Monat: Februar 2023

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Can Metacade Overtake The Sandbox’s Price Prediction in 2023 and Beyond?

The Sandbox rose to mainstream stardom in 2021. However, following SAND’s decline in 2022, many have wondered what the project’s future holds. In this article, you’ll read The Sandbox’s price predictions for 2023, 2025, and 2027 and learn why Metacade could be a much better investment.

The Sandbox (SAND) Has Attracted Some Big Names

The Sandbox is one of the top metaverse tokens on the market, alongside Decentraland. Currently ranked as the 43rd largest token by market cap, The Sandbox is a virtual world that enables users to build and monetize their creations. The Sandbox lets players explore their creativity with the built-in VoxEdit and Game Maker tools. VoxEdit, for example, allows users to manipulate blocks (known as voxels) and generate virtual objects that can be used when creating experiences in the metaverse or sold for SAND tokens. 

Players can buy and sell virtual plots of land represented by LAND NFTs. Despite the ongoing bear market, these parcels of LAND still regularly fetch $1,500, reaching as high as $16,000 at the top of 2021’s bull market (CoinGecko). Given the number of world-famous brands building in The Sandbox’s metaverse, like Gucci, Adidas, HSBC, and Warner Music Group, many have been bullish on their long-term The Sandbox price predictions. 

The Sandbox (SAND) Price Prediction 2023, 2025, 2027

As of early 2023, SAND is trading for $0.70. By the end of 2023, The Sandbox price predictions currently stand at an average of $2.50, or an approximate 260% increase. By 2025, assuming metaverse adoption rates continue to grow, SAND could reach $6.53, rewarding investors that jump in today with around 830% gains. By 2027, the platform will likely have a sizeable player base. The Sandbox price predictions for 2027 place it around the $12 mark, returning around 1600% for today’s investors. 

Metacade (MCADE) Aims To Be Web3’s Home for Play-To-Earn

Metacade is a community-centric platform built for Web3 gaming. Its goal is to be a one-stop platform for all things metaverse and play-to-earn (P2E) gaming, giving players all the tools they need to make the most of these nascent technologies. It offers everything gamers could want from a gaming hub, including forums for discussing the latest titles, leaderboards to help find which games are worth playing, and spaces for reading the hottest P2E alpha. Simply put, Metacade is where you’ll be able to hang out, discuss, and learn how to get ahead in games like The Sandbox.

However, Metacade is taking the extra step to ensure its players receive as much value as possible by leveraging the power of blockchain technology. For instance, players are rewarded with the MCADE token whenever they offer game-beating tips, share in-depth reviews, or interact with the community in other ways. Not only do users directly feel the benefits of their contributions, but other players can use the information shared to their advantage – everyone wins! 

Alongside regular tournaments, prize draws, and competitions, Metacade users will even be able to find work in Web3 with the platform’s job and gig board, launching in 2024. Most anticipated by Metacade investors is the Metagrant scheme. Metagrants enable the community to put the platform’s resources to work by funding cutting-edge game development. 

Given directly to developers, Metagrants are allocated according to which game idea wins the most votes in one of the Metagrant competitions. The finished game is then added to Metacade’s virtual arcade, which it hopes to fill with dozens of community-backed titles over the years. 

Some savvy investors have realized Metacade’s potential and rushed into the MCADE presale. Within 11 weeks, thousands of investors bought around $6.2m worth of MCADE tokens. This has pushed the price of MCADE up from $0.008 to $0.014. 

Metacade (MCADE) Price Prediction 2023, 2025, 2027

By the end of the presale, MCADE will be valued at $0.02. With GameFi expected to take off in 2023, targets have been set for MCADE to reach $0.18 by the end of the year – up 800% from $0.02. By 2025, Metacade’s development will be finished and will likely be home to thousands of gamers. 

Many estimate that MCADE will be worth $0.43 by the end of 2025, returning 2050% for those late to the presale. Finally, analysts predict MCADE could be worth as much as $1.20 by 2027, delivering 5,900% gains in just four years! 

Metacade (MCADE) Has Much More Room To Grow

While The Sandbox’s price predictions certainly have some legs, it’s clear that Metacade has much more potential to grow. As interest in the metaverse and P2E gaming increases, the need for a community space will emerge, and Metacade will be ready to fill that need. Combine that with a token still in presale, and you could be looking at one of the greatest GameFi investment opportunities of 2023 and beyond.

Don’t forget MCADE is currently priced at $0.014. The predictions were based only on the final presale price ($0.02), which means your profit potential could be much higher than stated if you get in at today’s prices. If you’re considering investing in The Sandbox, why not look at Metacade’s presale instead?

You can buy The Sandbox (SAND) at eToro here.

You can participate in the Metacade presale here.

The post Can Metacade Overtake The Sandbox’s Price Prediction in 2023 and Beyond? appeared first on CoinJournal.

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Bitcoin, stocks react to hotter-than-expected CPI data

  • Bitcoin price was trading sideways after hitting highs of $22,300, with major US indexes also down.
  • The markets’ reaction comes after hotter-than-expected inflation data for the first month of 2023.
  • US CPI rose 0.5% over the month and 6.5% year-over-year.

Bitcoin was holding just above $22,000 at around 11:00 am ET, with the flagship cryptocurrency having swung from highs of $22,300 as the broader crypto market mirrored Wall Street following Tuesday’s US inflation data.

