• Metacade (MCADE) price has jumped by 275% from its all-time low.
• Macro events favor cryptocurrencies and other assets as the Federal Reserve ends its hiking cycle.
• Metacade holders have increased significantly, indicating more widespread adoption of the token.
Invest in Metacade after Huge Price Rally
Metacade (MCADE) price has seen tremendous growth since going public in April this year, rising by more than 275% from its all-time low. Investors are keen to take advantage of this rally and invest in the token for various reasons.
Fed Pivot Favors Cryptocurrencies
The Federal Reserve’s recent decision to hike interest rates by 0.25%, bringing them to about 5.25%, is seen as a pivot that favors cryptocurrencies and other assets. This is due to signs that the US economy is slowing down with GDP data showing a slowdown in A1, contraction of the manufacturing sector, and struggling retail sales with stubbornly high inflation levels. The banking sector is also at its biggest risk in years with First Republic Bank seized recently and sold to JP Morgan, while PacWest shares tumbled by over 50%. This makes it unlikely that the Fed will continue hiking rates in such an environment and could mean good news for Metacade holders as Bitcoin serves as a safe haven asset during economic uncertainty.
Important News Could Push Token Higher
Another important reason why Metacade could soar is that there are some key news developments which could propel the price even higher. Data compiled by Etherscan shows that the number of MCADE holders has risen significantly over the past few weeks, indicating wider adoption of the token within crypto markets. Furthermore, Metacade plans on launching several new products which could expand their user base further and drive demand for MCADE tokens even higher.
In conclusion, investors looking for returns should consider investing in Metacade after its huge price rally due to macro factors favoring cryptocurrencies along with important news developments related to expanding user base and new product launches which could push token prices even higher in coming months.