Updated: Nov 03, 2022 13:14 IST
New Delhi [India], November 3 (ANI/ATK): The Ethereum blockchain homes many different web3 and blockchain applications. These range from metaverses to NFTs to DeFi and the next bull market will likely see the creation of new, as-of-yet-undiscovered markets.
Best known for its prevalence in DeFi, ETH and its native ERC-20 token projects have been making headway during this bear market, two of the most notable have been Curve Finance and Big Eyes Coin.
Curve leaks its long-awaited stablecoin
In the wake of Terra Luna’s stablecoin collapse, algorithmic stablecoins have come under flak. All for good reason too, the roughly USD 60 billion collapse of the Terra ecosystem lost investors their livelihoods and crippled the crypto economy.
CRV is looking to implement an over-collateralised stablecoin. This would be a stablecoin backed by both cryptocurrencies and LPs (Liquidity Pools), in turn making liquidity more ‘sticky’ on the Curve platform.
This would further increase the prevalence that CRV already has in the cryptocurrency market. The Ethereum DeFi application is already one of the largest liquidity providers in the DeFi space, behind only MakerDAO regarding its TVL.
A successful Curve stable coin would serve the Ethereum price and ecosystem extremely well, bringing in extra locked liquidity and value to the blockchain. ETH is renowned for its high levels of decentralisation and a CRV stablecoin, centred around true decentralization, would further the blockchain’s commitment to a decentralised financial infrastructure.
Peaking at USD 6.70 in last year’s bull market, CRV is trading 86 per cent down from its cycle high. Curve Finance tokenomics are also extremely strong with 62 per cent of its total 3.03 billion tokens being distributed to liquidity providers. As cryptocurrency adoption continues to grow, tokenomics will increasingly become a more pivotal player in the success of a project.
Big Eyes Coin bridges community and charity
Cute is the new currency. At least that is true for all Big Eyes holders and its community. This new meme token is looking to bring cuteness and felines into cryptocurrency fame by entering the top 50 coins ranked by market capitalisation. Big Eyes is tapping into the void currently in the meme coin market – the feline.
Meme coins have become synonymous with Doges – excluding the prestigious Apecoin. Big Eyes is expecting to tap into this cat-shaped hole in the market, possibly kickstarting a wave of cat meme coins to emerge come the bull market.
With this in mind, could Big Eyes become the Dogecoin of dog meme coins? The effect Big Eyes could have on the market is still extremely ambiguous but there is certainly a great deal of hype surrounding this bear market winner. Raising USD 9 million already Big Eyes plans to launch after a total of USD 50 million raised.
It aims to achieve its next wave of funding through an NFT release; while the details of the NFT collection are still unknown, NFT and currency joint projects have a history of performing extremely well. Apecoin makes a notable point of reference here, with the Bored Ape Yacht Club becoming the staple blue chip NFT collection.
Getting exposure to Big Eyes tokens before the NFT launch is arguably the best strategy. It has been rumoured that NFTs could be airdropped to large Big Eyes Coin holders and this could lead to impressive ROIs considering the value of the NFT market over recent years.
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