By EWN •
Updated: 07 Dec 2022 • 21:34
The cryptocurrency market has been agog with news on the collapse of the famous exchange platform, FTX, which caused a significant dip in the several coins it supported. Among such coins is Solana (SOL), where the exchange platform had about 10% of the total token supply. In a bearish market, this doesn’t bode well for the project and other NFT platforms, like Axie Infinity (AXS). The new memecoin Big Eyes (BIG) will be looking to take advantage of the developments while it approaches its official launch.
Solana (SOL) has been a regular among crypto traders since its launch in 2018. It offers multiple blockchain services, from gaming to NFT trade and top-quality asset transfer procedures.
Solana (SOL) introduced the now famous proof of stake protocol into the cryptocurrency market, which is way more effective than its proof of work counterpart. After several upgrades in recent years, the platform now sports a hybrid protocol that includes an additional proof of history protocol to aid transaction storage on the blockchain.
Solana’s protocol reduces the energy required by the platform for processing users’ transactions and logging them on the network. This feature positively affects gas fee subsidy, as the Solana (SOL) network charges low fees on every transaction.
The network is also actively involved in the NFT sector, as its active NFT marketplace allows users to create, exchange, and sell minted tokens to other users. Solana (SOL) supports smart contracts that users can apply to bind their NFT collections, securing them against cyber theft.
Solana is powered by SOL, which acts as the primary payment option for the site. Although the coin has experienced a significant drop in valuation, most experts believe it will come back next year.
SOL is available for $14.60 on CoinGecko.
Axie Infinity (AXS) represents one of the largest blockchain gaming systems in the crypto space. At one point, it was the most visited application on the Ethereum blockchain, with about a million daily users.
Axie Infinity (AXS) features one play-to-earn game that models after Pokémon. Here, players acquire NFTs for use as avatars within the game as they compete against one in single-player and multiplayer modes. Each player competes against others for their Axies, their NFT avatars. Completing rewards within the game earns some money for individual players.
Axie Infinity (AXS) uses two tokens to simplify the platform’s operations. The SLP is used within the game to enter game modes and purchase in-game boosts for the NFT avatars. The players collect this token when they earn rewards in the game and convert it into AXS, which is the tradable token for the platform.
AXS, or Axie Infinity Shards, is the official token listed on decentralised exchanges and crypto charts. It is a tradable token used chiefly for purchasing NFTs on the Axie Infinity network. It is also used to stake the platform and vote on protocol changes when the need arises.
AXS sells for $6.80, according to CoinGecko.
Big Eyes (BIG) is in its last pre-launch stages and launching soon. The new memecoin plans to make a name for itself in the cryptocurrency and NFT sectors. It will rely on its NFT club and community to edge past current top tokens Solana and Axie Infinity.
Big Eyes’ (BIG) long-awaited NFT club, Sushi Crew, will be available for public use soon enough, as the developers are working towards launching it before the token. The club will allow users to generate and manage their NFT assets using their profiles. Minted NFTs can be exchanged or sold to other users across networks.
Sushi Crew also holds some NFTs that the developers will sell to early members at discounted rates. A significant bonus from the NFT club is that all its transactions are free; users can initiate as many transactions as they want without incurring any charges on the network.
Big Eyes (BIG) is also enthusiastic about charity. It will be contributing to conserving ocean fish species by donating to charities involved in marine life conservation periodically.
Join the Big Eyes (BIG) project today by getting your tokens booked ahead. Click here to access the presale page and get updates from the Big Eyes (BIG) developers.
Use code SUSHI130 for bonus tokens.
Big Eyes Coin (BIG)
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