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Investors are closely observing the implications of the Shanghai Upgrade on Ethereum as the community eagerly awaits its arrival. As one of the largest alternative coins, Ethereum's network changes can affect the entire altcoin market. In view of this, investors may want to include Binance and the newly launched Big Eyes Coin, which is in its final presale phase, in their investment portfolio. Read on to find out more.
The Ethereum community is eagerly anticipating the upcoming Shanghai Upgrade, which is expected to have a significant impact on the digital asset. One reason for this is the upgrade's completion of the transition from the Proof of Work to the Proof of Stake mechanism, which is expected to be more energy-efficient by selecting validators randomly for verifying transactions instead of competing for the same.
In addition, the upgrade will allow users to withdraw their staked Ether since the Beacon Chain's launch in December 2020 after the fork is implemented. However, some investors are worried that this could lead to selling pressure on the ETH market as those unable to sell their staked Ether may offload their holdings.
The upgrade will also include the implementation of five Ethereum Improvement Proposals (EIPs) aimed at improving transaction efficiency and reducing gas fees for decentralized apps on the Ethereum network. Various consensus-layer changes are also part of an upgrade called Capella, leading Ethereum developers to refer to the upgrade event as "Shapella." As a result, many investors are keeping a close eye on how this upgrade will impact Ethereum's performance.
The trading volume of Binance (BNB), which is the cryptocurrency with the highest trading volume, has shown a positive trend. Based on the analysis of the chart conducted for a 24-hour period, there have been more bullish runs than bearish ones, and the support levels have gone beyond the $318 limit. Should this trend continue and strengthen, the support levels could achieve a new all-time high.
Big Eyes Coin (BIG), a forthcoming meme coin, has garnered market attention after successfully raising an impressive $33.5 million during its presale. As the launch approaches, the coin has declared the end of its presale on June 3rd, but users can still take advantage of its user-centric scheme before the deadline.
BIG provides several benefits, such as transactions exempt from buying and selling tax, a 2-year liquidity lock on 80% of its supply that is released on launch day, and a donation of 5% of its earnings to a charity wallet that supports organizations focused on cleaning and preserving oceans.
The most appealing feature of BIG's scheme is Lootboxes, which users can purchase to obtain rewards worth at least the value of the Lootbox itself, ensuring almost guaranteed profits. Recently, BIG also introduced a card collection that can be minted as NFTs.
As a final opportunity for users to win before the launch, Big Eyes is offering its community a 300% bonus on the purchase of BIG or Lootboxes by utilizing the code END300. This is a show of gratitude to the community and a chance not to be missed.
The aim of the Shanghai Upgrade is to improve the effectiveness and energy-saving capacity of Ethereum Network transactions. Nevertheless, investors are concerned about the selling pressure that may arise in the Ethereum market. Binance has witnessed a bullish trend in the last 24 hours, but it needs to sustain this momentum to make significant advances. In the meantime, Big Eyes, an upcoming meme coin, is gearing up for its launch, and based on its impressive record, it is projected to make substantial strides in the market. With its inventive strategy and dedication to giving back to the community, this is a coin that should not be overlooked.
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.