Across crypto, Ethereum first ticked closer to $1,570 across major exchanges, rising as much as 5% before the upside cooled to see ETH trade near $1,540 at the time of writing. A similar picture held for Binance Coin, with BNB nearing $300 with about 3.5% in gains before shedding some of the gains.

The action across US stocks also had the major indexes in the green premarket, before broader reaction to consumer price data released on Tuesday saw the major indexes trade lower.

The S&P 500 rose nearly 0.7% but had flipped negative after the latest Consumer Price Index (CPI) data from the US Bureau of Labor Statistics showed inflation picked up over the past one month after consecutive months of declines. The S&P 500 was down 0.6% at the time of this report.

The outlook was similar for the Dow Jones Industrial Average and the Nasdaq Composite, which were down about 0.8% and 0.6% respectively.

Markets react to January CPI data

On Tuesday morning, the US government’s data on inflation showed consumer prices rose 0.5% in January and 6.4% over the past twelve months, higher than the forecast 6.2%. 

Even for the Core CPI, which leaves out the more volatile food and energy components, the readings were 0.4% in January and 5.6% year-over-year.

The data thus showed inflation had picked up in the first month of 2023, coming in hotter than economists expected, with Wall Street reacting lower on the news as investors weigh what this means for the Fed’s interest rates path. Market observers say this could point to a higher for longer path that the Fed has previously pointed out.

Tim Seymour, the CIO of Seymour Asset Management certainly thinks this could be on the cards now.

The post Bitcoin, stocks react to hotter-than-expected CPI data appeared first on CoinJournal.

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SEC ruling on BUSD “makes no sense”, says Truflation CEO

  • Stefan Rust, CEO of Truflation, says the SEC’s ruling about BUSD being a security has no sense legally.
  • The former Bitcoin.com CEO believes there’s a political angle to the action, pointing to Binance’s freezing out of USDC last year as a likely trigger.
  • Rust’s comments follow the New York Department of Financial Services order for BUSD issuer Paxos to cease issuing new tokens.

Binance, the world’s leading cryptocurrency exchange, said on Monday that it would continue supporting the Binance USD (BUSD) stablecoin, but could look at alternatives as a new main trading pair.

The move came after Paxos, the US-regulated issuer of the stablecoin, was ordered to stop minting new BUSD by the New York Department of Financial Services (NYDFS).

It all “make no sense,” says Truflation CEO Stefan Rust

As we reported yesterday, Paxos announced it would comply with the NYDFS order. The company also said it would be terminating its relationship with Binance, but maintained BUSD is not a security. 

Notably, Paxos announced it would litigate to the extent it can, a lawsuit by the US Securities and Exchange Commission (SEC) that labels BUSD an “unregistered security.” Indeed, it pointed out that the SEC had only called into question the BUSD section of the US-regulated company.

Stefan Rust, the CEO of Truflation and former CEO of Bitcoin.com, says the SEC’s action against Paxos does not make sense – legally. He says it all looks like a politically influenced process.

“To many observers, this looks like a highly political play influenced by the fact that trading volumes of USDC – the favored stablecoin of US institutions like BlackRock (which can make or break any economy with its $10 trillion balance sheet) are dwindling in comparison to USDT and BUSD,” Rust said in a comment shared with CoinJournal.

USDC issuer reportedly complained about Binance

Over the past few months, Binance had looked to increase BUSD use across its ecosystem, including through providing no-fee trading on the stablecoin’s trading pairs. The exchange also rolled out the auto-conversion of USD Coin (USDC) and True USD (TUSD) among other stablecoins into BUSD as part of boosting liquidity in September.

It’s a move that effectively “froze out USDC” from the Binance exchange, and has coincided with a period that Circle, the company behind the rival stablecoin, reportedly filed a complaint with the NYDFS over allegations of reserves mismanagement by Binance.

Rust, a leading blockchain entrepreneur and crypto investor,  suggests BUSD’s significant growth in terms of volume, as that of USDC dwindled, may have something to do with the regulatory action against BUSD issuer Paxos.

“It could be possible that behemoth investors in USDC like BlackRock – which directed and brokered the US government’s entire response to the global financial crisis of 2008 – might be keen to halt the progress of BUSD,” the Truflation CEO noted.

“Indeed, the SEC and other regulators have made no secret of their intention to pin Binance’s management team for any number of reasons, from money laundering to flouting US sanctions against other countries (which arguably has nothing to do with Binance as a non-US entity),” he added.

The SEC’s investigation against Paxos and the allegation that BUSD is a security follows comments made in September by SEC Chair Gary Gensler about stablecoins having features that are similar to, or that potentially compete with money market funds, bank deposits and other securities.

In a written speech published on 8 September 2022, Gensler said that these types of tokens, while used primarily as a means to participate in the market, still raised important policy issues.

He noted that if this is deemed the case, then the stablecoin issuers would have to register them as so and provide needed investor protections. He said:

“Depending on their attributes, such as whether these instruments pay interest, directly or indirectly, through affiliates or otherwise; what mechanisms are used to maintain value; or how the tokens are offered, sold, and used within the crypto ecosystem, they may be shares of a money market fund or another kind of security. If so, they would need to register and provide important investor protections.”

On Monday, Binance CEO Changpeng Zhao tweeted that should BUSD be deemed a security, the ruling could have “profound impacts” on crypto development.

The post SEC ruling on BUSD “makes no sense”, says Truflation CEO appeared first on CoinJournal.