Should you trade Metacade in May, even as Binance comes under pressure?
Metacade is correcting after claiming a high above $0.045
The token could benefit from increased listings and market events facing Binance
MCADE is a potential buy as a support zone develops around $0.026
Metacade is now entering an exciting phase that could make a significant difference. That is becoming available to a large number of investors after major listings on Uniswap, BitMart, and MEXC.
But even after listing on these exchanges, the token of the arcade platform has slowed down. As of press time, it exchanged hands at $0.0269, compared to its highest price of $0.045 at the start of the month. Is this a good opportunity to buy, or should investors stay away?
Binance on US probe for averting sanctions to Russia
Crypto markets could once again be staring at a red light. The world’s largest crypto exchange Binance is under probe by the US Justice Department for possible subversions of sanctions placed against Russia.
Reports indicate that the US regulators want to know if Binance helped Russian customers move money and overcome sanctions.
The Binance investigation could be monumental to crypto should US officials find the exchange guilty of the wrongdoing. As the leading exchange, increased scrutiny could spark market fears and potentially trigger fund withdrawals, as it has happened in the past.
Another potential impact is client shifts to decentralized exchanges like Uniswap. This happened when FTX collapsed in November 2022, which saw huge inflows into DEXs. Whether these two possibilities are bound to happen is highly speculative. But one thing is for sure should it occur. Tokens that are listed on DEXs like Metacade will benefit from the investor shift.
What is Metacade, and what uniqueness is it offering?
Metacade is a Web 3.0 community hub allowing gamers, developers, and crypto fans to collaborate. The platform wants to become the biggest gameFi arcade that is community governed. Investors earn through different methods – Create2Earn, Compete2Earn, and Work2Earn. They can also stake the native token to grow their bottom lines.
Since its launch and during the presale, Metacade has witnessed strong investor interest. Thanks to its robust earnings mechanics, Metacade promises to be a leader in the Web 3.0 space that is growing exponentially. The platform aims for a thriving ecosystem for its community. As such, it has committed to initiatives like Metagrants that will support new projects and applications. A platform launchpad, game testing, and advertisements are also expected to make Metacade a self-sustaining ecosystem.
Metacade more than doubles in price after exchange listings
The uniqueness of Metacade has helped the token’s presale to sell out quickly. Now, the token is at the stage of exchange listings and has successfully debuted on Uniswap, BitMart, and MEXC Global.
As analysts had projected, the price of MCADE increased exponentially on the listing. At the beginning of May, the price rose above $0.045. The token’s price during the final presale phase was $0.0.020, meaning it has more than doubled in value.
The price has now cooled, allowing investors to buy before more exchange listings follow. Let’s look at how the price could behave at the current level.
MCADE – a potential opportunity in May?
As previously pointed out, MCADE is in a correction phase. This is a normal occurrence for every token or financial instrument after a prolonged uptrend. However, investors know corrections offer a chance to buy an asset at a lower price and ride the uptrend with a lower risk-return ratio.
Metacade has been making these corrections. Each time, it has claimed a higher high and higher low. That means the token is still on an uptrend, and the correction could be an opportunity to buy.
For instance, if we look at the current price, MCADE has held to the level for the past 3 days. It means potential support is developing around $0.026. If this level holds, it could be the perfect zone to buy MCADE in May. Considering the token is already available for trading on three exchanges, trading volumes could build up, and MCADE could claim a new high.
The post Should you trade Metacade in May, even as Binance comes under pressure? appeared first on CoinJournal.