Metacade (MCADE) and Polkadot (DOT): Two Projects to Consider for 2023
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With the crypto bear market looking like it’s finally starting to bottom out, it’s time to look for those projects with the most potential for 2023. Some investors have turned to Polkadot, a so-called ‘Ethereum killer’, that’s trading well below its 2021 peak at the moment. However, a new entrant to the market, Metacade, has also been turning heads with its plans to lead the future of Play to Earn and Web3.
Today, we’re going to dive into both projects and give our verdict on which one could deliver you outstanding gains in the bull market of 2023.
Polkadot, alongside blockchains like Avalanche and Solana, is one of many Ethereum competitors that were launched to solve the various problems facing crypto’s leading utility token. Its primary purpose is to solve the issue of interoperability facing many blockchains today.
Interoperability allows different blockchains to communicate and perform transactions without requiring a trusted third party, making individual blockchains more scalable and secure. As one of the leaders in this field, Polkadot aims to be the backbone of future blockchain technology, supporting hundreds of both public and private blockchains.
This innovation led Polkadot to rise rapidly in 2021. After launching publically at $2.09 in August 2020, DOT soared to peak at $55.09 in November 2021 - an approximate 2500% increase. However, following the bear market of 2022, DOT has contracted significantly. As of October 2022, it’s worth just $6.08. Given Polkadot’s ambitious plans for the future, such as increasing transaction speeds tenfold by the end of 2022, DOT could be trading at a steep discount right
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