Saturday, January 28

Look at any rankings of cryptocurrencies, and you’ll be forced to see Tether (USDT) and USD Coin (USDC) cozying right next to Ethereum (ETH) and Bitcoin (BTC), with Binance USD (BUSD) and Dai (DAI) trailing not far behind.

Whether we like it or not, stablecoins have taken over the leaderboard of cryptocurrencies by market cap. Undoubtedly the demand for stablecoins is there, but has the success of Tether and USD Coin come at a cost?

Cryptocurrencies have garnered a bad reputation for being unstable, but this very instability has helped some make a profit. Are stablecoins a move from the essence of what cryptocurrencies are, or are they a step in the right direction?

Presale meme currency Big Eyes Coin (BIG) might just be the answer to that question.

The Rise of Tether

Tether is the most successful stablecoin on the market currently. Following the price of the U.S. dollar, the token was launched in 2014. Its success can be attributed to its usage as an inflation hedge, where Tether’s value can sometimes increase at a greater value than fiat currencies.

Having the same amount of dollar reserves as USDT, crypto holders feel secure by using Tether due to its cash backing.

The Subsequent Rise Of USD Coin

The second most successful stablecoin, USD Coin, is aligned exactly to the U.S. dollar 1:1. While there are many stablecoins on the market, USD Coin has shone thanks to its transparency and simplicity during a volatile period for the crypto market.

Big Eyes Coin Might Not Be A Stablecoin, But It Understands Why They Are So Popular

Although it would be easy to point a finger and blame stablecoins like Tether and USD as they dominate the crypto sphere, they could also come as a lesson for newer cryptocurrencies that the market is begging for more reliable tokens.

Take the success of Big Eyes Coin, for example. Although a presale token, Big Eyes Coin has managed to raise $12 million and gain nearly 40k Twitter followers.

Although Big Eyes Coin is not a stablecoin, its position as a token not yet released onto the market means the price of BIG remains fixed and not subject to market conditions (much like a stablecoin).

Furthermore, Big Eyes Coin also represents a shift in how new meme cryptocurrencies operate. With a better-developed ecosystem to encourage the prosperity of the token, Big Eyes Coins will offer an NFT marketplace, merch store, competitions, and charity incentives to keep BIG in demand. 5% of all tokens will be put into a marketing wallet to also ensure the token’s survival.

Another aspect that may make Big Eyes Coin appealing to stablecoin holders is its initial liquidity pool which will be locked for two years. This ensures funds cannot be moved outside the pool.

Likewise, the Big Eyes Coin contract has been audited by Solidity Finance and proven to be 100% secure.

The Bottom Line

Although many could see the popularity of stablecoins as a threat to the existence of traditional cryptocurrencies, they are also a gentle reminder that the crypto market desires better consistency and stability.

For this reason, Big Eyes Coin has taken this ‘nudge’ on board and is seeing success thanks to its observation.

Use the code for a BIG bonus: BIGsave734


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