In the midst of a protracted crypto sale, not many projects have had the courage to attempt a significant launch. But when the New Year draws near, many people want to start again.
Community-driven tokens are one investing trend that might endure in 2023, continuing in the victorious footsteps of initiatives like Dogecoin (DOGE) and Shiba Inu (SHIB). Big Eyes Coin is one initiative in particular that has generated a lot of buzzes and is considered the “next big player” in the cryptocurrency sector (BIG). Find out what makes Big Eyes unique as the meme currency prepares for its eagerly awaited launch.
But it also sparked a brand-new development called meme tokens. Meme coins are essentially digital currencies that draw their inspiration from humour, memes, and online satire. Meme coins have gained enormous popularity despite typically having little practical use, initially being headed by Dogecoin (DOGE).
There have been hundreds of meme coins created in recent years, some of which are even inspired by imitators or parodies, however, it is sometimes unclear exactly what renders these coins so popular. Despite this, they continue to play a sizable role in the cryptocurrency industry, supporting significant communities.
Knowing about the Big Eyes coin
Big Eyes is indeed a community-driven token that will go live with the intention of enhancing the global cryptocurrency environment, particularly decentralized finance (DeFi), NFTs, and the multiverse. The initiative, which will function as a decentralized app, is constructed on the Ethereum blockchain. Big Eyes is now in phase seven of its presale and has so far raised over $11 million, showing reveals how popular this meme cryptocurrency has been with investors. The NFT-capable ERC-20 communal token touts a number of qualities that might make this a potentially viable venture in an effort to establish itself as a major participant in the cryptocurrency market.
Big Eyes’ declared objective is to advance the cryptocurrency market despite veering away from these other meme cryptocurrencies such as Shiba Inu or Dogecoin. Putting DeFi or NFT use cases as well as practical value in the coin is one approach to do this. The BIG tokens would be utilized throughout the project’s whole environment, and in order to maintain the coin’s worth, a two-year first liquidity pooling will be established.
The initiative is to educate audiences on the use and possibilities of the cryptocurrency business, and more particularly DeFi since decentralized finance is still a subject that is mostly unfamiliar to most individuals. The group behind the initiative has also made it clear that rather than allowing cryptocurrency wealth to become concentrated in the possessions of the wealthiest individuals, it will emphasize promoting an equitable system of it.
Big Eyes is built solely on a token economy that is focused on the neighbourhood. In contrast to past cryptocurrency debuts, where a sizable portion of tokens is often kept for early backers and the planning committee. In this manner, the project can give its cryptocurrencies more trust and legitimacy.
The Big Eyes Coin (BIG) community seeks to provide consumers with complete security, and Solidity Financial has thoroughly examined its smart contract. Additionally, the ecosystem has anti-rug features designed to give DeFi customers constant peace of mind regarding the security of the crypto holdings.
This meme token’s intention to donate a large amount to charity, especially groups that work to conserve ocean animals from the negative consequences of pollutants and overfishing, is another appealing feature. The crypto fans who are also conscious of the beneficial impact the sector may have in supporting worthy organizations will undoubtedly find this to be appealing.
Crypto has become a revolutionary way for people to invest in their future and achieve financial freedom. People have realized that Bitcoin and other popular cryptocurrencies like Ethereum, Litecoin, and Dash will allow them to become free from the control of big corporations and bank systems that are not doing their job properly. The New Year is just about to get started and today we are going to help you out by listing a few best altcoins to invest in 2023.
Below is a list of some of the top altcoins to invest in for the next season.
Shiba Inu
Sandbox
Uniswap
Chainlink
Cosmos
So, let’s get started with best altcoins to invest in 2023!
1. Shiba Inu – The Best Altcoin to Invest in 2023:
You may have heard of this coin but if not, no worries as we are here to tell you a little bit about it so you can invest without any doubt. Launched in August 2020, it is a meme coin that saw some really amazing popularity within 2 years.
The reason behind this popularity may be the fact that it introduced a novel pay-to-burn feature that, over time, will slowly reduce the total number of tokens in circulation. With such exciting developments in it, it is not wrong if we say that it’s an investment with real potential for growth and hence it is among the best altcoins to invest in 2023.
Sandbox holds the potential to grow very well in 2023. The ecosystem of the sandbox allows the players to communicate and connect with each other while enjoying an immersive gaming experience. It’s more like a gaming project where you can earn their in-game currency SAND by creating custom characters and participating in a number of different challenging play modules.
This altcoin has already gained a good amount of attention from well-known companies. A famous music company i.e. Warner Music wants to hold virtual concerts on the Sandbox Metaverse. The growing rate of its adoption is a clear sign that it’s going to go very well in the coming year and hence grabs 2nd position in the list of best altcoins to buy and hold in 2023.
This can be considered one of the most adopted decentralized exchanges which was loved by many crypto enthusiasts. It has a lot of growth potential in the coming year and that’s why it’s in our list of the top altcoins to invest in 2023.
