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2023 is expected to be a wild ride for crypto. With some forecasting a raging bull market, many investors have begun wondering, “should I invest in Ethereum?”. In this article, you’ll find an Ethereum price analysis that can help guide your investment, and all you need to know about one of the most hyped projects of 2023, known as Metacade.
Ethereum (ETH) Holds Plenty of Promise in 2023 Following the Merge
Ethereum is the world’s leading layer-1 network and the second most valuable cryptocurrency. It’s the blockchain of choice for developers looking to build decentralized applications, exchanges, financial products, and NFT projects.
Recently, Ethereum completed its most significant upgrade yet, known as the Merge. This saw the network transition from a proof-of-work consensus mechanism to proof-of-stake. While there weren’t many immediate effects for most ETH holders, the upgrade opens doors for Ethereum to make significant developments in the near future.
For example, it paves the way for sharding, which is expected in mid to late 2023. Once implemented, sharding will allow the network to perform transactions at a rate of around 100,000 transactions per second (TPS). Compared to its current TPS of 15 to 30, this could be critical for Ethereum’s adoption outside of the crypto sphere.
Moreover, it’s expected to lower the chain’s energy consumption by approximately 99.5%, making it one of the most environmentally friendly cryptos. There’s even the potential for ETH to become deflationary, given that its burn rate could outpace the ETH issuance rate, which was slashed by roughly 90% following the Merge.
Ethereum (ETH) Price Analysis
After tumbling -36% from $1680 to $1073.53 following the FTX contagion, ETH has been bullish since the start of 2023. It’s climbed 20.56% from $1192.72 on January 1st to a high of $1438 on the 12th, yet seems to have stumbled in this area of resistance.
According to expert Ethereum price analysis, ETH could move higher to test the $1500 or $1550 regions, but it wouldn’t be surprising if prices fell from here to reach $1340. Overall, the Ethereum price analysis forecast for the coming weeks is expected to be bullish but will likely falter and move lower once it hits $1500 or $1550.
Metacade (MCADE) Could Shake Up the Play-To-Earn Market For Good
Metacade is a social hub built for all things play-to-earn (P2E) gaming. Despite being a relatively new project, investors have flooded into the MCADE token presale thanks to its incredibly exciting value proposition.
At its core, Metacade is a gaming community complete with forums, chat rooms, reviews, leaderboards, and tournaments. But, by harnessing the power of blockchain technology and Web3, Metacade is expected to transform the way community hubs are owned and operated.
For example, it incentivizes users to post reviews, leading GameFi alpha, and other valuable content with the MCADE token. Regardless of your experiences, you’ll be able to earn by sharing your thoughts, knowledge, and opinions on the latest P2E games.
In late 2023, it’ll also launch the Metagrant initiative, which is expected to set the standard for community-determined funding. Metagrants allow Metacade users to allocate the treasury’s resources to developers creating games they want to play. To enter, developers simply submit their game proposals to one of the Metagrant competitions. The concept gaining the most votes is allocated funding to kickstart development, with the finished title added to the virtual arcade.
The endgame for Metacade is to become a decentralized autonomous organization (DAO), forecast for late 2024. This move will allow Metacade users to truly decide the future of the platform they call home. They’ll be able to vote on new features, partnerships, and upgrades - and even decide the MCADE burn rate.
In the meantime, however, Metacade is expected to benefit heavily from the growth GameFi will see in 2023. According to a report by Crypto.com, the GameFi industry is predicted to expand 10x faster than traditional gaming by 2025. These aspects combined have led to a surge in investment during the MCADE presale, raising $1.12 million in the beta sale and reaching over $3 million as it begins stage 2 of its presale.
Predictions for Metacade (MCADE) in 2023
Right now, the MCADE token is priced at $0.012 but this number will increase to $0.02 by the end of the presale. The token will be hitting mainstream exchanges soon, which could see it blow the Ethereum price analysis out of the water. If Metacade follows in the footsteps of similar companies, like The Sandbox and Decentraland, the price of MCADE could jump to $0.50 by the end of 2023. Investors should get in as soon as possible so they can take advantage of Metacade’s low presale token price!
Metacade (MCADE) Could Be the Greatest Investment Opportunity of 2023
While it’s not yet known how Ethereum and Metacade will perform in 2023, there’s one thing that is certain: Metacade is definitely worth watching this year. With a first-move advantage in one of entertainment’s fastest-growing industries, a host of innovative features, and the backing of thousands of investors, the MCADE token could be one of the highest-returning tokens of 2023.
With the presale attracting more and more interest every day, it might be wise to check out the MCADE token sale before prices increase. Forget any Ethereum price analysis; Metacade looks set to be a much more profitable investment choice for 2023.
You can buy Ethereum (ETH) at eToro here.
You can participate in the Metacade presale here.
Disclaimer: Insights provided by crypto industry players and is not a part of the editorial content of BanklessTimes.
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