This year looks promising for cryptocurrency investors. There are a lot of projects that could make huge market movements. This article looks at the factors that could affect the pricing of Metacade, Cardano and Solana in the first quarter of 2023. Insights and forecasts regarding these three digital assets are also provided.
What Is Metacade (MCADE)?
Metacade is a new community hub for play-to-earn (P2E) gaming, which is expected to play an essential role in the gaming industry of the future. It is an online platform where gamers can connect with each other and learn how to make more money through P2E games. The website provides forums, reviews, leaderboards, alpha releases, and a virtual arcade created especially for Web3.
One of the most remarkable features of Metacade is its rewards program. Every time a user shares helpful content such as tips and reviews, they will be rewarded with MCADE tokens. If a user has mastered the P2E skills, they can join tournaments for the chance to win big prizes.
Metacade is also aiming to finance the next round of P2E titles through Metagrant. This is a community-allocated funding mechanism that allows users to vote on which games should be funded. The winner will get the funds to develop their game and promote it through the Metacade virtual arcade. With GameFi set to dominate 2023, Metacade is expected to have a successful year. The presale has already raised $1.25 million for P2E, and the first quarter of 2023 could be an exciting month for those who got in early.
Metacade (MCADE) Price Forecast Q1 2023
Metacade is expected to close its presale at $0.02 in early 2023. The presale opened at $0.08 and the price has been increasing in each stage. Right now, investors can purchase tokens starting at $0.01 in the pre-sale stage 1. Tokens from presale are often unreliable, but the rapid growth of the P2E sector and its tokens can be beneficial. Metacade’s unique role as a community hub is likely to protect it from dropping prices. It is estimated that MCADE will reach $0.08 by the end of Q1 2023, which is four times its presale ending price of $0.02.
What Is Cardano (ADA)?
Cardano is a Layer 1 blockchain and a platform for developers to build decentralized applications (dApps). The designers of Cardano prioritized scalability and security and, despite criticism, this approach seems to have paid off, although it is slow in updating its network.
2023 is set to be a big year for Cardano. In January, they will launch DJED, an algorithmic stablecoin that will open up the DeFi ecosystem to Cardano. They are also developing a new privacy-focused blockchain called Midnight, which will be a sidechain of the main Cardano network. Finally, they are working on Hydra, a layer 2 protocol that could potentially increase Cardano’s speed to 1,000,000 transactions per second (TPS), with an expected release in late 2023.
Cardano (ADA) Price Forecast Q1 2023
Despite these exciting developments in the Cardano ecosystem, the bear market of the past few years has been hard on ADA. It is currently worth $0.25, which is 91% lower than its all-time high of $3.10 in August 2021. If the market turns in its favour, ADA could experience a pullback to $0.40 or higher in Q1 2023. However, if the market continues to decline, a drop to $0.20 or even $0.16 could be possible. You can buy ADA tokens through eToro.
What Is Solana (SOL)?
Solana is another platform that enables developers to create and deploy dApps quickly and easily. Its proof-of-history consensus mechanism allows it to reach speeds of up to 65,000 TPS, with a theoretical maximum of 710,000 TPS, according to the Solana documentation.
Despite its potential, things have not gone as expected for one of the fastest blockchains in cryptocurrency. After five outages in 2022, Solana has often been seen as unreliable, leading to a poor reputation and discouraging investors. In April 2021, SOL dropped nearly 72% within 17 days of the FTX collapse after it became clear that one of FTX’s sister companies had $1.2 billion in SOL or 8.75% of the total circulating supply.