Ethereum Classic price jumping. Metacade reaching ATHs. Is this a bear market rally?

Many investors have noticed with interest the recent increases in price across a range of projects in the market. Ethereum Classic (ETC) is one project that has seen recent gains, but with no significant news for the project seemingly driving the jump, many are looking beyond the project to a broader bear market rally.

Bear market rallies provide welcome relief for investors seeing the impact of the crypto winter, and while the price increases they drive often don’t last long for most projects, they can be a sign of positive news from the industry, such as a new high potential project.

Metacade looks as though it could be one such project, as the investing sphere is abuzz with excitement following the release of the project’s whitepaper and the launch of its presale.

This has led some analysts to question whether ETC will be able to hold on to its recent gains and whether Metacade is the one driving the industry-wide increases.

Is Metacade’s presale driving a bear market rally?

With no major news coming out of the project, the Ethereum Classic price increase seems more likely to be the result of industry-wide factors. With other projects experiencing some price appreciation as well, many now believe that we are in the midst of a bear market rally that is responsible for most price increases.  

Metacade is generating so much hype throughout the investment community at the moment that it’s quite possible that the Metacade presale is motivating investors to bring more money into crypto and away from other asset classes.

What is Ethereum Classic (ETC)?

Ethereum Classic is the result of the hard fork that the original Ethereum network underwent following a high-profile hack back in 2016. While what we now know as Ethereum was created to roll back the hack, Ethereum Classic carried on for those that believed that the hack was the cost of developing the new technology.

Since then, Ethereum Classic has struggled against the main Ethereum network, leading many to question the project’s future prospects.

Ethereum Classic price prediction general: Can ETC compete?

The most telling signs of the poor prospects for ETC are the Atlantis and Agharta upgrades made to the network over recent years, which were aimed at providing a more interoperable network with Ethereum in order to leverage the adoption and success of Ethereum.

This means that the Ethereum Classic price in 2023 could drop as low as $14, with some dramatic use cases needing to emerge for ETC to have any chance of avoiding a continued decline to $6 by 2025.

What is Metacade (MCADE)?

Metacade is a captivating new project that is making waves throughout the industry and appears ready to begin a sea change in the way that gamers enjoy their favorite medium. The project allows gamers to make money by playing games and is building the largest play-to-earn arcade of its kind, with a breadth of titles that accommodates all types of play styles.

Metacade has also developed its extensive rewards system with security front-of-mind, having submitted the entire project to the respected auditor, Certik.

How does MCADE work?

The MCADE token is the power source of the ecosystem, supporting the rewards mechanisms, and is used for both game access and purchasing. The token provides fantastic incentives for investors, including the project’s staking features that mean MCADE holders can benefit from passive income generation.

The investment community has also reacted with great enthusiasm to the Metagrants project, which sees proficient game development teams sharing their game proposals with the Metacade community. They are then able to gain useful feedback from gamers, and MCADE holders can periodically vote on which project’s should be funded by the Metacade treasury. This program provides a holistically beneficial way of empowering the community to help build the platform that they themselves want to play on.

Metacade price prediction general: Where can MCADE reach?

The huge amount of attention that Metacade is garnering is evidence of the high potential the investment community sees in the project, and should the comprehensive plan deliver to the timescales that the team has outlined in its whitepaper, it’s likely to deliver huge returns as early as this year.

In 2023, it wouldn’t be surprising to see the price of MCADE be driven up through the first wave of users joining the platform, and this could mean a price of $1 or higher is reached by the end of the year.

Looking further into the future, Metacade looks set to secure a significant chunk of the GameFi market, meaning that if the project can continue to build momentum, an MCADE price of $6 is more than achievable given its favorable tokenomics by the end of 2025.

Metacade vs. Ethereum Classic: What’s the best choice?

The outlook between ETC and MCADE is so different that the two projects are in different leagues. MCADE appears to be the best choice as far as investments go, and as ETC holders will be desperately hoping the Ethereum Classic price can hold steady, MCADE holders are likely to enjoy the huge profits that seem inevitable over the next few years.

You can participate in the Metacade presale here.

The post Ethereum Classic price jumping. Metacade reaching ATHs. Is this a bear market rally? appeared first on Invezz.