Tether (USDT) has almost recovered from the bear market, with its total market cap recently crossing $83 billion, just below its all-time high of $84.1 billion. This could potentially signal an upcoming bull cycle and may present an excellent opportunity for investors to purchase cryptocurrencies like Metacade.
The recovery of USDT is a positive development for the cryptocurrency market, especially after the banking crisis in the US, which caused the supply of USDT’s rival, Circle’s USDC, to decline from nearly $47 billion to $27.8 billion.
Data provider Kaiko reveals that the rising USDT isn’t due to an increase in trading volumes, but rather due to offshore trading among market makers and whales.
If the cryptocurrency market embarks on a rally, Metacade could be one of the biggest winners. The native token of the Metacade ecosystem is trading at a discount, down by 53% from its all-time high at $0.04569. The team is working to introduce new web3 experiences and launch a decentralised autonomous organisation (DAO) by next year.
MCADE is currently listed on Uniswap, MEXC, and BitMart and is working to get listed on other leading exchanges. Thus, this could be an excellent buying opportunity for investors who want to take advantage of the potential of the project.