SPONSORED POST*
Big Eyes Coin (BIG) has been the biggest news from the cryptocurrency market these past few weeks. Firstly, it raised $1 million in the first presale week and has continued to breeze through all presale stages to the fifth. In that time, it has raised about $7.2 million and is looking to reach its goal of $8.45 million to move to the next phase. This would be regrettable for users who missed out due to a lack of information or unrealized possibilities. Big Eyes Coin is on track to be the biggest memecoin launch this year, considering the amount of traction it can gather in a bear market.
Also, users have questioned why Ethereum (ETH) supply seems to have increased after the Merge. Some believed that Ethereum’s transition from Proof-of-Work to Proof-of-Stake, or the Merge, would cause its monetary system to experience deflation right away. A deflationary system is defined by a long-term, progressive decline in the money supply instead of “inflationary” money. Despite a slight decline in supply following the Merge, the supply of ETH has already surpassed all previous records.
The easy answer for that is the networks need higher transaction fees to enable the deflationary mechanism, and transitioning to Proof-of-Stake reduces the emission from the network to miners.
Summary
Ethereum (ETH)
Ethereum (ETH) is a top blockchain network at the frontier of cutting-edge blockchain utilities and hosts thousands of decentralized applications, thereby being the most valuable network in the market. Ethereum faces some scalability risks that are further exacerbated in a bull run when there’s higher activity on the network. The network seeks to resolve this using a five-stage upgrade.
The first upgrade was called the Merge and involved transitioning from Proof-of-Work to Proof-of-Stake, making the network more environmentally friendly, and setting up for the other four upcoming upgrades. It is important to note that in August 2021, Ethereum adopted EIP-1559, which introduced a burning mechanism for the network. Users of Ethereum pay a basic cost for each transaction, which is expressed in gwei, or one billionth of an ETH. This token is instantly taken out of circulation, making ETH a deflationary token.
The Ethereum Foundation claims that the gas fee must be more than 16 gwei for the burn mechanism to invalidate the ETH given to validators. In other words, anytime an Ethereum transaction costs 15 gwei or less, its total supply will rise, and if it costs 16 gwei or more, it will fall. And considering that the gas fee has been very low recently, that explains it.
Big Eyes Coin (BIG)
Big Eyes Coin on presale has been incredible thus far and has solidified itself as one of the most anticipated launches this year. Many early buyers are in high hopes for massive profits and can hope for long-term success and a possible blow-up like Shiba Inu (SHIB). All of these are possible for Big Eyes Coin, considering its level of hype.
Big Eyes Coin is a cat-inspired memecoin and hopes to revolutionize the meta, turning cat memes into the most preferred mascot for emerging memecoins. This is a statement move by Big Eyes while it hopes to establish its position in the memecoin landscape. The thousands of memecoin projects that have walked in the steps of top dog memecoins haven’t found much success, so Big Eyes coin is pretty justified to forge its own path.
The Big Eyes coin is community-governed, and all holders would have a say on all crucial developmental updates from the project. Holders can create proposals and vote for consensus on the project’s future, making them more actively involved. It is something no memecoin project has done, and this would make for a decent social experiment as the memecoin finds success.
The Big Eyes stage 5 presale is selling fast; join here now.
You can use this code – BIG8773 – to get bonus tokens when you buy Big Eyes Coin!
Big Eyes Coin (BIG)
Presale: https://buy.bigeyes.space/Â
Website: https://bigeyes.space/Â
Telegram: https://t.me/BIGEYESOFFICIAL
*This article has been paid. The Cryptonomist didn’t write the article nor has tested the platform.
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