Looking at the cryptocurrency rankings, Tether (USDT) and USD Coin (USDC) sit right next to Ethereum (ETH) and Bitcoin (BTC), alongside Binance USD (BUSD) and Dai (DAI). I understand. Not too late.
Like it or not, stablecoins have taken over the cryptocurrency leaderboards by market capitalization. There is definitely demand for stablecoins, but are the successes of Tether and USDcoin paying a price?
Cryptocurrencies have a bad reputation for being volatile, but this extreme volatility has helped some to make a profit. Are stablecoins a shift from the essence of cryptocurrency or a step in the right direction?
Pre-sale meme currency Big Eyes Coin (BIG) may be the answer to that question.
Rise of Tether
Tether is currently the most successful stablecoin on the market. Following the US dollar price, this token was launched in his 2014. Its success can be attributed to its use as an inflation hedge, where the value of Tether can increase at a higher value than fiat currency.
With a dollar reserve equivalent to USDT, cryptocurrency holders can rest easy using Tether as there is cash back.
Subsequent Rise of USD Coin
The second most successful stablecoin, USD Coin, has an exact 1:1 match with the US dollar. While there are many stablecoins on the market, USD Coin shines during volatile times in the crypto market thanks to its transparency and simplicity.
Big Eyes Coin may not be a stablecoin, but I understand why it’s so popular
While it would be easy to accuse stablecoins such as Tether and USD of dominating the crypto space, it could also be a lesson for new cryptocurrencies as markets demand more reliable tokens. .
For example, consider the success of Big Eyes Coin. Although a pre-sale token, Big Eyes Coin raised his $12 million and earned him nearly 40,000 Twitter followers.
Big Eyes Coin is not a stablecoin, but its positioning as a token that has not yet been released to the market means that the price of BIG will remain fixed and not subject to market conditions (the like).
Additionally, Big Eyes Coin also represents a shift in how the new memetic cryptocurrency operates. Big Eyes Coins will provide an NFT marketplace, commodity store, competition and philanthropic incentives to keep BIG in demand with a better developed ecosystem to promote token prosperity. 5% of all tokens will be put into marketing wallets to ensure token survival.
Another aspect that makes Big Eyes Coin attractive to stablecoin holders is the initial liquidity pool that will be locked for two years. This ensures that funds cannot move out of the pool.
Similarly, Big Eyes Coin contracts have been audited by Solidity Finance and proven to be 100% secure.
While many may see the popularity of stablecoins as a threat to the existence of traditional cryptocurrencies, it is also a gentle reminder that the crypto market wants better consistency and stability.
For this reason, Big Eyes Coin has incorporated this ‘nudge’ and has been successful thanks to its observations.
Use code for BIG Bonus: BIGsave734
For more information about Big Eyes Coin, please see below.