The 2022 crypto crash was especially bad for some of the more speculative crypto projects like Solana (SOL). Facing tough competition and a number of fundamental issues, Solana has struggled to maintain any level of optimism in recent months. But as the crypto crash continues to wreak havoc, a new token is rising from the ashes. It’s called Metacace (MCADE), and it may be the best project poised to take advantage of GameFi’s growth in the coming years. Today, we’re going to break down what’s going on with Solana, and why you should start considering Metacade as a serious contender to add to your portfolio.
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Solana (SOL) Faces Repeated Outages and Price Declines Amid Crypto Crash
Solana (SOL) is one of Ethereum’s main rivals in the current market. It is one of the fastest growing blockchain in crypto, utilizing an impressive combination of Proof-of-Stake (PoS) and Proof-of-History (PoH) to achieve speeds of 3500 transactions per second (TPS) effortlessly. In theory, that number could rise to 710,000, according to Solana’s documentation. When compared to Ethereum’s 30 TPS, it’s easy to see why Solana has soared through the rankings in 2021. Despite these incredible transaction speeds, Solana has had some issues. just this yeara Solana had six interruptions, one of them for an entire week in January. Along with the general crypto crash of 2022, these outages have acted as a catalyst for massive price drops. After the week-long break that began on January 6th, the SOL dropped about -23% to its low on January 10th. After another outage affected the blockchain on Jan 21, The SUN dropped more -37%, finding support three days later. Since then, the SOL price has been contained after the big crypto crash. It is currently worth $29 USD, having been unable to rise above $49 USD during the bullish prices in August. With a one-month support area trading at $30 dollars, Solana is now hovering around the June low of $26.
What is Metacade (MCADE)?
Metacade is a project that is coming with the aim of be a disruptive force in the gaming industry. Metacade is a central community where crypto GameFi enthusiasts can go to find the best Play2Earn games, live out their passions, and connect with like-minded people. The ultimate goal of Metacade is to be the world’s first player-owned virtual arcade, where you can direct the future of games, in contrast to studios far and wide. To build on this vision, Metacade is operating on a model that rewards players for their role in the community while harnessing the power of the collective to spawn some of the best Play2Earn and Web3 games the industry has ever seen.
Why is Metacade (MCADE) Expected to Outperform the Market?
As the crypto crash continues to wreak havoc, Metacade is positioning itself to quickly dominate the market during its next phase of optimism. As mentioned, Metacade is intended to attract players by rewarding them for doing what they already love to do. Every time you post a review, share some promising GameFi alpha, or participate in game testing, you will be rewarded with the MCADE token. If you are already an avid GameFi enthusiast, then you can boost your income simply by sharing your thoughts and expertise about your favorite games.
Metacade’s vision is that this will transform the community into a melting pot of ideas where developers and players are intertwined. Metacade plans to introduce a funding program called Metagrants, where developers post their ideas for the Metacade community to vote for the project they want produced. The winner receives funding from the treasury and can also receive useful and instant feedback on their prototype using the platform’s native test environment. As part of Metacade’s goal of helping players earn more from GameFi, they will also host exclusive championships where everyone can win big prizes. And even better: Metacade plans to release a job board in 2024 that could one day help someone find their way into the young Web3 industry. However, Careers aren’t the only thing you’ll find here; there will also be a fair amount of smaller work, like testing games once, that players can do for a few hours to give your regular income a boost.
Eventually, the Metacade will hand over the keys to the Metacade collective forming a decentralized autonomous organization (DAO). The most valued members will be offered leadership positions to guide Metacade into the future. This will allow MCADE token owners to vote on leadership roles, resource implementation, treasury allocation, and more, leading to a completely self-sufficient ecosystem built by players, for players.
Solana (SOL) vs Metacade (MCADE) – Which is the Best Investment?
As mentioned, Solana is having a rough time in the recent crypto crash. But interruptions are the least of her worries. As recently as October 12, Solana-based DeFi platform Mango was hacked for $100 million. Was this the first time? Not. Solana already suffered a direct attack on its users’ wallets in August, when more than $6 million dollars were stolen. Earlier, in February, a whopping $320 million was stolen from Solana.
The total cost of these hacks in 2022 alone is already over $446M USD. To put that number in perspective, that’s the same amount in security aid that the United States announced it would send to Ukraine in June. While Solana’s future remains uncertain, especially after the Ethereum upgrade boosted its potential TPS to 100,000, Metacade faces very little competition in a rapidly growing market. That alone could make the Half one of the top contenders in its field. But the features described above can easily make Metacade an epic titan in the burgeoning GameFi industry.
With these factors in mind, Metacade is probably incredibly cheap at present, in its pre-sale stage. If you’re wondering whether to invest in Solana or wait for Metacade in the wake of the 2022 crypto crash, the answer is clear: Metacade should be your first choice.
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