In November 2021, the cryptocurrency market was at an all-time high. The market capitalization had just crossed the three trillion dollar mark. Bitcoin (BTC), the original token and the market leader, was valued at roughly sixty-nine thousand dollars. The financial world took a hit when the Consumer Price Index (CPI) declared that inflation had reached 8.6%. The announcement sent the markets into a tailspin. Stock markets felt the reverberations of inflation as Nasdaq, and Dow Jones lost hundreds of points.
The cryptocurrency market felt the impact. More than two trillion dollars of the market cap was obliterated overnight. The price of Bitcoin, the standard bearer of cryptocurrencies, fell by more than seventy percent! Naturally, any market would struggle if it lost trillions of dollars. How are cryptocurrencies faring in the wake of the crypto crash? We will attempt to answer that question by studying three cryptocurrencies. The first two are distinguished tokens, BNB and XRP. The third is a new one called Big Eyes Coin (BIG).
BNB – A Platform For Everything
BNB (BNB) is a major player in the cryptocurrency space. BNB ranks at number five with a staggering market cap of $56.5 billion and a token price of $282.4. Both figures are on the high end of the spectrum; however, they have fallen 4.7% compared to yesterday’s numbers. In the same twenty-four hours, the volume of BNB tokens traded is 1.25 billion, a rise of 40%. Since its release in 2017, BNB has turned into the biggest cryptocurrency exchange globally, according to daily trading volume.
BNB was created to catapult cryptocurrency exchanges to the front line of financial activity worldwide. A key reason for BNB’s extraordinary success is it provides users with a comprehensive ecosystem of functionalities. The BNB network consists of Binance Smart Chain (BSC), Binance Chain, Binance Academy, Trust Wallet, and more, all of which utilize blockchain technology.
BNB was founded by Changpeng Zhao, its current chief executive officer. Zhao’s previous employers include Bloomberg and Blockchain, where he served with distinction in eminent roles. Since he was head of development at Blockchain, Zhao understood the intricacies of the technology and launched Binance in 2017. Zhao’s partner is He Yi, the co-founder and chief marketing offer of BNB. Yi boasts considerable experience in cryptocurrency.
BNB (BNB) stands out because of the options it offers token holders. BNB’s ecosystem includes the number one exchange platform in the market with other alternatives. Furthermore, an advantage of BNB in a competitive market is its constant innovations.
The proof is in the pudding; although BNB started in 2017, the company has witnessed exponential growth and become one of the mainstays of the cryptocurrency space. BNB’s operations have expanded to different spaces, in part because they are constantly focused on development.
Ripple (XRP) – Cheap and Fast
Like BNB, Ripple (XRP) is a high-profile cryptocurrency. Ranking at number seven, XRP boasts a market cap of $33.4 billion and a token price of $0.33; both figures have fallen 0.5% in the last twenty-four hours. XRP’s daily trading volume is 583.6 million, a sharp decline of 55%. XRP launched in 2021 and has quickly climbed up the rankings. The XRP Ledger (XRPL) is an open-source, permissionless, decentralized technology. There are several advantages of using XRPL, such as:
Cost-effective: the cost of a routine transaction is 0.0002 dollars
High speed: the regular settling time of a transaction is between 3 to 5 seconds
Excellent scalability: the platform conducts a maximum of 1,500 transactions every second
Environmentally friendly: XRP is energy efficient and carbon neutral
In addition to the attributes mentioned above, XRP boasts the first decentralized exchange (DEX). The platform was the brainchild of David Schwartz, Jed McCaleb, and Arthur Britto. The trio envisioned XRP as an improved, faster and greener substitute for Bitcoin. Later the same year, the triumvirate partnered with Chris Larsen and founded the company, Ripple. Since its inception, XRPL has settled more than seventy million ledgers.
Furthermore, XRPL employs a distinctive Federated Consensus protocol for verifying transactions, which separates it from established cryptocurrencies like Bitcoin and Ethereum. Chosen independent servers called validators work together and determine the order and outcome of transactions.
Every server in the network oversees transactions based on the same principles. If a transaction adheres to the protocol, it is corroborated promptly. All transactions are transparent and open for public scrutiny. As it stands, there are more than one hundred and fifty validators on the XRP Ledger. Anyone can use a validator. Exchanges, organizations, universities, and individuals worldwide use validators on XRPL.
Big Eyes Coin (BIG) – The Next Biggest Meme Coin
Now that we’ve uncovered two well-established cryptocurrencies, we’ll turn our attention to a new token called Big Eyes Coin (BIG). Big Eyes Coin is a community token meant to protect the world’s oceans and move wealth into the decentralized finance ecosystem.
In other words, the more money token holders transfer into the DeFi ecosystem, the more money will be attributed to saving the oceans. BIG aims to enable the blockchain ecosystem to expand substantially through Non-Fungible Tokens. The platform will utilize NFTs to give token holders access to member-only events and content.
The platform is named after a lovable cat. Big Eyes, our feline friend, has noble ambitions of saving the world’s oceans. BIG realized his ambition after a long and arduous journey. Big Eyes was born in the capital and was adopted by a rocket scientist who taught him about space engineering.
The bond between BIG and his owner was short-lived because the latter passed away, leaving Big Eyes by himself. To cope with the loss, BIG boarded a yacht, circumnavigating the oceans and practicing yoga. Unfortunately, Big Eyes was lost at sea, facing certain death until a humpback whale rescued him.
The wonderful whale took him to Japan, where BIG learned Zazen, how to make sushi, and immersed himself in the culture. His meditation made him realize that he should work toward saving the oceans. Since BIG is a community-oriented token, 90% of the tokens will be accessible when the platform is launched.
No taxes or fees will be attached to the tokens, giving users a considerable advantage. 5% of tokens will be attributed to a dedicated charity wallet and used exclusively for the welfare of the oceans.
In addition, a user-friendly tax system is geared toward early adopters of the token. The platform will enable users to make alterations, so auto burn functions, liquidity protocols, and marketing wallets can be added. NFTs will be a vital aspect of BIG. Exclusive NFT events will be arranged, and the profits from such events will be put in a burn or not to burn vote.
Although the numbers of BNB and XRP are disparate, the two tokens provide inspirational examples for emerging tokens like Big Eyes (BIG). The makers of BIG will hope that their token can mimic the remarkable success BNB and XRP have enjoyed.
The “cuteomics” or tokenomics of BIG will be as follows:
● 200,000,000,000 tokens in total
● 70% tokens will be sold at presale
● 20% tokens will be distributed on exchanges
● 5% will be apportioned to a marketing wallet
● 5% will be allocated to charity
Moreover, if you are interested in purchasing Big Eyes tokens, the process is straightforward. Users must install MetaMask on their browsers (desktop or mobile devices). When they configure the wallet, they can acquire BIG tokens by buying ETH by card, buying BIG with ETH, or obtaining BIG with USDT. Once the presale concludes, users can get their Big Eyes tokens.
Enter Presale: https://bigeyes.space/#signup