By EWN • 28 September 2022 • 11:54
With cryptocurrency on the rise after the 2020 surge, what can we expect from the market?
After recent news on Terra Luna Classic’s (LUNA) astronomical crash due to the founder Do Kwon possibly breaching capital markets law. This occurrence caused the investors to lose A total of $40 billion. It may seem daunting to invest in cryptocurrency after recent events. However, cryptocurrencies like Big Eyes Coin (BIG) and Bitcoin (BTC) may be able to ease this worry.
Terran Luna Classic (LUNA) is a cryptocurrency token launched in 2019. It was launched on its own blockchain: the Terra blockchain. The Terra Luna Classic coin was previously sold as high as $80; however, it can now be seen to be sold for $0.0002823, as stated by CoinMarketCap as of September 2022. Though then known as a stablecoin, the Terra Luna Classic coin crashed so drastically that it took the entire crypto market by shock.
Their demise in May 2022 caused the market to become unstable. The cost of bitcoin dropped to $26,000, a 60% decline from its peak in November 2021, while the value of Ethereum (ETH), the second-largest cryptocurrency, also dropped considerably by 30%. One of the biggest cryptocurrency exchanges, Coinbase, announced a first-quarter loss of $430 million. Though the market has somewhat stabilised since May this year, many investors are currently still wary of investing in crypto.
Bitcoin (BTC) is the first significant cryptocurrency. It is the world’s most popular cryptocurrency, with a market cap of $387,562,825,064 (as of September 2022), according to CoinMarketCap. Bitcoin has been around for the longest of all cryptocurrencies but does it have a way of ensuring investors its money is safe? Unlike that of the Terra Luna Classic coin. Bitcoin’s blockchain is secured by the same level of security employed by banks, the military, and virtual private networks (VPNs). Bitcoin’s blockchain uses the 256-bit SHA hash functions to encrypt its systems. The SHA hash functions provide each transaction with a distinct fingerprint that cannot be reversed, unlike encryption, which can be decoded. This makes Bitcoin’s blockchain much more secure in comparison to Terra’s.
However, on top of this, investors can also opt for cryptocurrency insurance. The insurance protects against crypto scammers, and we would advise you to do your own research on this first and decide what’s best for your and your crypto wallet.
Big Eyes Coin (BIG) is an up-and-coming meme coin that is almost finished with its pre-sale phase. The meme coin based itself on the concept of ‘cuteness’ and combat the idea that the concept of ‘successful’ can’t go alongside the concept of ‘cuteness’. Big Eyes Coin (BIG) is a community token that incentivises shifting wealth into the defi ecosystem to protect an essential part of the world’s ecosystem. Big Eyes Coin wants to ensure that the community has the most control over the coin, so it has made 80% of the tokens available at the pre-sale. Big Eyes Coin (BIG) wants to ensure the safety of its potential investors. It has ensured their contract is entirely secure, having auditing by Solidity Finance, so it has been shown to be 100% secure. Big Eyes Coin takes this one step further by having their team fully verified by CoinSniper, ensuring anti-rug and complete project security.
Though Terra Luna Classic experienced such a devastating blow in May, it doesn’t mean all cryptocurrencies will experience similar crashes or evade the law like that of Terra’s founders. Cryptocurrencies like Big Eyes Coin (BIG) and Bitcoin (BTC) are safe and secure to use. If used correctly, they can grant you a hefty profit.
If you want to learn more about Big Eyes Coin’s (BIG) pre-sale, follow the links below!
Big Eyes Coin (BIG)
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