Like other cryptocurrencies and stocks, Metacade (MCADE) has under extreme stress as a result of the worsening debt limit crisis. The token was trading at $0.022, which was much less than its previous high of $0.046. Other cryptocurrencies have also been trading in the purple. Bitcoin has decreased from the excess of $31,000 for the entire year to about $27,000.
Debt ceiling catastrophe substitute
The risky fundamentals of Metacade have not caused a decline in value. Instead, it has decreased as a result of market participants’ ongoing risk aversion. That is demonstrated by the fact that the US dollar index has increased to the highest level in more than a month. Additionally, the well-followed VIX index has increased by double digits.
The main worry is that if Republicans and Democrats are unable to reach an agreement, the American government would go into default on its financial obligations in June. Recent investigations indicate that the two negotiators’ negotiations have reached a dead end. As a result, the US was placed in a score watch detrimental space, according to Fitch, a big score firm. According to the study,
Risks to the creditworthiness of the United States are indicated by the “brinkmanship over the debt ceiling, failure of the U.S. authorities to meaningfully resolve medium-term fiscal challenges that can result in rising funds deficits, and a rising debt burden.”
I believe that the debt ceiling scenario is giving investors a great opportunity to buy the recent decline in valuable financial assets like Metacade and stocks. For starters, there is a good chance that the US won’t go into default because the two parties will come to an agreement.
The head of the Treasury, Janet Yellen, has stated that the US will run out of money on June 1. As a result, there are still six weeks to reach a resolution. These proposals are often made on the penultimate day, as they were in 2011.
A common adage that may be found on the market advises purchasing when various people are afraid. This is a method that has been successful in the past when emergencies have occurred. For instance, it operated as intended while the Covid-19 epidemic was just getting started. Additionally, investors who bought the drop during the Global Financial Crisis made good money over time.
Metacade’s foundations are solid.
First off, the brand-new blockchain competition Metacade earned more than $16 million in a token sale. The developers are creating a game product that is predicted to be far superior to current offerings like Axie Infinity and Decentraland.
According to Metacade’s white paper, the developers are actively working on the game, which will be released in the next months. They are also attempting to have the coin listed on major exchanges at the same time. It has already been listed by MEXC and BitMart, as we just said.
Since Metacade is in a sector that is predicted to grow over the next few years, it has solid fundamentals. According to a recent study, blockchain video games are expected to generate $4.6 billion in revenue in 2022 and over $65 billion by 2027. I think Metacade may have a market share in this industry.
Since Metacade is in a sector that is predicted to grow over the next few years, it has solid fundamentals. According to a recent study, blockchain video games are expected to generate $4.6 billion in revenue in 2022 and over $65 billion by 2027. I think Metacade may have a market share in this industry.
Metacade value forecast
On the hourly chart, we can see that the price of Metacade has been fluctuating recently. Similar to other cryptocurrencies like Bitcoin, Ethereum, and Solana, this value movement also exists. The upward trendline, which is shown in black, has just barely been crossed by the coin. It has also risen over the 25-day moving average, and the Relative Energy Index (RSI) has risen above the neutral line.
