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ADA price is trading in a bearish zone below the $0.356 support zone against the US Dollar.
The price is now trading below $0.356 and the 55 simple moving average (4-hours).
There was a break below a key bullish trend lien with support at $0.3480 on the 4-hours chart (data feed via Coinbase).
The price could continue to move down if it stays below the $0.3560 resistance zone.
Cardano price is struggling below $0.356 against the US Dollar, similar to bitcoin. ADA price could start a fresh increase if it clears the $0.356 and $0.370 resistance levels.
Cardano Price Analysis
In the past few days, cardano price saw a fresh decline from the $0.388 zone against the US Dollar. The ADA/USD pair declined below the $0.375 and $0.365 support levels.
The price even declined below the $0.356 support and the 55 simple moving average (4-hour). The bears were able to push the price below the 50% Fib retracement level of the upward move from the $0.3100 swing low to $0.3872 high.
Besides, there was a break below a key bullish trend lien with support at $0.3480 on the 4-hours chart. The pair is now trading below $0.356 and the 55 simple moving average (4-hours).
On the upside, an immediate resistance is near the $0.3485 zone. The first major resistance is near the $0.356 level and the 55 simple moving average (4-hours). A clear upside break above the $0.356 level might send the price towards the $0.375 resistance. Any more gains could start a steady increase towards the $0.400 level.
On the downside, an immediate support is near the $0.338 level. It is near the 61.8% Fib retracement level of the upward move from the $0.3100 swing low to $0.3872 high.
The next major support is near the $0.322 level, below which the price may perhaps decline towards the $0.300 support level. Any more losses might call for a test of the $0.284 level.
Cardano (ADA) Price
The chart indicates that ADA price is now trading below $0.356 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it stays below the $0.356 resistance zone.
4 hours MACD – The MACD for ADA/USD is now gaining pace in the bearish zone.
4 hours RSI – The RSI for ADA/USD is now below the 50 level.
Key Support Levels – $0.320 and $0.300.
Key Resistance Levels – $0.356 and $0.388.
The post Cardano (ADA) Price Analysis: Risk of More Downsides Below $0.35 appeared first on Live Bitcoin News.
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The metaverse is increasingly relying on cryptocurrencies to fund virtual worlds and support virtual land sales. Many metaverse providers now have their own native currencies to support the development of digital worlds on blockchain technology.
Metaverses are being used in a variety of ways, with the development of digital assets for gaming, virtual shopping, digital art exhibitions, and virtual meeting rooms. With the digital world of the metaverse expected to grow exponentially in the coming years, there is ample scope for wiser investors who choose to buy relevant coins at the right time.
With that in mind, here are the 12 best crypto projects in the metaverse to invest in for substantial gains in 2023:
The Sandbox (SAND)
Axie Infinity (AXS)
Ethereum (ETH) Metacade (MCADE)
The Sandbox (SAND)
Axie Infinity (AXS)
Star Atlas (ATLAS)
Enjin Coin (ENJ)
Sushi Swap (SUSHI)
Gala Games (GALA)
Star Atlas (ATLAS)
Enjin Coin (ENJ)
Sushi Swap (SUSHI)
Gala Games (GALA)
Metacade (MCADE) – An exciting cryptocurrency from the GameFi metaverse
What is Metacade?
Metacade will contain the largest selection of blockchain-based gaming experiences in the Web3 area and will become the world’s first metaverse-based game room. The arcade will combine casual and competitive gameplay and various titles, probably the largest in the GameFi sphere.
An unparalleled play-to-earn (P2E) mechanism forms its beating heart, rewarding players as they do what they love most. However, one of Metacade’s main strengths, which sets it apart from other GameFi titles, are the other revenue streams available to Metacade’s community of game and cryptocurrency enthusiasts.
Its new Create2Earn feature rewards content creators every time they post on the hub. Rewards will be awarded for each interaction, including game reviews, sharing of alpha versions, and contributions to Reddit-style sub-forums and live chat.
In addition, Metacade has a token betting system under the Compete2Earm program, where users can bet their participation in MCADE in exchange for participation in online tournaments and prize draws. Meanwhile, the Work2Earn initiative will help the Web3 industry at large by sharing the most exciting job opportunities in the blockchain industry with the most exciting new talent in its community.
The Work2Earn program is Metacade’s flagship Metagrants program. This initiative encourages the creation of new titles exclusively for the platform by providing funding for new developers. Each idea is pooled and voted on by the community, and the most interesting ones are selected and go into production. Developers can further their careers as Metacade continues to evolve through the regular release of new titles.
