Metacade’s native token, MCADE, has surged by over 13% in the past seven days and is now trading above $0.024. This rally comes at a time when the cryptocurrency market is recovering after the agreement on the debt ceiling over the weekend.
The cryptocurrency market has been underperforming for most of May, with Bitcoin, the leading cryptocurrency by market capitalization, falling by almost 5% since the beginning of the month. However, this week has brought relief to the market, with Bitcoin rising by more than 3% in the past few days. MCADE has also risen by more than 6% in the past seven days.
The impending vote on the debt ceiling in the United States has led to a positive mood in the market. Over the weekend, an agreement was reached between President Biden and the leadership of the House of Representatives. The House leadership agreed to suspend the federal government’s debt ceiling of $31.4 trillion.
Although the agreement was reached between McCarthy and Biden, it still needs to be passed by Congress later this week. The vote is expected to take place tomorrow, May 31st, before the US runs out of money to pay its debts on June 1st.
The cryptocurrency market was in a downtrend at the beginning of the month as investors continued to fear that there would be no agreement. The deal brought optimism to the market, indicating that the United States would not default on its payments. A default in the US could lead to a recession, which could cause massive losses in the cryptocurrency and other financial markets.
Bitcoin and other cryptocurrencies have been performing well since the announcement of the deal over the weekend. Bitcoin reached a low of $25,800 last week but has since rebounded, surpassing the $28,000 mark on Monday. At the time of writing, the price of Bitcoin is trading at $27,710 and has risen by less than 1% in the past 24 hours.
MCADE, the native token of the Metacade ecosystem, has performed well in recent days. The token’s value has risen by 13% in the past seven days, outperforming the broader cryptocurrency market. Metacade is currently trading at $0.0248 per coin, close to the all-time high of $0.034 set a month ago.
MCADE could continue to rise in the short term if the fundamental data of the broader cryptocurrency market continues to improve. In addition to being listed on popular exchanges, including UniswapMEXC and BitMart, the Metacade team is preparing to launch Metacade Lite in two days.
Metacade Lite aims to provide users with their first experience of the app UX. It offers users a selection of Web2 and Web3 games and gives users a taste of the GameFi ecosystem that Metacade is building. Metacade continues to be proud of its unique GameFi project that aims to provide its users with exciting gaming adventures. With its plan to transition to a DAO in 2024, MCADE could see massive gains with increasing acceptance of the Metacade project.
For investors, Metacade could be an exciting project, with the development team continuing to work on launching its GameFi platform. Moreover, the team is working hard to list MCADE on numerous cryptocurrency exchanges. With such plans in place, MCADE could be on the right path to generate gains in the coming months and years. Metacade is still in its developmental phase and could prove to be an excellent investment for early investors.
