• Metacade (MCADE) price has jumped by 275% from its all-time low, making it one of the best-performing cryptocurrencies in the world.
• Macro events seem to favor cryptocurrencies and other assets, such as the Federal Reserve’s decision to hike interest rates.
• The number of MCADE holders has continued rising in the past few weeks, indicating that the token is gaining traction.
Metacade Price Rally
The Metacade (MCADE) price has jumped by 275% from its all-time low, making it one of the best-performing cryptocurrencies in the world.
Macro Events Favor Cryptocurrencies
The Federal Reserve recently decided to hike interest rates by 0.25%, bringing them to about 5.25%. This suggests that they have now ended their hiking cycle due to signs that the American economy is slowing down. Furthermore, retail sales have slowed while inflation remains stubbornly high, and banks are at a significant risk of collapse. Therefore, there is a likelihood that Metacade will and other altcoins will do well because of Bitcoin’s role as a safe haven asset against these macroeconomic events.
Increasing Number of Holders
Data compiled by Etherscan shows that the number of MCADE holders has continued rising in the past few weeks – currently standing at 9,239 – which is much higher than where it was last month. This indicates that more people are investing in Metacade and gaining traction for this cryptocurrency token.
Technicals Are Supportive
In addition to macro events favoring cryptocurrencies, technical analysis also supports investing in Metacade after its recent rally. After reaching an all-time high on April 30th this year, MCADE pulled back before bouncing back up again and breaking out above resistance levels at $0.3054 on May 3rd 2021; currently trading near $0.40 with strong support at $0.3300 level, indicating further upside potential for this cryptocurrency token if those support levels hold up over time.
Conclusion
Overall, with macro events favoring cryptocurrencies while technicals are supportive of MCADE’s recent rally; investing in Metacade could be a good option for investors looking for long term returns as this digital currency continues gaining traction among buyers and traders alike worldwide..