The crypto market is in one of the worst states it has ever been. Following several embarrassing scandals in 2022, the start of 2023 has been bleak in the crypto sphere.
However, this has not swayed crypto enthusiasts and perhaps only incentivized them to become more creative with their portfolios. For this reason, many are taking to the holding stablecoins Binance USD (BUSD) and Dai (DAI) as well as presale token Big Eyes Coin (BIG) due to their reduced volatility.
Binance USD: Backed By The NYSDFS
Binance USD (BUSD) is a stablecoin. Unlike traditional cryptocurrencies, the token is less volatile (due to it being backed 1:1 to the U.S. dollar). Essentially, this means for each BUSD token held, an equal amount of dollars is reserved to hold the currency’s value.
What makes Binance USD reliable and popular among the crypto community is its approval and regulation by the New York State Department of Financial Services and the publication of a monthly audit report. For this reason, BUSD ranks as the 7th largest cryptocurrency by market capitalization.
Dai: Make The Most Of The Bear Market
Falling just behind Binance USD by market capitalization is Dai (DAI) by MakerDAO. Ranking as the 11th largest crypto by market capitalization, Dai has made a name for itself as a stablecoin among the crypto community.
What gives Dai a special edge is that it is operated by MakerDAO and Maker protocol, which is a decentralized organization governed democratically and without prejudice.
Also backed by the U.S. dollar, many crypto followers have found themselves drawn to Dai as a way to escape market fluctuation and volatility.
Big Eyes Coin: $12 Million Raised During The Crypto Winter
Although stablecoins appear to be the perfect solution to the ongoing bear market, many remain cautious of them. For instance, the claim that stablecoins hold an equal reserve of fiat currency or assets has often been scrutinized, and in the case of the Terra crash, proven to be untrue.
As the market recovers from its injured reputation for being trustworthy, many have turned to presale currencies as another way of investing in a digital currency that has a fixed price.
In the case of the presale meme coin Big Eyes Coin, this has proven to be immensely successful. During one of the most turbulent periods of crypto history, the cat-based token has managed to raise over $12 million and almost garner 40,000 Twitter followers.
Considering most days the market remains red, Big Eyes Coin’s success has been astronomical.
Big Eyes Coin’s journey can not only be attributed to its status as a presale coin. Increased attention to the needs of the community, including a fully audited contract by Solidity Finance and professional team verification, has helped establish an air of safety for Big Eyes Coin fans that have helped boost its reputation.
While Big Eyes Coin token prices are not affected by the market when each stage of the presale ends, the price of BIG is increased.
The Bottom Line
Binance USD, Dai, and Big Eyes Coin have all been used as methods to avoid the market’s current volatility. However, as Binance USD and Dai are both stablecoins, they don’t allow their users to grow their savings by a significant margin.
In the case of presale coins like Big Eyes Coin, there may be more opportunities to take part in crypto that has the potential to explode.
Use the code for the BIG token bonus: BIGsave432
For more information Big Eyes Coin (BIG):
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