Why you might want to invest in MCADE
Metacade launched its native MCADE token in late 2022 and has already become a resounding success, raising $12.2m in just 17 weeks. This momentum continues to build as investors flock to one of the most exciting crypto projects available to the crypto community while the price remains at low levels.
MCADE tokens are currently available at a price of $0.0185 during the final phase of the presale event and will increase to $0.02 near the end. At this point the coin will be available on exchanges and experts expect a surge in demand for the tokens.
With excellent utility levels embedded in the MCADE coin and very strong tokenomics due to the total supply of two billion tokens, participating in the MCADE presale ahead of time could produce huge gains for early investors in 2023.
>>> You can participate in the final phase of the Metacade presale here <<<
AltSignals (ASI) – Trading signals enhanced by new AI feature coming soon
What is AltSignals?
AltSignals, while not specifically a project of the metaverse, is one of the most attractive investment opportunities in the market right now, with potentially huge returns available in 2023. Like most other token projects, AltSignals also boasts earnings potential.
It is an online trading community that produces buy or sell signals for its members to help them make efficient and profitable trading decisions. The platform recently released its AltAlgo algorithmic trading indicator, cpn a well-demonstrated success rate. AltSignals is preparing to launch its native token, ASI, along with an enhanced artificial intelligence toolkit.
In the future, ASI token holders will have access to ActualizeAI, a technology stack that will use cutting-edge AI technologies, including machine learning and predictive modeling algorithms combined with natural language programming (NLP), to scan the markets 24/7 in real time, thus returning the most up-to-date and accurate trading information for its community.
This new artificial intelligence capability of AltSignals looks set to take the trading signals industry into a new realm, and from one of the most trusted platforms in the market, AltSignals will also become a leader.
Why you should invest in the ASI token presale
ASI token holders can immediately access ActualizeAI signals and join the AI Members Club. In addition, ASI token holders enjoy additional benefits, including governance rights and access to beta testing. Users can earn cryptocurrency rewards whenever they provide feedback to the platform on new features.
The ASI token is a first for a platform that wants to position itself among the leaders of the AI revolution. With several projects in the metaverse looking to adopt AI capabilities into their platforms, the token will likely go up in price once the presale event is over and the token enters public cryptocurrency exchanges. This presents an excellent opportunity for cryptocurrency investors interested in AI and its impact on the metaverse to participate at an extremely low price.
>>> You can participate in the AltSignals presale here <<<
The Sandbox (SAND) – 3D virtual world with the support of a celebrity
What is The Sandbox?
The Sandbox is a 3D digital world where virtual lands are bought, sold and traded. Users can use their digital lands to build anything from digital art galleries to virtual theme parks, from games to meeting rooms. They can also monetize the experience through the platform’s native token, SAND, and even create avatars.
Cryptocurrencies of the metaverse can be earned through the platform’s P2E metaverse mechanics, and the appeal lies in the wide number of use cases of digital real estate lots. Users of all abilities can use the platform’s innovative and easy plug-and-play tools to create and exchange NFTs, digital assets, avatars and experiences in their virtual land.
The Sandbox runs on the Ethereum blockchain and provides world-class operability and security. This enables unprecedented 3D animations and models to create a fully immersive virtual reality metaverse that players can explore from the comfort of their couch using their virtual reality headsets.
Why you should invest in SAND
The Sandbox’s native token, SAND, unlocks all activities on The Sandbox platform and is required for anyone purchasing LAND in the metaverse. In addition, the SAND crypto token is used for transactions on all in-game assets in The Sandbox marketplace, where users can trade real estate plots and purchase virtual land, NFTs, and accessories.
In addition, SAND token holders gain voting rights over the governance of the platform as a full-fledged decentralized autonomous organization (DAO) and can staking tokens in the metaverse to earn passive income in SAND tokens.
Although many big names, including skateboarding legend Tony Hawk, hip-hop star Snoop Dogg, and socialite Paris Hilton have purchased lots on The Sandbox, the real value of the platform lies in the utility encapsulated in the SAND token. With ample room for growth in market capitalization and a growing number of projects that understand the potential power of the metaverse, SAND is one of the best cryptocurrencies in the metaverse to invest in for significant returns in 2023.
ApeCoin (APE) – Bored Ape Yacht Club meme coin spreading across the metaverse
What is ApeCoin?
ApeCoin is an ERC-20 metaverse token native to the well-known Bored Ape Yacht Club (BAYC) community, one of the most well-known NFT meme coins in the metaverse. Launched by Yuga Labs in 2022, it raised $320 million in a virtual real estate and land sale that gave APE token holders access to parcels of Othersdeed land in the Otherside metaverse.
