1 in 2024.