By Guest Writer • 02 June 2023 • 9:00
The mood in the mainstream crypto world can be best described as gloomy. From the highs of the March bull run, most assets are fighting bearish pressure. Macroeconomic conditions, central bank policies, and regulatory pressure are hurting major tokens, with Bitcoin (BTC) headed for its first loss in 6 months. BTC’s closest competitor Ethereum (ETH), is putting up a better fight but selling pressure is not showing signs of letting up in the network too.
In the face of a systemwide slump, newer coins, like Pepe and Big Eyes Coin (BIG), are showcasing stellar performance. Is it the beginning of the end of giants of the crypto world?
Bitcoin is the undisputed leader of the crypto world. Its market cap of over $500 billion dwarfs every other digital asset and gives it a market share of over 45%. BTC is so influential in the market that its price movements affect every other asset, and the present slump in BTC has brought an air of gloom to the market. BTC prices showed a mild recovery last week but are still headed for the first loss since last December.
Bitcoin has been decoupled from the Nasdaq and is witnessing a flight of capital as prices are languishing at the sub $28k levels for most of the month. The slump in prices is a result of speculation that the Fed might raise interest rates amidst an already high-interest atmosphere. Against this backdrop, BTC is expected to fall further, and its market cap lead with ETH will be narrower.
Ethereum, Bitcoin’s closest rival and the largest crypto network, has displayed a much better fight in the face of a market dip. But ETH is also weakened by continued selling pressure as the market is in the midst of a capital flight. ETH prices have fallen by 1.5% in the last 30 days as selling pressure is high in the network.
Positive swings in the Ethereum network are on the back of DeFi activity and the launch of new coins using the Ethereum blockchain. The network is better positioned than BTC to ride out the market dip. Better efficiency, low transaction costs, and the strength of its ecosystem would power ETH in tough times.
Big Eyes Coin has got the full attention of the market with its stellar presale. The Big Eyes Coin presale has hauled in an astonishing $46 million and has given the project much recognition in the market. The project will launch on June 15th.
Big Eyes Coin has kept its presale one of the most engaging with exciting competitions, loot box giveaways and charity donations. The project is also one of the most community-centred in the meme coin space, with every stage of development geared to mint wealth for the community.
The Big Eyes Coin team has also announced the launch of the Big Eyes Casino on August 29. The casino will be the first step in building the Big Eyes ecosystem and will have over 4000 titles. The casino will be Big Eyes’ foray into the play to earn (P2E) space and will be a significant wealth generator for the community. The casino will have $BIG as its utility token and will allow users to swap other tokens. As a parting gift, Big Eyes Coin has instituted stage 3 prices for $BIG, making $BIG an irresistible buy!
As the mainstream players of the crypto world heave under pressure, time is ripe for new players to enter the field. As BTC and ETH lag, Big Eyes Coin can potentially rally in a market that is positive to meme coins. Recent market trends indicate that it has treated tokens with strong ecosystems well, so the Big Eyes Coin community has high hopes for $BIG to make a strong launch.
Big Eyes Coin (BIG)
Telegram: Telegram: Contact @BIGEYESOFFICIAL
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
Thank you for taking the time to read this article. Do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don't already have one. Review our
Download our media pack in either English or Spanish.