Otherside is a metaverse game that will be developed in a Massively Multiplayer Online Role-Playing Game (MMORPG) virtual world integrated into the BAYC ecosystem, adding utility to its native APE token, which will be used as in-game currency.
The token was launched in March 2022 with a total circulation availability of about 1 billion coins. Since the market capitalization has increased significantly, APE has become the metaverse’s most significant token by market capitalization, a surprising achievement for a still relatively new coin.
Why you should invest in APE
ApeCoin immediately captured the imagination of NFT cryptocurrency enthusiasts due to its coveted membership in BAYC and Mutant Ape Yacht Club (MAYC), two of the most exclusive NFT clubs ever. This has helped make APE-guaranteed NFTs more valuable than others in the market.
Meanwhile, ApeCoin’s entry into the metaverse looks set to help Yuga Labs sell more as it continues to advance the development of a decentralized Web3. With an impressive market capitalization already achieved and ample room for growth, APE’s growing built-in utility makes it one of the most attractive metaverse coins currently on the market.
Benefits for APE coin holders include open access to DAO governance voting rights and exclusive access to limited edition games, events, merchandise and other services.
Axie Infinity (AXS) – Metaverse coin for NFT collection
What is Axie Infinity (AXS)?
Since its launch in 2020, Axie Infinity has quickly become one of the most popular P2E and crypto games. Built on the Ethereum blockchain, Axie Infinity is a game created in a digital universe where users collect, breed, reproduce, and equip digital pets known as Axies to complete challenges, quests, and hunts or have them battle other players’ pets, earning rewards along the way.
Axies are pets in NFT that can be bought, sold and traded outside the game in the online marketplace and have a value between $4 and $100,000, depending on their rarity. Users can also create kingdoms within the digital universe using some of the resources collected in-game.
Although players can earn passive income in the form of native AXS tokens, there is a limit to the amount available to each player in a single day. However, the open-world nature of the game has been addictive to thousands of players around the world.
Why might you invest in AXS?
Axie Infinity has carved out an impressive space in the gaming niche in the metaverse, with more than $3.6 billion in transactions in its online market to date. The play-to-earn games offered by Axie Infinity are an attractive feature, and the regular release of new aces, challenges, and quests has created a loyal and dedicated supporter base.
With AXS having a supply cap of 270 million tokens, the end of the current bearish market is an ideal time for savvy investors looking for value in the metaverse token market to buy cryptocurrencies at still low prices, leaving ample room for growth in both market capitalization and coin value.
Decentraland (MANA) – An open metaverse with endless possibilities for customization
What is Decentraland (MANA)?
Decentraland was launched in 2018 and has quickly established itself as a pioneer in the metaverse coin race. Built on Ethereum’s blockchain, it is now a major metaverse coin due to its virtual universe that allows users to use their virtual properties in any way they choose, similar to The Sandbox.
The platform’s native token, MANA, powers all activity in this virtual world, providing the medium of exchange for all transactions on the platform. This includes the buying and selling of digital plots of land, which constitute the LAND tokens on which users can build any virtual experience they wish.
LAND can be used for gaming experiences, virtual exhibitions, and even interactive experiences such as concerts and festivals, which take Decentraland users’ experience to the next level. Some critics have said that these lack diversity and that some areas of the world can be a virtual wasteland where users rarely meet other people. However, in the more “urban” spaces, there is much to see and do in an ever-evolving immersive virtual reality.
Why should you invest in MANA?
MANA is a well-established metaverse cryptocurrency that is widely available on most reputable exchanges. This metaverse refuses to rest on its laurels, which makes it one of the best crypto projects of the moment in continuous development and evolution that make it a desirable investment option for anyone who wants to participate in one of the best crypto projects in the metaverse that could offer exceptional returns.
The regular introduction of new features helps increase the usefulness of the MANA token. In addition, while MANA’s market capitalization is currently high for a metaverse project, as more people and companies begin to embrace the art of the possible with the metaverse, there is significant room for an increase in the coming months and years.
Metahero (HERO) – 3D technology that takes NFTs into a new realm
What is Metahero?
Unlike most Metaverse projects hosted on Ethereum, Metahero was recently launched on Binance’s Smart Chain and combines 3D scanning technology with NFT smart contracts to allow users to create completely unique meta-avatars and accessories to explore the Metaverse.
Metahero’s partnership with Wolf Studio, whose 3D technology has proven its value in music, games, and fashion, has made this metaverse-based virtual reality ecosystem one of the most exciting in which users can create and monetize their unique NFTs.
