Big Eyes Coin Presale Defy The Odds As Bitcoin Drops Below 20,000 And Silvergate Folds Up

The longest liquidation in at least a month implies that traders were unprepared for the crypto price drop on Thursday. Yet in these turbulent times, Big Eyes Coin (BIG), a meme token, is exhibiting a strong market impact. Big Eyes Coin's project has a $51 million launch target, but given current circumstances, they are more than capable of exceeding it.

Bitcoin (BTC) traders lost the most money in the past day, about $112 million, while Silvergate Bank, a crucial banking partner for enterprises that deal in digital assets, is throwing its hat in the ring after experiencing significant losses and declining deposits.

Big Eyes Coin Surges Past The $30m Presale Milestone

When there are issues with the cryptocurrency market, Big Eyes Coin holds up well. The new meme-coin hitting the Coinbase index has progressed through its presale period and is setting records. Big Eyes Coin is in the midst of their 12th presale session, and all eyes are on them as they've raised $31.34 million so far.

In addition to using tried-and-true programming techniques, they have increased traffic to their concept by offering an excellent selection of loot boxes. The "Cute Box" costs $100, and if you're lucky, you might win up to $5,000 in prizes. You could raise the stakes and spend $500 to purchase "The Kitty Vault," which has a potential payout of $24,000 in cash. If you're feeling particularly lucky, you may also spend $1,000 on the "Super Saiyan Box," which has a huge potential return of $100,000. The new "Excali-Paw Master Chest," which costs $9,999, offers the chance to win up to $1,000,000 in cash.

Bitcoin Hits A New Low

Following the bankruptcy of a crypto-focused lender and a sell-off on the American stock market, Bitcoin dropped below $20,000 on Friday, reaching the lowest mark in over two months.

Throughout the 24-hour period, the value of the cryptocurrency market was reduced by more than $70 billion.

According to CoinDesk data, Bitcoin was trading down over 8% at $19,900.28, while the second largest crypto by market cap, Ether, was down more than 8% at $1,400.63.

The market valuation of all cryptocurrencies fell below $1 trillion for the first time since mid-February as a result of significant losses in a number of other top cryptocurrencies, including Cardano (ADA) and Dogecoin (DOGE).

Times Up For Crypto Bank Silvergate

After being hammered by customer withdrawals following the demise of cryptocurrency exchange FTX, US lender Silvergate, which focuses on cryptocurrencies, is to cease operations.

The bank made the decision to "voluntarily liquidate" its assets and cease operations on Wednesday evening.

After depositors demanded their money back, the California-based bank issued a warning last week that it was "less than well capitalized" and that it was assessing its capacity to continue as a going concern.

Silvergate stated a voluntary liquidation of the bank was "the best road ahead" in view of "recent industry and regulatory developments." The bank noted that as part of its wind-down and liquidation process, depositors will be fully repaid.

Investors rushed to withdraw more than $8 billion in deposits, causing Silvergate to suffer losses when it sold assets to meet the cost of the withdrawals, resulting in a $1 billion (£840 million) loss for the fourth quarter of 2022.

Several of the bank's partners, including the cryptocurrency exchange Coinbase and the financial services provider Galaxy Digital, severed ties with Silvergate last week.

Find out more about Big Eyes Coin (BIG):

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL