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The recent FTX crash —one of the world's leading cryptocurrency exchanges — caused a ripple effect throughout the entire crypto market. Now investors are wondering what this means for hot prospects and big players in the industry, like Metacade (MCADE) and Solana (SOL). Will they weather this storm or suffer along with other coins? Read on to find out more about what could be next for these two major cryptos.
Metacade is an innovative Web3 community hub that provides gamers and crypto fanatics with a place to come together, collaborate, and have fun. The project's goal is to create a virtual space where like-minded people can explore all aspects of GameFi and experience the exciting world of Web3 culture.
The Metacade team also embraces Web3 values, with a key ambition being to put gaming back into the hands of the gamers themselves. The comprehensive and immersive ecosystem offers many benefits to users. Also, it sets itself apart by actively planning to generate its own revenue across many streams to sustain the project effectively.
Metacade is building what could become the biggest arcade on the blockchain and connecting Web3 users, helping to boost innovation within this domain through its Metagrants program, where MCADE holders get the chance to vote on where game development funding from the treasury should go.
The platform will also allow users to play their favorite games for the chance to win big prizes while meeting fellow gamers, developers, and entrepreneurs. In addition, Metacade users can contribute through interactions such as game reviews, and users can gain access to advanced GameFi alpha testing opportunities – all while earning $MCADE tokens as rewards for their contribution to the ecosystem!
Users can access a selection of play-to-earn (P2E) games on Metacade and participate in tournaments for MCADE token rewards or frequent competitions. In addition, in late 2023, Metacade will be giving away its first Metagrant, allowing users to vote on which game ideas from developers should receive funding from the treasury to make the these ideas a reality.
Moreover, it plans to eventually become a decentralized autonomous organization (DAO), allowing users to propose changes and vote on changes that shape the platform's future direction.
This high level of token utility, ambitious roadmap and longevity of the project makes the platform very resilient and should help it to avoid negative impacts from events such as the FTX crash.
Metacade has already sold $1.6m worth of MCADE tokens since launch, and the price of the token continues to rise at each stage of the presale. By the final presale stage, the MCADE token will be valued at $0.02. When it hits the exchanges, Metacade is expected to outshine its competitors, making it a top investment choice for those who are savvy enough to get in early.
The booming online arcade, with its play-to-earn titles and community focus, will attract a large number of users over time, driving massive growth as people buy and hold MCADE tokens for use across the platform. This appeal means the price of MCADE could easily reach $1 in 2023 with enough adoption, offering investors an opportunity for huge gains during a bear market.
The beta phase of the presale attracted over $1 million in funding in just three weeks, which shows that many investors believe that that price over the next few years is likely to rise significantly.
Solana is a layer-1 blockchain protocol that aims to compete with the likes of Ethereum (ETH) by offering cheaper and quicker transactions. It boasts some big supporters, including Silicon Valley VCs, and hopes to dethrone Ethereum to become the premier decentralized public permissionless blockchain.
Solana has a very active development community which has caused many to wonder whether it can eat into Ethereum's rising market share, even after considering its links to the FTX crash. However, while the project has many supporters, it has faced serious technical problems with a significant number of outages that have required intervention from the development team to resolve.
This technical fragility means that widescale adoption is a very long way off. Additionally, with a market cap already very high at $4.4 billion, it's clear that speculation is one of the main factors driving the price of SOL.
In light of these issues, and with the Layer-1 protocol's ties to the disgraced Sam Bankman-Fried, many believe that if Solana can stay above $10 in 2023/2024, it would be considered a success, given the drops seen as a result of the FTX crash.
It's clear that even if the stars align, SOL looks unlikely to recreate the heights of the 2021 bull run for a decade or more. SOL's price may drop even further if another event like the FTX crash happens.
It's no surprise that the comprehensive approach taken by the Metacade teams has investors looking for strong returns taking note.
While Solana and the SOL token are well-known and have an active community, their connection to the FTX crash has raised red flags for investors. On the other hand, high-potential projects like Metacade are enticing investors. The scope of Metacade's project and the astronomical returns MCADE has already experienced make it a clear winner, even in an uncertain market.
You can buy SOL tokens at eToro here.
You can participate in the Metacade presale here.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
