The Old Guard and the New: As Ethereum and Bitcoin Blow Up, Can Big Eyes Coin Join Them on Top?
There has been a lot of excitement bubbling away in the cryptocurrency community this week. After the long and lean crypto winter, good news has finally arrived. The ‘Old Guard’ of the cryptocurrency markets, Bitcoin (BTC) and Ethereum (ETH) have seen large increases in their prices and market values.
Ethereum (ETH) is up almost 20% in the last week alone. Bitcoin (BTC) rose nearly 8% and broke past the $20,000 price mark.
Following historical trends, when these huge main coins rise in price, so does the rest of the market. As the old saying goes, ‘A rising tide lifts all boats.’ Likewise, many other coins have followed the burgeoning success of their older counterparts.
That’s not all: a new meme coin has made a powerful entry into the crypto world amid the storm of hype and profit. Meet Big Eyes Coin (BIG), a token that is already taking the meme coin niche by storm.
Why has the old guard come back so strongly? What does it mean for newcomers to the crypto scene? Read on to find out.
Old dogs
Many factors have collided to send veteran cryptocurrencies into the stratosphere. First and foremost, new UK Prime Minister Rishi Sunak has laid the groundwork for legislation that would see digital currencies, potentially including cryptocurrencies, as an important part of the country’s future economic strategy.
Sunak said: ‘It is my ambition to make the UK a global hub for crypto asset technology.’ Recognition from a significant political figure leading a major Western nation is a huge step forward for the crypto community.
Another factor that helped the crypto market recover from the decline was news from the Bank of Canada. Analysts expected the bank to raise interest rates significantly. In a surprise move, they announced a very modest increase, of just 50 basis points. This was good news for financiers in general, but had a knock-on effect on the crypto-economy.
The other factor that has had a positive impact on the crypto markets is the Ethereum (ETH) Merge. This technology overhaul has finally launched, improving Ethereum (ETH) transaction speeds, reducing power consumption and minimizing fees and taxes.
It may be the case that these efforts are beginning to bear fruit for the Ethereum (ETH) team, although it cannot be forgotten that as Bitcoin (BTC) increases in value, so does Ethereum (ETH), hence the sharp rise in ETH’s price may simply be due to the trickle-down effect provided by Bitcoin (BTC).
New tricks
A platform that is very different in both value and purpose from the two traditional titans discussed above. Big Eyes Coin (BIG) is making its entrance at the perfect time, coinciding with the price increases that the rest of the market is enjoying.
There is a lot to like when examining the potential of this meme coin. All transactions on the platform will be tax-free and without fees. The initial liquidity pool will be locked for 2 years, which guarantees a certain measure of stability. They have provisions in their token allocation for a marketing budget and charitable donations.
Furthermore, the team behind Big Eyes Coin (BIG) ensured that the token’s contract has been audited by Solidity Finance, and team members have also been verified by CoinSniper.
Whether it is because of this impressive list of features, or because of the general upward trend of the market, Big Eyes Coin (BIG) is making waves among investors: the coin’s presale phase has achieved an impressive $9 million.
Concluding remarks
Although the celebration will be for holders of the two most dominant tokens in the cryptocurrency market, the latest wave of good news indicates that there is still room in the crypto ecosystem for newcomers.
While all crypto investors are benefiting from the upswing in the major coins’ values, it’s also the perfect time to get into the game: with profits and consumer confidence rising, the stage is ripe for new projects like Big Eyes Coin (BIG) to secure themselves a place at the top of cryptocurrencies.
It’s also the perfect time to get in early if you’re looking to invest. When you buy Big Eyes Coin (BIG) tokens as part of the project’s presale, you can claim 5% extra tokens by using the code: BEYES517
Be sure to check out Big Eyes Coin (BIG) by clicking on the following links:
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Disclaimer: Views and opinions expressed by the author should not be considered financial advice. We do not provide advice on financial products.
