Ripple Keeps Falling Amid XRP-SEC Lawsuit Whilst MCADE is Selling Out in Its Presale
Ripple (XRP) has been falling sharply due to ongoing regulatory uncertainty surrounding the coin. In contrast, investors are showing an increased interest in Metacade (MCADE).
Metacade is selling out in the presale as investors flock to Web3 gaming, given how lucrative this niche is proving to be.
Why is Ripple falling?
There are a lot of reasons why investors are leaving Ripple right now. A core reason is that Ripple is basically a corporation, and people have woken up to this fact. The Ripple corporate board can essentially dictate what the network does. Additionally, more than 70% of Ripple coins out there are owned by only 10 users. This is in stark contrast to the ideological underpinnings of cryptocurrency, where users are supposed to have control over the network.
Aside from this, the ongoing legal case between the SEC and Ripple is also impacting the price. Investors cannot be expected to maintain faith when the company can be hit with a huge fine, depending on the court ruling. It makes no sense whatsoever to invest in a company or organization with an impending lawsuit hanging over it.
The Ripple case is complex. In December 2020, the SEC filed a lawsuit claiming that the sale of XRP constituted an offering of unregistered securities with an estimated value of over $1.38 billion! The CEO and chairman are alleged of aiding and abetting Ripple’s violations.
Obviously, the fact that the leaders of the Ripple corporation are being questioned about aiding and abetting a $1.3 billion dollar crime is going to contribute to the price decline.
Ripple Price Continues To Fall
Ripple was initially touted as a fast and secure network. But since its inception, it has not lived up to its promises and there are many other blockchains that have proven to be much faster and in orders of magnitude more efficient. Ripple does not have any viable use case at the moment given the level of innovation within the wider cryptocurrency market. In contrast to the year Ripple initially rose to prominence, there is a blockchain for everything these days. It’s not the fastest or cheapest kid on the block anymore or anywhere close to it.
From an all-time high of $75, XRP has fallen to merely $9. While a lot of this can be attributed to a general fall within the crypto financial markets, Ripple does have serious issues to contend with. Its use case as a financial remittance system might not be as robust as it claimed.
Banks can now issue their own stablecoins and are highly unlikely to simply migrate to a new system with Ripple as a middleman, no matter how fast it happens to be. Instead, they are more likely to build their own internal system. Ripple’s price is falling for good reason. A Forbes article even mentioned the possibility that Ripple is just a scam.
What Is Metacade?
Metacade is a much better option, and investors are flocking to its presale. Metacade is an online Web3 gaming hub that allows for interaction between players, as well as investment. It’s a place to earn, build, and connect within Web3 gaming. That’s actually something of a mantra of theirs.
The purpose of this project is to create a virtual space where people who share similar interests can come together and enjoy all things related to GameFi. The goal is to help build the world’s first community-developed P2E crypto arcade while also providing an opportunity for everyone to experience everything that Web3 culture has to offer.
MCADE is Metacade’s native token that has multiple use cases across the platform. Users can earn more tokens by engaging with the community and staking. Revenue streams for the community include advertising, a pay-to-play arcade, tournaments, and job listings. Competitions will be launched with prizes for winners and players can network with one another and take advantage of gaming opportunities.
Is Metacade Set To Capture The Web3 Gaming Market?
This gaming demographic is young, primed, and extremely interested. Moreover, it’s poised to expand. Online products are becoming increasingly subject to gamification. This basically means that people want to play games to earn prizes. At the same time, eSports is becoming a more viable career and multi-billion dollar industry.
This trend is going to increase as the metaverse becomes more and more prominent in our lives.
And as that happens, Metacade has a very good chance of capturing this market as a one-stop shop for all things gaming related.
You can invest in a corporation with an impending $1.38 billion lawsuit, with executives that could be jailed for criminality. Or you could invest in a Metacade project that aims to capture a lucrative market by rewarding participants in a variety of different ways. This includes play-to-earn, staking, crypto job boards, prizes, and more.
Metacade’s MCADE is on the rise and selling out in its exciting presale. In contrast, Ripple is falling and could continue to fall depending on the outcome of the lawsuit.
The bottom line is that Web3 users want to invest in community-led structures that reward participants, not corporations that retain control and profits, which is why Metacade is a much better option.
You can participate in the Metacade pre-sale here.
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