The cryptocurrency market is the equivalent of a monetary roller coaster: there are lots of ups and downs. Examples of this are Silvergate's recent crash, Big Eyes Coin's (BIG) smashing $31 million presale and Solana's (SOL) decrease this week.
Crypto values are prone to be volatile because the market depends on the support of their investors, users, supply and demand and even media hype. When you put all these elements together they create price fluctuation and numbers can be as fickle as the English weather.
Other factors at play that affect every market are things like inflation. If inflation goes up, like it has at the moment, the price of cryptos can drop. Although this may sound concerning, once the inflation rate decreases, the value of cryptos could go up which is a great thing for anyone who owns crypto.
Currently, there are over 420 million crypto global users, that's over 5% of the world's population and more than the US and the Caribbean's populations combined. There's a reason why so many people are investing in decentralised finance (DeFi).
In this age of technology and globalisation, the world is more connected than ever. Cryptocurrencies have found their place and they are even revolutionising the financial sphere.
That being said, when there is an unfortunate collapse of a crypto, it has its fair share of consequences. The Silvergate crypto bank has collapsed and they are bringing their operations to a halt. This is a stark contrast to their previous golden years. At the height of its success, Silvergate had $14 billion in customer deposits and they were the largest crypto bank. Unfortunately, its asset values have fallen amid its liquidation announcement following the collapse of FTX, the crypto exchange.
Solana is one of the larger cryptos that have fallen due to the current crypto market news. However, when prices dip it could be an opportunity for investors. Potentially, investors could buy into crypto while its market is low and then wait for its value to increase. With the increase in its value to their assets, an investor could sell or exchange these for a profit. This fairly low-risk method of making money is similar to staking.
New cryptos are surfacing all the time and one surprising new contender is Big Eyes Coin. Their presale has raised a whopping $31 million! With huge figures like this, I think it's safe to say that the crypto market could have fantastic growth potential.
Presales are an especially good time to invest in a cryptocurrency because it gives investors the chance to buy an altcoin that could be worth way more in the future.
Big Eyes Coin is offering its users the chance to get a complimentary 5,000% ROI with Loot Box purchases! Make sure you use the Vault Pin 819. There are also lots of BIG Token prizes up for grabs ranging from $500 to $1 million BIG!
Cryptos have a huge number of benefits: it's an instant peer-to-peer currency, there are no hidden fees, it breaks down barriers and you can pay anyone wherever you are. This could potentially solve a lot of issues including international hiring barriers. Although the crypto market is always changing, there is plenty of scope for the market to turn around this year while more users invest in this exciting venture.
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.