The cryptocurrency market has seen significant volatility recently, with prices fluctuating rapidly. However, in 2023, the market experienced a surge, with many investors wondering if we were in a bull market. As the second-largest cryptocurrency by market capitalization, Ethereum (ETH) has been a vital driver of the current bull market.
Big Eyes Coin and Dogecoin: Altcoins to Watch
As the market surges, some altcoins stand out as potential investment opportunities. One such coin is Big Eyes Coin (BIG), a new project that aims to provide a platform for artists and collectors to trade and invest in digital art. The project has gained significant attention recently, with many investors buying the coin in anticipation of its success.
Another coin that has been making headlines is Dogecoin (DOGE), a cryptocurrency that started as a joke but has since gained significant popularity. Dogecoin’s recent success can be attributed to a series of tweets by Elon Musk, the CEO of Tesla and SpaceX, promoting the coin.
Both BIG and DOGE have gained significant attention from investors, and their success is closely tied to the performance of Ethereum. Ethereum’s dominance in the DeFi and blockchain space means that the success of these altcoins is heavily reliant on Ethereum’s performance.
Ethereum’s Bull Market
Ethereum’s success in the current bull market can be attributed to its significant role in the DeFi space. DeFi protocols run on top of the Ethereum network, making it the go-to blockchain for DeFi applications. Ethereum’s dominance in the DeFi space has attracted significant investor attention and driven up the price of ETH.
As the price of ETH continues to rise, it is expected to reach the next stop of $2,000. The upcoming Ethereum 2.0 upgrade, which aims to improve the network’s scalability, security, and energy efficiency, is expected to make Ethereum even more appealing to investors and developers.
Ethereum’s Impact on Altcoins
The success of altcoins such as BIG and DOGE is closely tied to Ethereum’s performance. Ethereum’s dominance in the DeFi and blockchain space means these altcoins rely on the network. Any significant issues or challenges faced by Ethereum could negatively impact the success of these altcoins.
On the other hand, if Ethereum continues to perform well, these altcoins could thrive in the current bull market. As investors flock to the network to invest in various DeFi protocols and applications, the demand for these altcoins could increase, driving their prices.
Make or Break Time for Ethereum
While Ethereum’s recent success has been impressive, the network has challenges. One of the most significant challenges facing the network is high transaction fees. These fees have been steadily increasing due to the network’s limited capacity, making it difficult for smaller investors to participate in the network.
The upcoming Ethereum 2.0 upgrade aims to address this issue by improving the network’s scalability and reducing transaction fees. The upgrade is expected to make Ethereum more accessible to smaller investors and increase the demand for the network, driving up the price of ETH.
However, failure to address these challenges could lead to a decline in investor confidence, negatively impacting Ethereum’s performance. Such an outcome would also negatively impact the success of altcoins such as BIG and DOGE, which rely heavily on Ethereum’s performance.
Cryptocurrency is most likely in a bull market, and Ethereum’s success is a key driver of this trend. As the network faces various challenges, it is a make or break time for Ethereum. The success of altcoins such as Big Eyes and Dogecoin is closely tied to Ethereum’s performance and any significant issues.
Big Eyes Coin (BIG):
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
