Most cryptocurrency investors and users are concerned that as more coins are launched, the market may become flooded with identical currencies. Big Eyes Coin (BIG) stands out because of its growing Non-fungible token (NFT) qualities and dedication to its community.
While tokens such as Bitcoin (BTC) and Quant (QNT) have some of these characteristics, they are expensive in comparison to other cryptocurrencies. Big Eyes Coin (BIG) seeks to take over from Bitcoin (BTC) as the top cryptocurrency, and its low transaction costs and support for NFTs distinguish it from other tokens such as Bitcoin (BTC) and Quant (QNT).
Bitcoin (BTC) The OG
Bitcoin (BTC) was created as a decentralized alternative to the traditional economic model in which governments issue and regulate currencies. Because Bitcoin is a top-tier decentralized cryptocurrency, it can be bought, traded, and swapped between holders without the involvement of a third party.
Bitcoin (BTC) is the most popular cryptocurrency by market capitalization, but it has been closing in the red for the previous few weeks. Because the coin accounts for 40% to 49% of overall crypto market capitalization, its price action frequently influences that of other cryptocurrencies.
Since reaching an all-time high of $69,000 in November 2021, Bitcoin has been in a year-long negative decline with only a few retracements. In reality, BTC was on the verge of continuing its losing trend. However, in the late evening hours of November 10, it unexpectedly increased.
Bitcoin maintained upward momentum and recovered above $15,000 after a minor dip in the late hours of November 10. Bitcoin is currently trading between $17,000 and $19,000, representing a 10.5% increase.
Quant (QNT) The Leading Blockchain
Quant Network (QNT) is a leading blockchain technology that allows numerous DLT networks to be interconnected. This program aids in the processing of transactions on different blockchains. Quant Network is a privately funded blockchain project.
Quant’s price has been progressively decreasing after achieving all-time highs, and it is currently trading at $148, with significant support levels at $147 and $143. The RSI (relative strength indicator) shows that the market will soon witness a favorable trend based on current market conditions. Smaller coins, – for example, Quant, are on the rise.
Large Quant holders started dumping their holdings near the token’s all-time highs, increasing the likelihood that the drop will continue toward the technical goals. This movement was exacerbated by a lack of investor trust in Quant as a result of its closed-source nature.
It’s worth noting that the large increase in Quant’s total number of daily active addresses (DAA) occurred around the same period. This indicator displays the number of distinct addresses that send or receive data through the network.
Big Eyes Coin (BIG) The New Meme Coin
Big Eyes Coin (BIG) has had a significant impact not just on the meme coin industry, but also on the cryptocurrency market in general. The new meme coin has received a lot of attention online because of its charming mascot, a cute cat with wide pupils dressed in manga/anime style.
Big Eyes Coin’s distinct look, paired with its ambitions to divert wealth into the decentralized finance ecosystem, earned the support of crypto influencers like Ieda Wobeto, StormzETH, Rafa, and Gino Assereto on Twitter.
These endorsements also helped Big Eyes Coin’s Twitter presence expand at an exponential rate, with over 40,000 followers at the time of writing.
Big Eyes Coin took its marketing effort to the next level on November 14, 2022, when it appeared on a 3D billboard at Time Square, a commercial intersection in Manhattan, the wealthiest borough in New York City, propelling the blockchain network to a worldwide level. BIG has raised $10.26 million in less than a year and has established itself as one of the greatest emerging crypto coins on the market.
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*This article has been paid. The Cryptonomist didn’t write the article nor has tested the platform.