Overview of Meta Art Connection (MAC)
Meta Art Connection (MAC) is an Ethereum-based cryptocurrency token that entered the market in August 2023. Designed to bridge the gap between digital art and blockchain technology, MAC aims to facilitate transactions and ownership within the art community. Its current live price is approximately $1.19 USD.
Understanding the token’s market behavior, technical indicators, and historical performance can help investors and enthusiasts make informed decisions.
MAC Price Analysis and Market Performance
Live Price and Recent Changes
As of the latest data, MAC is trading at $1.19. The price has remained relatively stable over the past 24 hours, with minimal fluctuation. Key resistance and support levels provide insight into potential price movements:
- Major Resistance Levels: $1.20, $1.21, $1.22
- Major Support Levels: $1.19, $1.16
Staying above the $1.19 support is crucial for maintaining bullish momentum. A break above $1.20 could signal an upward trend toward higher resistance levels.
Historical Performance and Trends
MAC reached its all-time high of $1.30 on March 8, 2024. Since then, the token has experienced a gradual decline but remains above its annual low of $1.15. Over the past year, MAC’s price has fluctuated between $1.15 and $1.27.
Returns and volatility metrics indicate mixed performance:
- 12-month ROI: -5.61%
- 12-month volatility: 6.82%
- Max drawdown: -11.73%
- Winning days: 51.09%
These figures suggest moderate risk with occasional positive trading days.
Market Data and Trading Insights
Exchange Availability and Liquidity
MAC is currently traded exclusively on DigiFinex, paired with USDT. Trading volume is notably low, which may pose challenges for buying or selling large quantities at current prices. Over the past 24 hours, no trades were recorded, reflecting limited market activity.
Low liquidity often leads to higher volatility, so traders should exercise caution and use limit orders to manage execution risks.
Token Distribution and Blockchain Metrics
MAC tokens are held by nine wallets, with a total of 28 recorded transactions. The top 100 richest addresses hold nearly 100% of the total supply, indicating high concentration. The contract address for MAC is 0x15e5d3deff5c3a13adca4f313ff44735881ebd6c.
Such a centralized distribution can impact price stability and market dynamics.
Industry Context and News Impact
Recent regulatory developments and security concerns have influenced the crypto market, including assets like MAC:
- The Federal Housing Finance Agency (FHFA) now recognizes cryptocurrency reserves as eligible assets for mortgage risk assessment, potentially increasing institutional adoption.
- Security threats, such as malware targeting crypto wallets on Windows and Mac systems, highlight the importance of using secure storage solutions.
These factors underscore the need for staying informed about both market trends and security best practices. 👉 Explore secure trading platforms
Frequently Asked Questions
What is the current price of Meta Art Connection (MAC)?
The current price of MAC is $1.19. It has remained stable over the past week, with no significant changes in the last 24 hours.
What was the lowest price ever recorded for MAC?
MAC’s lowest recorded price was $1.18, reached in August 2024. This reflects a modest decline from its all-time high.
What is the all-time high price for MAC?
The token reached its peak value of $1.30 on March 8, 2024. It has not surpassed this level since then.
Which exchanges support MAC trading?
MAC is currently available for trading only on DigiFinex, using the USDT trading pair. Low volume may affect trade execution.
How volatile is MAC compared to other cryptocurrencies?
MAC exhibits moderate volatility, with a 12-month rate of 6.82%. Its price has remained within a relatively narrow range over the past year.
What is the utility of the MAC token?
MAC is designed to support digital art transactions and ownership verification on the blockchain. It integrates with art markets and DeFi platforms to enhance usability.
Conclusion
Meta Art Connection (MAC) represents a niche yet innovative application of blockchain technology in the art world. While its market presence is currently limited, understanding its price dynamics, liquidity conditions, and industry context can help potential investors navigate opportunities and risks. Always conduct thorough research and consider market conditions before engaging in cryptocurrency trading. 👉 Learn more about market analysis tools