2022 was a year of bloodied crypto markets that had exchanges and investors alike mopping up investment losses. Many large crypto-currencies lost their fair share in value. The global crypto-industry had to contend with tighter wallets from investors on account of inflation and federal rate hikes.
Apart from macro trends, a singular event but just as bad for crypto-markets was the downfall of the second largest crypto-exchange, FTX. While this caught the attention of news portals and social media, this was not the first crypto firm to go in 2022.
Before FTX, many others called it quits due to poor collateral value or questionable investment practices. Some of these firms were Voyager Capital, Celsius, 3AC etc. Their losses were in the hundreds of millions.
According to CNBC sources, these coins fell hard in their value:
However, not all hope is lost. 2023 holds promise with coins like Bitcoin and Ethererum showing an upward tick in their prices.
The current price of Ethererum is $1636, an increase of 37% from $1195 at the start of the year (Jan 1st, 2023). Bitcoin is up 39% and fixed at a current price of $23,059.62. Both cryptos were tied through correlation in 2022 and seem to be now as well, which means if Bitcoin goes up, Ethereum goes up as well.
This positive trend may have extended to other cryptocurrencies as well. Solana has increased in price but most of the established coins in the market remain well below their previous peaks.
New meme coin offers a potential investment to crypto-enthusiasts
Shiba Inu was recently delisted in trading pairs from Binance. Perhaps Big Eyes Coin, a new and popular meme coin, can interest old and new crypto-investors alike.
Big Eyes is a new community meme coin that is devoted to increasing the wealth of its members. It is not entirely profit based. Big Eyes has a humanitarian mission as well: saving the oceans and all its swimming inhabitants. According to its whitepaper, a charity wallet holding 5% of tokens will be held in place for donations to humanitarian organizations. Another 5% will be kept aside for marketing, an overhead expense necessary to keep Big Eyes company operations running.
NFTs will be a huge part of this coin’s offerings and gifted to anyone who joins as a community member. The cat friendly coin will have a supply of 200 billion tokens and 80% of the total supply will be available at launch.
The presale of the token has raised $17.44 million so far from investors, large enough to hint at possible upside to anyone who buys the token.
For All Things Big Eyes Coin (BIG)
Disclaimer: This article is not investment advice. It is an attempt to keep crypto-enthusiasts aware of recent developments. Anyone who chooses to invest in any crypto mentioned in any article does so at his own risk.