By EWN • 24 January 2023 • 10:45
The crypto market has seen a resurgence in 2023, with many coins experiencing an increase in value after a difficult 2022. The failure of Luna and the implosion of FTX had many concerned that the crypto market would enter a prolonged downturn. However, recent developments have given investors reason for optimism. A significant contributor to the market rebound has been the revelation by lawyers for the failed FTX exchange that they have recovered over $5 billion in crypto and cash assets that can be used to compensate creditors.
The recent recovery of over $5 billion in crypto and cash assets by the lawyers of the failed crypto exchange FTX has brought back confidence to the market and helped to boost prices for most coins. This, combined with a decrease in inflation as reported by the inflation data released on January 12, has also played a role in the market rebound. The decrease in inflation has led to optimism that the Federal Reserve will ease up on aggressive rate hikes, which would attract more investors to riskier assets like digital currencies. One coin that has been making a significant impact in the market is .
Big Eyes Coin (BIG) has been making waves in the cryptocurrency market, with its community-led approach and features such as monthly charity wallets supporting ocean conservation charities. The coin is also building a unique and innovative NFT space that connects individuals with shared interests, cute content, and everything crypto-related. With over $17 million raised during the presale stages, BIG has achieved unprecedented success in the crypto space. Unlike some other coins, BIG has not been affected by the collapse of Luna and the FTX implosion and has been able to capitalise on the market rebound, with its price rising steadily over the past few months. As investors increasingly look for stable and community-backed coins, BIG is becoming an attractive option. Another coin that has been gaining popularity in the market is Shiba Inu (SHIB).
According to on-chain data by Nansen, SHIB was the most popular non-stable coin digital asset for newly funded crypto wallets over the past seven days. Over that period, Nansen clocked over $56 million in SHIB tokens flowing into some 12,000 new wallets. The ERC-20 token, Shiba Inu, was the most popular non-stable coin digital asset for newly funded crypto wallets in the past seven days. According to on-chain data, SHIB tokens were flowing into around 12,000 new wallets, totalling over $56 million. Enthusiasts of the token are eagerly awaiting the launch of Shibarium, an Ethereum layer 2 ecosystem for launching decentralised apps using SHIB as the native token. Additionally, Dogecoin (DOGE) is also showing signs of recovery in the market.
After bottoming in late 2022, DOGE began a short-term uptrend at the beginning of the year and hit a resistance level around $0.0918 on January 14th. However, after retracing some of its gains, it found support around the $0.08 level and has since picked up additional momentum amid the overall increase in risk appetite. It’s clear that there are still many opportunities for growth and success in the crypto space despite the turbulent year. Coins like BIG, Ethereum, Bitcoin, Binance, Shiba Inu and Dogecoin will play a major role in shaping the future of the industry. With a focus on sustainability, charity, and innovation, BIG is an attractive option for investors looking for a stable and community-backed coin. SHIB and DOGE, on the other hand, appeal to the more adventurous investors looking for a high-risk, high-reward opportunity. While the market is still recovering from the recent setbacks, it’s important to keep an eye on these coins and stay informed about their developments in order to make informed investment decisions.
It’s also worth noting that the crypto market is still highly speculative and volatile, and investors should be aware of the risks before investing. It’s important to do your own research, diversify your portfolio, and only invest what you can afford to lose. Nevertheless, with the market rebound and the potential for further growth, now may be a good time to consider investing in these coins.
The crypto market is showing signs of recovery, and coins like BIG, SHIB, and DOGE are poised to make a big impact in the industry. The market is still highly speculative and volatile, so investors should be aware of the risks before investing. However, with the potential for growth, it’s worth considering these coins as part of your portfolio. Stay informed and make informed investment decisions to make the most out of the crypto market rebound.
You can get a 200% bonus with your Big Eyes Coin purchase, just use the code LAUNCHBIGEYES200
WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost
AVISO IMPORTANTE: La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido
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