A wild ride is expected for cryptocurrencies in 2023. With some predicting a crazy bull market, many investors are wondering, “Should I invest in Ethereum?” In this article, you will find an Ethereum price analysis that can help you with your investment and everything you need to know about one of the most hyped projects of 2023, Metacade.
Ethereum (ETH) has a lot to do after the 2023 merger
Ethereum is the world’s leading Layer 1 network and the second most valuable cryptocurrency. It is the blockchain of choice for developers looking to build decentralized applications, exchanges, financial products and NFT projects.
Ethereum recently completed its biggest upgrade yet, known as a merger. Thereby, the network was switched from a proof-of-work consensus mechanism to a proof-of-stake. Although there was no immediate impact for most ETH holders, the Ethereum upgrade opens up the possibility of significant developments in the near future.
For example, it paves the way for cutting, which is expected in mid-to-late 2023. Once sharding is implemented, the network will be able to process transactions at a rate of around 100,000 transactions per second (TPS). Compared to the current 15 to 30 TPS, this could be crucial to Ethereum’s acceptance outside the cryptosphere.
Furthermore, the chain’s energy consumption is expected to decrease by around 99.5%, making it one of the most environmentally friendly cryptocurrencies. There is even a possibility of ETH becoming deflationary, as its burn rate may exceed the ETH issuance rate, which has fallen by about 90% since the merger.
Ethereum (ETH) Price Analysis
After plunging 36% from $1680 to $1073.53 in the wake of the FTX contagion, ETH has been on a rebound since early 2023. It rallied 20.56% from $1192.72 on January 1 to a high of $1438 on January 12, but appears to be faltering in this resistance area.
According to experts’ Ethereum price analysis, ETH could still go higher and test the $1500 or $1550 area, but it would not be surprising if prices fall to $1340 from here. Ethereum price analysis predicts a general uptrend for the coming weeks, but it will likely stall and turn down if it hits $1500 or $1550.
Metacade is a social hub for everything you can play to earn (P2E). Despite being a relatively new project, investors have flocked to the MCADE token sale due to the incredibly exciting value proposition.
At its core, Metacade is a gaming community with forums, chat rooms, ratings, leaderboards and tournaments. By leveraging blockchain technology and Web3, Metacade aims to transform the way community hubs operate.
The MCADE token gives users an incentive to post their own content and run GameFi Alphas. Regardless of your experience, you can earn money by sharing your thoughts, knowledge and opinions about the latest P2E games.
At the end of 2023, the Metagrant initiative will also be launched, which aims to set the standard for community-driven funding. Metagrants allow Metacade users to give Treasury resources to developers who create games they want to play. To participate, developers simply submit their game proposal to one of the Metagrant competitions. The concept that gets the most votes will be given funding to start development and the finished title will be added to the virtual arcade.
Metacade’s goal is to transform into a decentralized, autonomous organization (DAO) planned for the end of 2024. This gives Metacade users a say in the future of the platform they call home. You can vote on new features, partnerships and upgrades – and even determine the MCADE burn rate.
In the meantime, however, Metacade should benefit greatly from the growth that GameFi will experience in 2023. According to a report by Crypto.com, the GameFi industry is expected to grow 10 times faster than traditional gambling by 2025. These aspects have caused investments to skyrocket during MCADE’s presale: $1.12 million was raised in the beta sale, and at the start of phase 2 of the presale, it has already exceeded $3 million.
Right now, the price of the MCADE token is $0.012, but it will increase to $0.02 by the end of the presale. The token will soon be traded on mainstream exchanges and may then interrupt the Ethereum price analysis. If Metacade follows in the footsteps of similar companies like The Sandbox and Decentraland, MCADE’s price could rise to $0.50 by the end of 2023. Investors should jump in as soon as possible to take advantage of Metacade’s low presale token price!
While it is not yet known how Ethereum and Metacade will fare in 2023, one thing is for sure: Metacade is definitely worth watching this year. With a first-mover advantage in one of the fastest-growing entertainment industries, a wealth of innovative features, and the backing of thousands of investors, the MCADE token could be one of the highest performing tokens in 2023.
As the presale is attracting more interest every day, be sure to check out the MCADE token sale before prices go up. Forget any Ethereum price analysis; Metacade looks set to become a much more profitable investment opportunity in 2023.
You can trade Ethereum (ETH) on eToro here buying.
You can here participate in the Metacade Presale.
Disclaimer: Insights provided by crypto industry players and not part of CryptoMonday’s editorial content.