Uniswap helped people to take back control of their money and this thing welded the place of Uniswap as one of the most influential crypto pioneers of 2018 and we are sure that it is going to grow much better in 2023.
4. Chainlink:
Because of the fact that Chainlink is a decentralized oracle cryptocurrency that has already captured market dominance, we can’t resist adding it to our list of best altcoins to invest in 2023.
This amazing platform utilizes the latest technology to provide smooth connections between data sources and smart contracts due to which it also gained the attention of some world’s best businesses and traders towards itself. With up-to-the-mark security, strong data feeds, and flexible pricing, Chainlink is the most convenient solution for connecting to blockchain technologies.
Last but not least for sure, we have Cosmos on our list of best altcoins to invest in 2023 which is one of those altcoins that helps create blockchain interoperability. With the main focus on interoperability for Web 3.0, it has gained attention as one of the major providers of blockchain interoperability solutions.
Because of the fact that it is providing technologies necessary for truly interconnected systems, we are sure that it is going to grow very well in 2023 and is one of the best altcoins to invest in 2023.
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There have been various news doing the rounds regarding the new changes that are about to occur. These new changes are said to bring new rate hikes that will ultimately affect two of the major crypto assets. To shed light on this aspect, this article has delineated the reasons and consequences as well as the nature of the new upcoming reformations. The Federal Reserve has decidedly upon increasing the rate of interest somewhat around the current week and the whole industry is waiting eagerly to witness what consequences it gives rise to.
Expectations of traders from the increase in interest rate
There are a lot of expectations that are hooked to this surge and traders are awaiting to watch how the hike of a meager 0.75% can lead to a rally in the crypto market. As it is now known to those who are associated with the crypto industry, this particular industry is quite volatile and thus prone to fluctuations. It has witnessed various ups and downs of various crypto assets since the time it emerged on the scene but has been able to spread quite a strong base in the financial system.
A brief analysis of different crypto assets
In recent times, several crypto assets have taken a major hit and have even witnessed their worst downward trend. For example, the S&P and the Nasdaq Composite had to go through one of their worst periods and were even not able to perform properly.
There have been various reasons and concerns that have led to its downfall to a large extent such as the concern that haunts the investors regarding the Federal Reserve’s persistent endeavors to bring about sudden changes in monetary policy. These policies are being put in place to bring about a diversion from inflation however, it could give rise to a recession in the United States.
How did Bitcoin get affected by this?
As Bitcoin has always been in close contact with the S&P 500, it is thus, obvious that it would also witness a fall in its value in recent times. It has been estimated that the fall is going to be almost 9% in recent weeks. It has also been predicted that if this codependency continues, the current situation of the market and the S&P could lead to a further decline of the coin.
There have been various expectations from the Fed and how it plans to bring about a hike in the rates. While some expect it to be on a 75-point basis others have predicted it to be on 100 point basis. However, all the lingering tension in the crypto market has added to its volatile nature and has made all the traders rather eager and impatient. The anticipation and the wait have already started causing more troubles while the wait is still on and the consequences are still uncertain.
Conclusion
However, there is a plus side to it all that can benefit buyers as well as the crypto industry. If the rates decided by the Fed fall in sync with what the market expects from them, it can potentially get more buyers interested in the crypto industry. It can thus act as a factor that could help in adding to the popularity of the crypto industry. But this might not be true for all crypto assets but for some of the most popular ones that have the potential to yield better benefits. One can easily get details on the various cryptocurrencies that are going to go on a positive trend in the coming times.
The bearish position of the crypto market creates chaotic consequences among crypto investors. The rate of the top cryptos is falling increasingly. The last couple of months is a remarkable phase for the crypto market ever. The top two cryptos, Bitcoin and Ethereum price fall hit the market cap separately. Even Polygon network’s crypto Matic was decreasing its rate accordingly. Though the sellers’ pressure makes a big concern for crypto investors.
But this week was quite promising for crypto members. It is forecasted about the bull run. The temporary increasing price has indicated the upcoming progress in the crypto market cap. Polygon (Matic) price rose nearly 6% in the last 24 hours. Which is a green signal for the native investors.
Other Crypto Overview :
The top two currencies, Bitcoin and Ethereum, have continuous ups and downs that make the investors hold for a long period. Though the increasing rate of this week is making the situation in progress. As of the time of writing this post, Bitcoin is running at $23474.80. It is 1.40% at an increasing rate. On the other hand, Ethereum’s current price is $1637.49 and the increasing rate is 3.92%.
Noteworthy, the global cryptocurrency market is increasing by 4.8% to 1.12 trillion itself.
Polygon Overview :
The native crypto network Polygon’s crypto Matic is doing very well in the crypto market cap. According to reports, in the last 7 days, Polygon (Matic) price has increased around 71%. As of now, Polygon crypto is ranked 12 in the market.