To help users access 3D scanning technology, Metahero plans to set up scanning rooms around the world, starting with cities such as Doha, Tokyo, Berlin, New York and Seoul. All users need to do to use the chambers is download the smartphone app and own a certain number of native HERO tokens.
Reasons to invest in HERO
Metahero is one of the most exciting metaverse projects on the market today, potentially revolutionizing the way NFTs are created and connecting the virtual world to the physical world. The 3D scanning capability adds a level of customization to the platform that other NFT creator projects cannot match.
As 3D scanning chambers become available worldwide and users begin using the platform’s online marketplace, HERO could increase its value and grow its market capital significantly in the coming months and years.
Ethereum (ETH) – The metaverse’s enabling platform remains strong
What is Ethereum (ETH)?
Although Ethereum is more of a blockchain provider than a metaverse project, the world’s largest layer 1 protocol network is also the most important facilitator of metaverse-based projects. Metaverse projects hosted on the Ethereum network include Decentraland and Metacade, which means Ethereum plays a massive role in the cryptocurrency industry.
In addition to hosting interesting metaverse projects, Ethereum’s new proof-of-stake consensus mechanism has taken its blockchain and smart contract offerings to a whole new level. Its ability to complete transactions in a matter of seconds with complete security and transparency is fending off challenges from competing blockchain providers such as Cardano and Solana, ensuring that Ethereum remains number one among the three as the metaverse project’s preferred blockchain network.
Why invest in ETH?
Ethereum is now the largest altcoin currently in circulation, and its place at the top of the rankings is assured in the medium to long term. With bullish market conditions expected to return in the coming months and years, the price of the platform’s native token, ETH, has significant room to grow along with its market capital.
In addition, further releases planned for 2023 will likely keep Ethereum as the blockchain of choice for new projects in the metaverse seeking secure, fast and reliable networks. As the metaverse continues to grow, Ethereum’s digital currency looks set to evolve, becoming a safe option for all investors looking for a reliable place to put their money.
Star Atlas (ATLAS) – Metaverse strategy gaming currency
Star Atlas is a metaverse gaming platform with ambitious plans to build one of the largest science fiction virtual universes and a highly immersive blockchain gaming experience. The robust design allows its players to play and fully immerse themselves in the deep space narrative created by the game’s designers, with rewards available for players who play, contribute to the community and discover new planets by exploring the vast open-world map.
Each player is a citizen on the game map and can participate through one of three modes: deep space exploration, interstellar combat, or base and community building on new planets. Revenue is earned through excellent P2E mechanics that provide rewards whenever users offer services to other players.
Why invest in ATLAS?
The deep and extended gaming experience and virtual reality cockpit have made the platform’s native token, ATLAS, one of the most desired metaverse gaming tokens on the market. The game’s broad scope, which leverages digital assets to deepen the online experience, makes it one of the best science fiction MMOs.
RPG enthusiasts have flocked to Star Atlas and picked up its native ATLAS currency because of the platform’s primary focus on the gaming experience, a principle that has begun to distinguish Star Atlas from other single-title GameFi titles.
Suppose the user base increases in line with the continued development of the Star Atlas metaverse. In this case, the value and market capitalization of ATLAS are potentially set to rise, making it one of the best cryptocurrency investment options for fans of the metaverse.
Enjin Coin (ENJ) – The metaverse game developers’ best friend
What is Enjin Coin?
Enjin Coin is a GameFi project hosted on the Ethereum blockchain that enables users to create and manage NFTs and play an important role in the crypto gaming metaverse. The platform provides a service to support virtual objects in blockchain-based games, metaverses and augmented reality, which means users can use NFTs they have created in different games in the metaverse.
Virtual goods such as weapons, armor and other game accessories are securely stored on the blockchain and accessible as NFTs through the Enjin Coin platform. This allows players to have complete ownership of their virtual assets, enabling them to deploy them independently through the platform’s suite of tools in newly created crypto games with ease.
Why invest in ENJ?
The native ENJ coin underpins all activity on Enjin Coin and has significant potential as the platform continues to support the burgeoning GameFi space of augmented reality. Game developers will likely rely on Enjin Coin’s simple toolkit to create NFTs and insert them into their games by the hundreds in the coming months and years, a move that will push ENJ’s value and market capitalization significantly higher as bull market conditions take hold.
In addition to the rich potential that Enjin Coin has to help determine the future of the gaming market in the metaverse, the platform already has a rich track record of collaborations with big names, such as Microsoft, Samsung, and Binance. All projects in the metaverse that attract partnerships of this caliber are excellent investment opportunities.
