Crypto News – FTX Crash and USDT Depegged from the Value of $1. Are Presales the Safest Investment in this Bear Market?
The last year has been spectacular. Unfortunately, not the kind of spectacular one would typically like to see. Terra Luna collapsed. UST, Luna’s algorithmic stablecoin collapsed. Alameda and FTX go insolvent and FTT’s value plummets. USDT depegs… Is this the end for crypto?
Is Tether really in danger?
In crypto, no one knows, but it is unlikely. The key difference between USDT and UST was that the latter was not backed by collateral. The value of UST relied on the value of LUNA, which in hindsight was a terrible concept. In a market as volatile as crypto, one asset cannot depend on the value of another, and the Luna crash exemplified this.
USDT is fully backed, 1:1, by the US Dollar. Looking back over the years, in times of turmoil, USDT has occasionally slipped from its peg but has always recovered. This is another such situation. The crypto market is in a state of sheer panic and all currencies are undergoing huge amounts of volatility due to the increased liquidity on exchanges.
So no, put simply, Tether (USDT) is not in any real danger but it might be safer to increase exposure to fiat money in these once-in-a-blue-moon conditions. The USDT crisis does, however, add fuel to the already raging panic fire present throughout the cryptocurrency market. Following recent news, another move to the downside would be unsurprising. Investors, be careful!
The Big Eyes Coin presale offers surety in these troubling times
The Big Eyes presale has raised nearly $10 million over the past couple of months. Due to the mechanism of the presale itself, once an investment has been made, the monetary value of the investment can only increase.
Each completed presale phase sees a 25% increase in the value of Big Eyes tokens. Meaning once the project has launched, your investment is guaranteed to be higher than it was upon investment.
Of course, nothing can be said for the price action following the project’s launch as the value will be determined by the market. However, in times of turmoil like now, the Big Eyes presale might just present a shining light, in the seemingly endless tunnel.
What makes Big Eyes any different to other meme coins?
For those who couldn’t tell, the above picture is of Big Eyes. Big Eyes, the cat, depicts the animal many believe is missing from the current meme coin market. This frisky feline is looking to upheave the current settlement of Doge-themed meme coins.
This gives Big Eyes huge potential. As the only project vying for the feline space, Big Eyes has the opportunity to take up a huge market share once the token is launched. With cute cat NFTs to be launched in early 2023, the project looks set for cat celebrity status.
Rumour has it that in November, Big Eyes will be advertised in Times Square on the 3D Billboard, which impresses 3-400,000 different people every day. This could have a huge determination on the adoption, awareness and success of the Big Eyes project.
With the crash of FTX are you still not convinced to buy Big Eyes Coins yet? Check the button below to check out their website or the attached link to be taken to their presale! Make sure you have some ETH, USDT or BNB to be able to purchase some in your wallet!
The post Crypto News – FTX Crash and USDT Depegged from the Value of $1. Are Presales the Safest Investment in this Bear Market? appeared first on Analytics Insight.
The last year has been spectacular. Unfortunately, not the kind of spectacular one would typically like to see. Terra Luna collapsed. UST, Luna’s algorithmic stablecoin collapsed. Alameda and FTX go insolvent and FTT’s value plummets. USDT depegs… Is this the end for crypto?
Is Tether really in danger?
In crypto, no one knows, but it is unlikely. The key difference between USDT and UST was that the latter was not backed by collateral. The value of UST relied on the value of LUNA, which in hindsight was a terrible concept. In a market as volatile as crypto, one asset cannot depend on the value of another, and the Luna crash exemplified this.
USDT is fully backed, 1:1, by the US Dollar. Looking back over the years, in times of turmoil, USDT has occasionally slipped from its peg but has always recovered. This is another such situation. The crypto market is in a state of sheer panic and all currencies are undergoing huge amounts of volatility due to the increased liquidity on exchanges.
So no, put simply, Tether (USDT) is not in any real danger but it might be safer to increase exposure to fiat money in these once-in-a-blue-moon conditions. The USDT crisis does, however, add fuel to the already raging panic fire present throughout the cryptocurrency market. Following recent news, another move to the downside would be unsurprising. Investors, be careful!
The Big Eyes Coin presale offers surety in these troubling times
The Big Eyes presale has raised nearly $10 million over the past couple of months. Due to the mechanism of the presale itself, once an investment has been made, the monetary value of the investment can only increase.
Each completed presale phase sees a 25% increase in the value of Big Eyes tokens. Meaning once the project has launched, your investment is guaranteed to be higher than it was upon investment.
Of course, nothing can be said for the price action following the project’s launch as the value will be determined by the market. However, in times of turmoil like now, the Big Eyes presale might just present a shining light, in the seemingly endless tunnel.
What makes Big Eyes any different to other meme coins?
For those who couldn’t tell, the above picture is of Big Eyes. Big Eyes, the cat, depicts the animal many believe is missing from the current meme coin market. This frisky feline is looking to upheave the current settlement of Doge-themed meme coins.
This gives Big Eyes huge potential. As the only project vying for the feline space, Big Eyes has the opportunity to take up a huge market share once the token is launched. With cute cat NFTs to be launched in early 2023, the project looks set for cat celebrity status.
Rumour has it that in November, Big Eyes will be advertised in Times Square on the 3D Billboard, which impresses 3-400,000 different people every day. This could have a huge determination on the adoption, awareness and success of the Big Eyes project.
With the crash of FTX are you still not convinced to buy Big Eyes Coins yet? Check the button below to check out their website or the attached link to be taken to their presale! Make sure you have some ETH, USDT or BNB to be able to purchase some in your wallet!
The post Crypto News – FTX Crash and USDT Depegged from the Value of $1. Are Presales the Safest Investment in this Bear Market? appeared first on Analytics Insight.
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