Bitcoin price falls after Silvergate Liquidation but XRP shows signs of recovery, While Big Eyes Coin surpasses $31m in gigantic presales

The bearish market continues to affect the major cryptos and the notable name is Bitcoin (BTC) as it continues trading in the red. Its price has struggled to recover and has continued leaking as the aftershocks of the Silvergate Bank crisis continue having their effect. Of the leading cryptocurrencies, the sole recovery has been in XRP with its price beginning to bounce back. But whilst the major cryptos struggle for a footing, the new meme coin Big Eyes Coin (BIG) continues running at full pace towards its eventual live launch as it generates further momentum in what is proving to be a historic presale by recent crypto standards.

Silvergate Bank’s liquidation puts Bitcoin in Bearish Mood

Bitcoin, the largest cryptocurrency in the world, watched its price plummet further as it emerged that the crypto bank Silvergate was announcing its liquidation.

The crypto market has been in the trenches, to put it mildly, since the Silvergate Bank saga unfolded. The bank had been struggling since the FTX crisis as it lost 60% of its deposits in one quarter with customers leaving with $8.1bn. Upon delaying publishing its annual 10-K report, it admitted to there being problems and then, after watching several cryptos cut ties with it, imminently announced its liquidation.

This resulted in seeing Bitcoin dip 2% to just north of $21k in what has been a fairly consistent price fall for the biggest crypto. Signs of a bullish turnaround are unlikely as struggles to stem the damage caused by the Silvergate Bank crisis. It underlines a struggle for cryptos that began with the FTX collapse last year. Right now Bitcoin sits with a market capitalisation of just over $419bn.

XRP Stands apart amongst major Cryptos with its recovery

The majority of the top cryptos on the CoinMarketCap have been in the red zone as a bearish market shows little signs of recovery anytime soon. But there is a notable exception and that is XRP.

It has mounted something of a recovery to move into the green in its value across the week. With a market cap of just over $20bn, XRP’s price has increased by nearly 5%, marking it as the only crypto in the top ten which has enjoyed something akin to a price recovery.

The question now remains whether XRP can sustain this price recovery or whether it will slip back into the red. The market has been moving bearishly since before March and it’s not certain that XRP can maintain its value in the green whilst the prices of cryptos around it continue nosediving.

Big Eyes Coin enjoying historic Crypto presale as it eclipses $31m

Big Eyes Coin is a new meme coin that has quickly caught attention as a crypto to buy in 2023. It has just entered Stage 2 of its presales, having successfully closed out Stage 1 as it surpasses $31m and maintains its relentless chase of a $50m target.

To enable this, Big Eyes released a series of loot boxes that reward buyers with exciting gifts. These are sealed mystery boxes containing gifts, similar to the hidden rewards found in video games like FIFA. Big Eyes initially launched three loot boxes together, causing a frenzy amongst investors and its members

The Cute Box is opened at $100 and its prizes range from $100, $120, $300, $800, and $5000 in BIG tokens. The Kitty Vault is unlocked at $500 and its initial prize matches that and offers a maximum reward of up to $25k. The Super Saiyan Box costs $1000 and can deliver a seismic $100k in BIG tokens as a maximum reward.

Its latest loot box is known as the Excali-Paw Master Chest and it is the biggest loot box of them all. It can be purchased at around $10,000 but gives you the chance to earn a whopping $1,000,000 in BIG tokens.

A key fact to these loot boxes is that they have been structured to prevent people from making a loss on them, meaning that there is little risk in purchasing the loot boxes as you either acquire tokens worth exactly what you paid for or more.

As Big Eyes Coin progresses, it continuously draws attention to how it is writing itself into the history books of crypto with its incredible presales performance. It seems to be establishing itself as certainly a crypto to look out for once it goes live.

For more on Big Eyes and its incredible loot boxes, see below:






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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