SushiSwap (SUSHI) – DEX with a new marketplace in the metaverse
What is SushiSwap?
Sushi Swap is a decentralized exchange (DEX) based on an increasingly popular metaverse that offers a fully integrated NFT marketplace in addition to the traditional ability to buy, sell, and trade digital currencies as you would expect from any DEX. The metaverse nature of the decentralized exchange led Sushi Swap to grow in popularity ahead of the bear market of 2022, breaking through the $500 million market capitalization barrier. Sushiswap’s native tokens are SUSHI.
The NFT marketplace is a recent addition to the SushiSwap ecosystem-the platform is trying to enter the metaverse now that it is still a relatively new idea. Users can enjoy a decentralized and fully immersive NFT trading experience that encourages community building through interaction among users.
Other options available on SushiSwap’s trading infrastructure include the ability to trade cryptocurrencies, deposit (or farm) cryptocurrencies into one of the platform’s liquidity pools to earn rewards, a cryptocurrency betting capability, and the ability to lend or borrow cryptocurrencies.
Reasons to invest in SUSHI
SUSHI is a governance token, which means that all token holders have voting rights to help determine the future direction of the exchange. This gives the SUSHI native utility token more value than other coins in the metaverse that have no governance and focus solely on utility.
This makes SUSHI an attractive investment opportunity compared to other coins in the metaverse and a cryptocurrency with proven room for growth in terms of market capitalization. As users flock to the platform to take advantage of the NFT market, investors can look forward to good returns this year, with the price of the SUSHI token expected to rise.
Gala Games (GALA) – Multi-game platform with a solid user base
What is Gala Games?
Gala Games is a multigame platform that is making inroads into the GameFi scene due to its excellent P2E mechanics. Gala aims to provide players with a fully decentralized and transparent gaming experience that surpasses traditional console and PC gaming offerings through its focus on asset ownership and community control over the future strategic direction of the platform.
Where Gala Games differs from more traditional forms of gaming is in its use of the Ethereum blockchain to allow players to fully own their in-game assets through the platform’s superior NFT technology. In addition, the P2E element provides excellent incentives for them to continue playing their titles on the platform, including RPGs, first-person shooters, and 1v1 duels.
Gala already boasts a base of 1.3 million monthly active users , an excellent demonstration of its progress in gaming in the Metaverse. As GameFi is expected to outpace the growth of traditional gaming by about 10 times in the next five years to 2028, Gala is poised to take full advantage of this growth and position itself to lead the industry.
Consequently, investing in GALA represents an irresistible opportunity, as it is one of the best-established metaverse gaming projects currently available and one of the best metaverse cryptocurrencies to invest in now, especially when compared with other metaverse platforms. GALA could grow significantly in terms of market capitalization and value as the industry grows, offering excellent returns to investors who jump on board now.
Conclusion – What is the best cryptocurrency in the metaverse to buy right now?
The metaverse cryptocurrency space is full of solid and exciting projects as well as games and platforms, any of which could provide excellent returns in 2023 for savvy investors. It is hard not to see Metacade as the most attractive investment opportunity for those looking for the best metaverse coins to invest in this year.
The platform’s rich map of projects, multiple revenue streams, and ambition to take development beyond project boundaries and into the broader metaverse sector provide the space in which Metacade can grow. The coin’s low price during the presale event looks set to explode when MCADE arrives on decentralized exchanges, making it an attractive option to buy for substantial gains in 2023.
Frequently asked questions about cryptocurrencies
What cryptocurrency does the metaverse know?
Every token in the metaverse is a cryptocurrency; however, not all cryptocurrencies are tokens based on a metaverse project. Any crypto project that involves a digital virtual world that users can explore using VR technology or from a phone, tablet or PC is a metaverse project.
Examples of cryptocurrencies known in the metaverse are MANA (Decentraland), SAND (The Sandbox), and AXS (Axie Infinity).
Does the Meta company have cryptocurrencies?
The technology company Meta, formerly Facebook, considers itself a leader in the development of metaverses. It does not currently have its own cryptocurrency.
Are metaverse cryptocurrencies a good investment?
The year 2022 was a banner year for metaverse cryptocurrencies, with many coins experiencing declines of more than 90 percent over the course of the year. This has led some analysts to rule out metaverse projects as solid investment options.
Early signs in 2023 point to a significant recovery in the sector. However, prices remain relatively low for metaverse cryptocurrencies, which means that investments in metaverse projects could be excellent for new investors this year.
You can participate in the final stage of the Metacade presale here.
You can participate in the AltSignals presale here.
*This article has been paid for. The Cryptonomist did not write the article or test the platform.
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