• The Metacade (MCADE) price has increased by 275% since its all-time low.
• Macro events such as the Federal Reserve’s decision to raise interest rates favor cryptocurrencies.
• There is important news that could further push the token higher, such as increasing MCADE holders.
What Is Metacade?
Metacade (MCADE) is a cryptocurrency that went public in April this year and has seen tremendous growth since then, with its price jumping by more than 275% from its all-time low.
Why Are Macro Events Favorable To Cryptocurrencies?
The Federal Reserve recently decided to hike interest rates by 0.25%, bringing them to around 5.25%. This suggests that the Fed has now ended its hiking cycle due to signs of economic slowdown, including slowing GDP growth and contracting manufacturing sector in April. Additionally, the banking sector is facing significant risk with several banks being seized or their stocks tumbling significantly in recent weeks. In this environment, it is difficult to see the Fed continuing to raise rates further, which could benefit cryptocurrencies like Metacade due to Bitcoin’s role as a safe haven asset and its outperformance relative to stocks so far this year.
Why Is Important News Pushing The Token Higher?
Data compiled by Etherscan reveals that the number of MCADE holders has been steadily increasing over the past few weeks, currently standing at 9,239 – much higher than last month’s figure. This shows that people are increasingly interested in investing in this cryptocurrency and is likely pushing up its value further.
What Are The Benefits Of Investing In Metacade?
Investors can benefit from investing in Metacade for several reasons: macro events appear favorable towards cryptocurrencies; there are important news updates pushing up token prices; and there is an increasing number of holders of MCADE tokens who could help drive prices even higher in coming weeks or months.
In conclusion, investors should consider investing in Metacade given the macroeconomic factors supporting crypto assets as well as important news updates that suggest increasing demand for MCADE tokens from potential investors and existing holders alike.