Big Eyes Coin Continues To Thrive While Bitcoin And Solana Rapidly Crash Yet Again

Due to the multiple collapses that happened during 2022, the crypto market has been in turmoil. As a result of their unpredictable and shifting character, crypto purchasers have been highly hesitant to purchase certain cryptocurrencies. The biggest crisis occurred in May 2022, when experienced blockchain networks like Bitcoin (BTC), Ethereum (ETH), Terra (LUNA), and Solana (SOL) saw their market capitalization and worth fall.

Another crypto meltdown has hit the market, causing Bitcoin’s price to fall to its lowest level in two weeks. Solana has unfortunately suffered similarly, with the price dropping by 24% over the past twenty-four hours. Meanwhile, Big Eyes Coin (BIG), a crypto newcomer, is still thriving in the sixth round of its presale, having generated $9.71 million in less than a year of existence.

Big Eyes Coin Distinctively Markets Itself

Big Eyes Coin (BIG) has managed to leap to the top of internet discussion despite joining the crypto market during the height of the first 2022 crisis. Having been endorsed by multiple crypto influencers such as Ieda Wobeto and Gino Assereto, Big Eyes Coin’s Twitter presence has grown at an exponential rate, having 56,000 followers.

The feline mascot is developed in a manga/anime style, targeting a market valued at $26.89 billion. However, their well-planned marketing campaign does not end there. Big Eyes Coin takes a step further by including a 5% charity wallet, with a portion of its total supply allocated to ocean sanctuaries.

Additionally, BIG has high ambitions for its one-of-a-kind NFT collection, through which content creators may promote their artistic works. Their NFT marketplace is the ‘NFT Sushi Club,’ and it is a club for NFT holders who enjoy owning lovely things, eating fish, and having fun. The meme coin has quickly managed to raise $9.7 million and shows no sign of slowing down anytime soon.

Bitcoin Price Plunges

Satoshi Nakamoto, a pseudonymous individual or team that explained the technology in a white paper in 2008, invented Bitcoin. It’s a basic concept: Bitcoin is digital money that enables safe peer-to-peer Internet transactions. Bitcoin’s creation was a cryptographic breakthrough, leading to the creation of the crypto market. The blockchain is a piece of software that operates like a ledger, tracking every transaction ever done using bitcoin. Bitcoin is distributed and validated using a computer network. It is not under the jurisdiction of any business, government, or third party.

On 8 November 2022, the price of Bitcoin dropped by 14%, setting a new annual low of $17,166 – and most altcoins are following suit. This crash has happened because Bitcoin’s price is reacting to market stress caused by FTX, reaching an annual low following a period when many believed the bear market’s bottom had been discovered. Many people are hesitant to buy Bitcoin, although it has stayed number one since its debut.

Solana Down Double Digits

Solana (SOL) is a crypto-computing platform that aspires to fast transaction speeds while maintaining decentralisation. Solana, like Ethereum, is a cryptocurrency as well as a versatile platform for operating decentralised software (dapps) ranging from Degenerate Apes to the Serum decentralised exchange (or DEX).

Its main novelty is speed, which is achieved by a collection of innovative technologies, including a consensus technique known as proof of history (PoH). Solana can perform around 50,000 transactions per second, but Ethereum can only process 15 or fewer. SOL has dropped almost 24% in the last 24 hours. This is twice as difficult as the rest of the market, but not as awful as FTT, which has lost 75% of its value.

According to CoinGecko, the SOL price has fallen from an intraday high of well over $30 to its current price of $20.78. Furthermore, the troubled cryptocurrency is already down 92% from its all-time high of $260 in November 2021. It has also fallen out of the top 10 cryptocurrency rankings. Nevertheless, Solana remains to be one of the most prominent cryptocurrencies on the market.

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