Silvergate Crash Leaves Bitcoin And Ethereum Holders Reeling, As Big Eyes, Coin Underlines Why Presales Are Better Investments
At first, glance, investing in a new coin that hasn’t yet gone live seems risky. Yet the continuing success of Big Eyes Coin (BIG) during its presales coupled with the Silvergate Capital crisis has illustrated to us why sometimes it’s wiser to invest in presales over an established coin like Bitcoin (BTC) or Ethereum (ETH). This article will examine the heavy losses sustained following Silvergate’s crash and then examine why investing in Big Eyes Coin during its presales might be a safer option.
What Is The Silvergate Crisis?
Silvergate had been providing a payment network for multiple cryptos for many years. But following the FTX crisis it became mired in a crisis as customers departed with $8.1bn, meaning it had lost 60% of its deposits in just one quarter. As it delayed publishing its 10-K report, it admitted that further unreported losses would mean the bank was “less than capitalised.” This immediately prompted an exodus as cryptos began distancing or entirely severely cutting ties, causing the Silvergate stock to nosedive by a shocking 57%.
This eventually culminated in the bank announcing that it was winding down its operations as it failed to stem the damage. The repercussions were widespread within the cryptocurrency landscape.
Bitcoin And Ethereum Sustain Heavy Losses
Traders within the crypto market were hit hard by revelations that Silvergate Capital would fold. Traders lost up to $307 million in the 24 hours of the news. Traders on Binance, the largest crypto exchange by trading volume, saw losses of up to $104m.
Bitcoin was hit the hardest as its traders suffered some $112m in liquidation while Ethereum losses surpassed $73m. The ferocity at which cryptocurrency prices went downhill would have left investors alarmed and stunned. Bitcoin, with the biggest market cap, shrunk by 6% in the 24 hours following the Silvergate announcement, and its price reached its lowest in seven weeks at $20,050. Meanwhile, Ethereum, the second-largest cryptocurrency, declined by over 9% at the same time as Bitcoin’s market cap slumped. Its market capitalisation now sits at around $170.6 billion.
Silvergate Crisis Shows Value Of Presale Investments Like Big Eyes Coin
The losses sustained within these markets underline why investors can feel reluctant to commit to crypto. This, however, is why presales are often a more sensible alternative. With tokens, albeit a limited supply, sold at often discounted prices in addition to further benefits, they significantly lower the risk of traders suffering heavily in losses.
Big Eyes Coin is a strong example of that. It is a new meme coin that has been an impressive success so far with investors. It has produced over $31m in sales making its target of $50m seem attainable. Big Eyes has been catching the attention and its presale performances have been the best in recent crypto history. Yet it has done this through forging a relationship of trust with traders, which may never have been more pertinent than in today’s crypto market after the Silvergate implosion.
To highlight this, one only needs to look at Big Eyes Coin’s recent launch of four loot boxes which is something most crypto traders could find difficult to resist.
The first box is the Cute Box which offers prizes of $100, $120, $300, $800, and $5000 in BIG tokens and only requires $100 to be opened. The Kitty Vault is bought for $500 and its first prize begins at that and includes a possible maximum reward of $25k. The Super Saiyan Box can offer you a maximum reward of $100k in BIG tokens at a price of just $1000.
The final box is its Excali-Paw Master Chest, purchased at $10,000 but with a potential reward of $1,000,000 in BIG tokens for buyers.
The unique selling point of these boxes is that they’re designed to prevent buyers from suffering losses. The rewards found within boxes either match the costs of each box or entirely surpass them in value. An investor who buys the boxes will at least avoid the financial losses that are often an unfortunate feature of the crypto market, as seen with the losses sustained following the Silvergate Capital crash.
Sometimes, the cryptos enjoying the best presales are the more reliable investments. Big Eyes Coin has shown us throughout its presales that it is a more than sensible coin for buyers to invest in. It’s established itself as one of the hottest cryptos of 2023 enjoying a presale that simply cannot be missed. Right now, this appears to be the best time to invest in one of the most exciting coins around.
If this is something that interests you, then look at the links below for more on Big Eyes Coin:
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
Twitter: https://twitter.com/BigEyesCoin
