2022 saw the cryptocurrency market take a bearish trend, causing many tokens to fall significantly below their opening valuations for the year, with up to 80% decreases in some cases. At the same time, Big Eyes (BIG) started its presale in the last quarter, taking the market by storm and redefining memecoin standards all over the crypto space. Here’s a review of the token and how it will compete with Dogecoin (DOGE) and Stellar (XLM) for the user base in the cryptocurrency market as it rounds up its presale event.
Stellar–Intercontinental Transfer made Possible
Stellar (XLM) is a platform that enables safe and quick transfers between users across long distances. The XLM token powers the network, acting as a fuel and governance token for operations on the blockchain.
Stellar’s main goals lie in making blockchain activities available for non-DeFi institutions like banks and payment systems. The speed and anonymity that blockchains offer will go a long way to improve the activities on such platforms, and that’s where Stellar fits in.
Stellar (XLM) provides security and speed for long-distance asset transfer between banks and payment software. The sending party sends the funds in XLM tokens to the receiver who converts them into fiat currency. This is how several banks conduct their business in other countries to facilitate faster asset transfer and ensure the safety of funds.
Stellar (XLM) is a fork of the Bitcoin network, breaking off in 2014 to become an independent protocol. After years of research and development, the protocol has evolved into what we know today as Stellar, running on a proof of stake protocol called the Stellar Consensus Protocol, which contrasts its original proof of work protocol.
Following its development, Stellar (XLM) has partnered with several banks and payment systems across the world, including in Europe and Africa, enabling smooth communication between branches and clients. The XLM token powers the platform and is available for sale on CoinMarketCap for $0.91.
Dogecoin–Top of the Memecoin chain
Dogecoin (DOGE) was the first token to launch in the memecoin sector, ushering in a generation of projects designed to make the crypto atmosphere more humorous. The platform launched in 2014, and it has since been a steady presence in DeFi.
Dogecoin’s developers, Billy Markus and Jackson Palmer, created the project to supply memes to crypto traders every day to reduce the tension of trading. The coin powers a platform based on a proof of work protocol, which enables users to mine tokens from an unlimited pool. However, mining has become obsolete in the cryptocurrency market, as only specialised computers can facilitate profitable mining.
Dogecoin (DOGE) has been constantly rising through the ranks on the crypto charts. However, its breakthrough moment came in 2021 when Elon Musk joked about its possibility of becoming the primary global medium of exchange. This comment attracted a trove of users and investors to the Dogecoin network, resulting in a subsequent rise in trading volume. Within a month, Dogecoin’s market cap rose to over $80 billion, ranking it among the top ten coins in the cryptocurrency market.
Dogecoin’s development seems to have plateaued, and many analysts believe it is due to its lack of value in its protocol. The developers will be changing the narrative soon, as they hope to add contemporary blockchain elements.
DOGE tokens are available on CoinMarketCap for about $0.085.
Big Eyes–Record-breaking Memecoin Project
Big Eyes (BIG) launched its presale in 2022, following fellow Ethereum launch, Tamadoge. The token has set several standards for the average memecoin now, as it sought to correct the popular notion that memecoins don’t offer any value. This is evident in the developers’ efforts to include contemporary blockchain features like NFTs and smart contracts in the platform.
Big Eyes (BIG) will be looking to open its NFT marketplace, Sushi Crew, immediately after its launch. The virtual marketplace will enable users to create their NFTs from various content sources like videos, pictures, and text. Also, the developers will launch various NFT projects to provide users with several artworks to collect from. Sushi Crew will also cut all the charges from NFT transactions, allowing its users to trade NFTs free of charge so they can evade the heavy gas fees associated with the Ethereum network.
Smart contracts will be a constant feature on Big Eyes (BIG), allowing the protocol to execute operations efficiently. Smart contracts are programs written to reduce the time frame involved in block processing on networks. Big Eyes’ smart contracts have been audited and approved for operation immediately after the token launch.
Get your BIG tokens today here on the presale page to enjoy the latest updates on the platform.