Metacade (MCADE) saw its price increase astronomically from its all-time low. This raises the question, "Should one invest in the Metacade now?" Metacade Uniswap data shows the cryptocurrency is one of the best-performing cryptocurrencies in the world right now. Since going public in April, Metacade crypto price has rallied more than 27% from its all-time low.
This is quite a great milestone for cryptocurrency, which would be looking forward to expanding its reach in the crypto market. Because of how profitable the cryptocurrency has become and its increase in price value, more investors are getting interested in the project. Apart from sheer market sentiments, there are some subtle reasons one should consider adding Metacade to their portfolio.
Macro Events in Metacade Favour
According to several expert analyses, several macro events seem to be in Metacade favor. One of the major events that will affect the price of Metacade positively is the increase in interest rates by the Federal Reserve by 0.25%, bringing them to about 5.25% on Wednesday. According to some crypto analysts, this is good news for cryptocurrencies like Metacade as it shows that the federal government is slowing down the American economy.
Another data published by the GDP showed that the economy of the United States has slowed down by a stretch. For laymen, it simply means that the economy of the United States is getting worse than it was some years ago. The data also revealed that inflation has refused to go down in the country.
The manufacturing sector of the United States economy continued contracting in April this year. The rate of retail sales has declined, too, as consumers don't have much buying power again. With the situation getting bleak around fiat, it seems like most people would be turning to cryptocurrencies as a safe haven. This is good for the market as it will help coins like Metacade increase value.
Metacade Members on the Increase
Metacade crypto price isn't the only metric increasing within the Metacade ecosystem. The number of members of the community is also growing at a fast rate. Data compiled from trusted sources showed crypto holders had increased drastically.
Data compiled from Etherscan showed that the number of Metacade holders has jumped to more than 9k, which is very much higher than what it was last month. With the number of Metacade holders soon reaching 10k, the rate of Metacade transfers has also jumped to more than 27k.
Another important thing is that Metacade would be seeking to list its tokens in well-known decentralized exchanges. One of the crypto exchanges targeted by the creators of this token includes Binance and OKX. They target these big exchanges because newly launched crypto tokens generally do well when listed in popular exchanges.
Metacade technical data also shows the token might go through more bullish trends in the future. Within the past four weeks, Metacade charts have been all green, and it seems it does not plan on stopping anytime soon. Metacade recovery has been a great one, as it is quick to increase in price, recover, and increase more. With the token being supported by the 50-period moving average, it is expected that Metacade should teach the $0.05 price levels.