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The year 2022 was a rather testing period for the cryptocurrency industry. The scandal surrounding the currency exchange FTX caused governments, consumers, and other stakeholders to question the credibility, transparency, and security of users in the industry. While the start of 2023 appeared to have indicated a remarkable turnaround, cryptocurrency still seems to be fighting old demons.
The global cryptocurrency market capitalization seemed to have recovered from $797 million when the year started to $1.12 trillion by February. Fresh scrutiny on the crypto industry however, has once again caused a decline in the global crypto market cap dropping to $1.07 trillion. The volatility, while it may seem gloomy to the naked eye, experts suggest that it is the calm before the storm, in the sense that the industry is poised to explode to new heights before the year is out.
While Big Eyes Coin (BIG), being the new entry to the industry has shown a positive outlook to become the next big meme coin in the crypto market, how have Bitcoin (BTC) and Ethereum (ETH) fared, and what does 2023 hold for these three currencies.
Bitcoin (BTC), the world's largest cryptocurrency has dropped 4.89% in the past week, down to $23,439.35. Bitcoin did post a marginal rise of 0.04% in the last 24 hours after a wipe-out of nearly $80m in leveraged crypto long positions caused a rippled effect across the board.
Bitcoin, which posted a 30-day high of $25,134.12, dipped to $22,910.99 over the weekend as investors remained cautious over persistent inflation concerns in the US, which have increased the possibility of the Federal Reserve implementing more aggressive interest rate hikes than previously anticipated.
At the time of writing, Bitcoin held a market capitalization of $452 billion with a 24-hour trading volume of $22 billion.
Ethereum (ETH), the second most powerful cryptocurrency in the industry, has been following a similar pattern to that of Bitcoin in terms of price movement. Having posted a 30-day high of $1,732.80, Ethereum's price has shown a weekly decline of 2.53% on the weekly charts and currently trades at $1,634.67, a 0.73% drop from the day before.
Ethereum is currently trading just above the support level at $1,600 but a bearish movement has been established on the daily chart, so be warned. Big Eyes Coin: Packed and Ready to Take on the Next Bull Run
Big Eyes Coin (BIG) is a new community-owned meme token created on the Ethereum Network to generate wealth and shift that wealth into the Decentralized Finance (DeFi) ecosystem while ensuring 5% of its total token supply is donated to ocean-saving charities.
Big Eyes Coin believes in keeping its community on its toes with new and exciting offers. And in its latest initiative, Big Eyes Coin has launched the Big Eyes Coin Loot Boxes, which are mystery boxes featured in a video game and can be found during gameplay, earned as a reward, or paid for with real money.
The three loot boxes, Cute Box, Kitty Vault, and Super Saiyan Box will be available only during the presale stage of Big Eyes Coin and the results are always randomized. The Cute Box costs $100 to open with the largest prize of $5000 worth of BIG tokens. The Kitty Vault costs $500 and contains the grand prize of $25,000 worth of BIG tokens. The Super Saiyan Box which costs $1000 to open carries the ultimate prize of $100,000 worth of BIG tokens. The Loot Boxes only guarantee a win because, at the minimum, users will always get their money back and there are a very limited number of loot box drops before they run out.
The meme token is currently in its Initial Coin Offer (ICO) and in stage 12, Big Eyes Coin has raised $30.62 million in presale tokens and will go live on the market when it reaches its target of $50 million presale tokens.
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.
