The past few weeks have shaken the market, and this FTX collapse could be said to have almost the same effect as the Terra collapse of May earlier this year. When collapses like this occur, all closely related projects and firms are usually collateral damage, and for a token caught in the crossfire, BNB is performing quite well. The early days of the FTX crash made it seem like it was a Binance vs. FTX situation because the CEO of Binance made the first tweet, creating panic. However, as the situation deepened, it became more apparent that FTX was doomed to fail as it had a massive hole in its fund. It was just a matter of who triggered the alarm.
On the other hand, Big Eyes Coin (BIG) had an excellent presale event up until the market crashed. Big Eyes has raised over $10 million on its presale, an incredible number for any new project in a bear market. It points to a potential future of great returns and massive opportunities for early investors. Users who can spot this opportunity are already looking to accumulate their tokens through the presale stages. The market crash has affected the momentum, but it has demonstrated strength so far and could be one of the biggest things to come out of the crypto market.
Binance Coin (BNB)
Binance Coin (BNB) is the utility token for the Binance exchange, and it was limited to the centralized platform in its early days. Its utility became broader after the launch of Binance Smart Chain, an EVM blockchain meant to be an alternative to Ethereum. The Binance Smart Chain has proved instrumental to the market as it greatly influences the DeFi and NFT markets.
Despite Binance being a centralized firm, its offerings have established some dominance in the market. From owning the biggest crypto exchange to the second largest EVM blockchain to the fourth-largest stablecoin. BNB has continued to prevail despite the market’s volatility.
Vitalik Buterin and CZ, the CEO of Binance, agreed that centralized exchanges (CEXs) are required to offer transparent proof demonstrating user safety. Naturally, CZ was the one who first promoted the Proof-of-Reserves concept in reaction to the tragedy that befell FTX consumers, and numerous exchanges eventually adopted the methodology.
However, the co-founder of Ethereum (ETH) suggested that the model could be improved, and CZ said that the exchange team could put the suggestion into practice. This is a callout for all crypto exchanges to get ready to prove solvency, and it could cause changes in the structure of exchanges.
Big Eyes Coin (BIG)
Big Eyes (BIG) is a new memecoin project launching on the Ethereum network and is hoping to help the memecoin landscape take a unique shape. Big Eyes Coin is a new memecoin that hopes to revolutionize the face of memecoins and introduce the market to new cat memes instead of dog memes. Big Eyes believes that dog memes are overwashed and don’t make for a good joke anymore.
Big Eyes uses big-eyed cat memes that present a new comic relief to the market and hopes to inspire emerging memecoin projects to join the bandwagon. Big Eyes primarily aims to create wealth like memecoins before it; its DeFi and other utilities will be targeted at creating value for the community, so holders have much more to gain from Big Eyes than users consuming the utilities.
Big Eyes is still selling out on presale, and it would be smart to join before stage six rounds up. Join the Big Eyes presale here now:
Don’t miss the chance to get bonus tokens with your Big Eyes purchase this Black Friday, using the code BLACKFRIDAY50