Cryptocurrency Market Fails to Recover as Bitcoin and Ethereum Continue to Fall « Euro Weekly News

crypto update

The cryptocurrency market has remained stagnant due to widespread uncertainty in the industry from the recent crisis at crypto-friendly US bank Silvergate Capital. The global cryptocurrency market cap is down 1.79% from the previous day to $1.01 trillion, while the total crypto market volume in the 24-hour period is up 41.72% to $46.49 billion.

The all-red trading in the crypto market comes at a time when the crisis surrounding Silvergate Capital, a crypto-friendly bank based in California, United States, is deepening and the bank continues to have doubts about its ability to continue as a going concern given its stock historically has plummeted 95% a year after suffering significant losses following FTX’s crash in November last year.

The impact of Silvergate has been reflected in the prices of the industry’s two most powerful cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH). However, Big Eyes Coin (BIG), a meme token making its way into the industry, is dominating the pre-sale phase with exciting new offerings for its holders.

Bitcoin – Inflation remark keeps price just above $22,000

Bitcoin (BTC) fell below $22,000 to trade at $21,964.99 after Federal Reserve Chair Jerome Powell said in his two-day semi-annual monetary policy hearing before Congress that inflation remained unexpectedly high.

Bitcoin has been trading in a tight range since last week after hitting a 30-day high of $25,134.12 as a surge in jobs and price indicators raised inflation concerns. At the time of writing, Bitcoin was trading at $22,032.28, down 1.88% from the previous day and a 7-day drop of 7.26%.

Ethereum – Stronger downward pressure pushes the price lower

Ethereum (ETC) joined Bitcoin as its price continued its downtrend similar to BTC. Ethereum posted a 24-hour low of $1,543.13 as it is struggling to clear $1,600 on strong bear pressure. The recent downtrend following a bull market dominated for 30 days and hit a high of $1,732.80.

At the time of writing, Ethereum was trading at $1,552.51, indicating a 24-hour decline of 1.20% and a weekly decline of 6.10% as the bulls attempted to break the downtrend line and the to drive the price up.

Big Eyes Coin – vault pin for free loot boxes

Big Eyes Coin (BIG) is a new ERC-20 token based on the Ethereum blockchain. Since its pre-sale launch in August last year, the project has consistently achieved its goals before launch.

Now in phase 12, Big Eyes Coin has raised more than $31 million in presale tokens and will go live after raising its target from $50 million at the end of phase 15. A BIG token is currently worth $0.00049 from its pre-sale price in Phase 1 of $0.0001, an increase of 390% from the pre-sale launch. Buyers have just under three steps to buy their BIG token at a discounted price and earn higher returns at launch.

Because Big Eyes Coin is a community-powered token, it’s all about giving. The newest gaming feature, loot boxes, can be found during gameplay, earned as rewards, or paid for with real money.

The piggy bank can be opened for $10, with a maximum prize of $500 worth of BIG tokens. The “Cute Box” costs $100 to open and offers a top prize of $5,000 worth of BIG tokens. The Kitty Vault costs $500 to open and the top prize is $25,000 worth of BIG tokens. In the Super Saiyan box, which costs $1,000 to open, there are BIG tokens with a maximum value of $100,000. The largest and most valuable loot chest is the Excali-Paw Master Chest, which costs $10,000 to open and has prizes ranging from $10,000 to a whopping $1 million worth of BIG tokens. A BIG user can now get free loot boxes by using vault pin 819. Users just need to enter the PIN before buying BIG tokens to get the above loot boxes.

The Loot Crates are only valid during the pre-purchase phase and will end after phase 15 when the project goes live. Buyers are guaranteed not to lose money opening a loot box as the results are always random and users always get their money back at least.

Learn more about Big Eyes Coin (BIG):

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

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ATTENTION: Investing in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost

IMPORTANT NOTICE: Investing in crypto assets is unregulated, may not be suitable for retail investors and the entire amount invested may be lost

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