In the last 24 hours, Polygon (Matic) price has risen nearly 6%. Which creates a massive crowd among the crypto investors. The exchange status of this crypto leaves a remarkable footprint.
Why Does Polygon Perform Well?
During this falling market, Polygon did its job better than the other networks. During this bear market, Polygon was able to perform well with some pre-planned strategies. During the price decrease, Polygon managed to retain its key support levels very well. After that, the price was increasing again.
Moreover, the partnership with Coca-cola and Disney in Spring and Summer 2022 makes the network perform well with unexpected increasing prices. Also, the layer 2 scaling solution is one of the considerable reasons behind it.
Polygon Current Status :
As of the writing time, Polygon’s volume is around $1.4B. Its price is now $0.903413. Polygon’s current market cap is $7.2B along with an 8.0B Matic circulating supply, which is 80% of the total. The market activity is in a bearish position, which is 78% buying and 22% selling graph. The typical hold time according to this network is 103 days. Above all, the price change in the last 24 hours is +5.14%. The 7 days price change is +28.87%.
Experts’ Prediction On Polygon :
Government Capital :
According to Government Capital, Polygon might trade for over $3.7 per coin by 2023. Even go up to $20 within 5 years. Which indicates a bull run for long-term investors.
WalletInvestor :
WalletInvestor predicted that Polygon’s price will be reduced as low as possible. It would fall to $0.035 by July 2023. According to WalletInvestor, Polygon might be a bad choice for upcoming years.
TradingBeasts :
According to TradingBeasts, Polygon can reach up to $1.17 by December 2022. It would be stagnant at $0.9 for the whole of 2023. In 2024, it will again rise to $1.5. Which indicates a low to high rate in the long run.
Digital Coin Price :
Digital Coin Price predicted that in 2023, Polygon will reach a minimum of up to 0.93 and a maximum of $1.15.
The massive fall of the crypto market hits crypto investors. The first-ranking cryptos like Bitcoin, and Ethereum float in the ups and downs of the graph. Still, the valuable resistance phase has not occurred. Though the Bitcoin bull Michael Saylor’s comment on the Ethereum blockchain has raised a temporary relief among investors. This is the time when buyers can take their planned move. Price falls, which means the supply is high but demand is less. In this circumstance, sellers are expected to stagnate their movement in the Crypto market. But the selling pressure does match the expected graph according to the situation.
Still, sellers are dominating the crypto market even in this massive fall down. The high reducing price rate and stable seller activity leave the market a big concern.
Why Does Elon Musk Sell Crypto With A Huge Loss?
In the context of crypto, Elon Musk’s shocking step must be a considerable matter. Musk’s Dogecoin is sold with a million-dollar loss knowing the consequences! Whole social media contains only one question, why does Elon Musk sell his coin with a huge loss?
Initially, Musk stated that Tesla had not sold a single Dogecoin. Letter the announcement hits the market. It was officially announced that 75% holding of Tesla’s Bitcoin is sold.
In January 2021, Elon Musk has purchased Bitcoin at 1.5 billion US dollars. Whereas on June 2022, Musk sold it at 936 million US dollars. Which refers to a massive loss for Tesla.
It is reported that Elon Musk was forced to sell the holdings to avoid the loss of over 800 million dollars in Q2 of 2022.
Though Elon Musk did not make the price fall responsible for his selling. Rather he blamed the covid19 lockdown situation in China which raised the uncertain value of the amount.
Talking about Bitcoin, it is seen that Bitcoin is retesting one very important level of support. The market was running very critical resistance. The dumb money is already out of the market.
Asian Investors Tend To Sell More :
In the context of the investor’s demography, a massive population is from an Asian country, especially from India! More than 10 crore investors are from India. Which is approximately 7% of the population of the country itself. After India, countries like the USA, Russia, and Nigeria take the position of higher investors.
It is reported that Asian investors ars selling more than buying even in this price-fall market! Selling indicates that the price would increase sooner. Though according to several reports, the crypto price rate is expected to drop more. Then why are the sellers dominating the crypto market still?
To analyze the strategy, it should be discussed the value of different countries’ currencies. As the maximum number of investors are from India, then Indian rupees or INR’s value might be the main reason.
Cryptos are exchanged with Tether (USDT). 1 Tether (USDT) equals $1. But during the exchange in other currencies such as INR, the rate might differ. The average calculation shows that cryptos are 2 to 3 lakhs more expensive during purchasing for Indian investors than for US investors. It means buying is costly but selling will be profitable.
In this price fall market, selling pressure is still there for the anticipation of more falling. Bulk investors are from Asian countries. The country’s currency value is less than the USD. So for these Asian investors, this is a good time to sell. As it is anticipated that the price might fall more.
Conclusion :
The price fall market is now a remarkable concern of crypto investors. Where demand slows down and price falls. Though the selling pressure becomes another concern of the crypto world.
