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By Crypto Advertising – 15 Mar 2023
SPONSORED POST*
Since many projects have not yet exited the scene after the cryptocurrency market crash, you might wonder what will happen to Avalanche in 2023. Hint: it does not look good. In this article you’ll read why Avalanche may underperform this year, find Avalanche price forecasts, and learn why investors consider Metacade a much better alternative.
Summary
Avalanche is a relatively new layer-1 network, launched in September 2020. Like other third-generation layer-1 solutions, Avalanche aims to solve the scalability, security and decentralization problems that plague most cryptocurrencies, often referred to as the blockchain trilemma.
However, despite being the 17th most valuable cryptocurrency with a market capitalization of more than $6 billion, Avalanche has faced criticism for its low adoption and limited use cases, especially compared to other similar projects such as Ethereum, BNB or Solana. Given the high level of competition in the layer-1 space, it seems unable to distinguish itself from its competitors in a meaningful way and has suffered as a result.
During the cryptocurrency market crash of 2022, AVAX was hit particularly hard, losing much more value than other projects. It fell more than 92 percent from a high of $147 in November 2021 to a low of $10.70 earlier this year.
Ethereum, meanwhile, has seen a decline of about 82 percent from bullish market highs to lows in June last year. Avalanche’s devastating underperformance testifies to investors’ wariness of buying this highly speculative project.
These downsides have put many analysts on edge regarding Avalanche’s price forecast for 2023. Having recently given the first downward signs in months, many have positioned their short-term price forecasts for Avalanche around $13, losing 35 percent from its current price of $20.
In a bullish scenario, most forecast Avalanche’s price to be around $40 by the end of 2023: rather poor earnings for a bullish market. Should the cryptocurrency market slump continue, many experts predict that AVAX could bottom at $7.60, a 62 percent drop from today’s price.
Given AVAX’s poor performance during the recent cryptocurrency market crash, many investors have been looking for projects that could offer better returns in 2023. One such project is Metacade, a GameFi platform that has performed well in the presale. Metacade is a play-to-earn (P2E) community hub where members can connect with like-minded gamers, increase their GameFi revenue, and make their mark on the future of gaming.
Metacade’s vision is to help everyone succeed in the world of P2E. To that end,it will introduce a full suite of features designed to help players get ahead, from forums to discuss the latest strategies, to the best alpha versions shared by P2E veterans.
To encourage members to share their knowledge with the rest of the community, Metacade will reward users with the MCADE token whenever they share reviews, tips, or other valuable content. In this way, Metacade has the potential to become Web3’s ultimate destination for learning about and earning more from P2E.
Other revenue opportunities, such as regular tournaments and prize draws, a testing environment where users can offer feedback on the latest games in exchange for extra money, and even a job board planned for 2024, have drawn a lot of attention to Metacade’s ongoing presale. One of Metacade’s most interesting features, however, is its Metagrant system.
Essentially, Metagrants offer the community a way to democratically fund the latest P2E games by voting for developers they deem worthy of funding for their ideas. The finished game will be added to Metacade’s virtual game room, where anyone can log on and enjoy it. This initiative promotes a sense of community ownership and involvement unlike any other Web3 social platform and could raise awareness of Metacade even if just one of these games takes off.
Due to Metacade’s outstanding proposition, the current MCADE presale ended quickly. In 16 weeks since launch, more than $10m tokens have been sold, with each phase ending faster than the previous one.
As a result, experts have been particularly optimistic about the MCADE token. The presale will end with a price of $0.02 per token, but many have predicted that MCADE could be worth at least $0.25 by the end of 2023, an incredible return of 1,150% in just under a year.
Some have gone so far as to make predictions about the price of Metacade between $0.40 and $0.60. If MCADE reaches $0.60, even investors who participated at the end of the presale could get a 2,900% rise.
It is clear that Avalanche’s price forecast is far from exciting. At best, AVAX doubles in price. But in the worst case, it could fall by an additional 63 percent. Considering the number of much more promising layer-1 projects out there, it is hard to find a compelling case for investing in AVAX.
Take MCADE, for example, whose token has seen a surge in presale due to the unique features it intends to offer P2E players and its “community-first” philosophy. Keep in mind that predictions about MCADE refer to its final presale price; these returns could be higher if you invest now, as MCADE is currently selling for $0.017.
However, it is best to be quick. As mentioned above, each leg has sold out faster than the last, which means you could miss out if you don’t act fast. If you are considering investing in AVAX, it may be time to reconsider. Instead, take a look at MCADE’s presale before it is too late.
You can buy Avalanche (AVAX) on eToro here.
You can participate in Metacade’s presale here.
*This article has been paid for. The Cryptonomist did not write the article or test the platform.
Do you want an article to be published on Cryptonomist? Do you want to advertise your project? Send an email at [email protected]
Alessandro Adami – 9 Sep 2023
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