As Bitcoin (BTC) faces its first monthly loss in 2023, the cryptocurrency market is witnessing the rise of meme coins like Dogecoin (DOGE) and Big Eyes Coin (BIG). While Bitcoin’s price languishes in the sub $28k levels, these fun-infused tokens are making significant waves, particularly Big Eyes Coin (BIG) with its successful presale.

Bitcoin Heads for First Loss in 6 Months

Once the frontrunner of the crypto market, Bitcoin has recently experienced a dip in its value. A host of factors contribute to the fall in BTC price, and these include adverse macroeconomic factors, hostile regulatory attention and central bank policies. After a long bullish run, Bitcoin is now heading towards its first monthly loss in 2023. With its price struggling to surpass $28,000, investors are seeking alternative cryptocurrencies that exhibit potential for growth and utility

The Dogecoin Alternative is Rooted in Community

In the realm of meme coins, Dogecoin has captured significant attention due to its iconic Shiba Inu logo and widespread adoption. Despite its origins as a joke cryptocurrency, Dogecoin has established itself as a viable digital asset with a dedicated community. Its decentralized and open-source nature allows for rapid transactions and low fees, making it suitable for microtransactions and online tipping.

Furthermore, Dogecoin has gained traction as a philanthropic currency. The Dogecoin community has shown great generosity by supporting various charitable initiatives, including fundraisers for clean water projects, disaster relief efforts, and sponsoring athletes. These factors contribute to Dogecoin’s appeal as a meme coin with real-world impact.

Big Eyes Coin’s Presale Enters Last Lap

While Dogecoin is riding on top of the meme coin space, Big Eyes Coin has emerged as a promising player in the space. The project’s presale garnered immense investor interest, attracting over $45 million in investments. This presale figure surpasses all recent records, highlighting the strong confidence investors have placed in Big Eyes Coin.

One factor that set Big Eyes Coin’s presale apart was its engaging approach. The team organised exciting competitions, loot box giveaways, and charity donations, fostering a sense of community and excitement around the project. As the presale approaches its conclusion on June 3rd, Big Eyes Coin has made $BIG available at stage 3 prices, offering investors an opportunity to get in on the Big Eyes revolution before its official launch.

Moreover, Big Eyes Coin aims to integrate with decentralised finance (DeFi) by launching the Big Eyes Casino on August 29th. The casino is set to feature over 4000 titles, making it a potential revenue generator and a significant player in the play-to-earn space. In addition, Big Eyes Coin plans to develop DeFi projects and decentralised applications (dApps) within its ecosystem, positioning itself with a competitive advantage among its peers.

Conclusion

As Bitcoin struggles to maintain its momentum, meme coins like Dogecoin and Big Eyes Coin are capturing the imagination of investors. Dogecoin’s philanthropic endeavours and widespread adoption demonstrate its potential for long-term viability. Meanwhile, Big Eyes Coin’s highly successful presale, community engagement, and the forthcoming integration with DeFi and gaming platforms signify its ambition to become a major player in the cryptocurrency space.

Big Eyes Coin (BIG)

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

Website: https://bigeyes.space/

Telegram: Telegram: Contact @BIGEYESOFFICIAL

Instagram: https://www.instagram.com/BigEyesCoin/

Twitter: https://twitter.com/BigEyesCoin

KARACHI: One in every 10 crypto investors in Pakistan prefers to receive or pay salaries in virtual currency, according to a survey conducted by KuCoin, a global cryptocurrency exchange.

Titled “Into the cryptoverse: understanding Pakistani crypto investors 2023,” the survey results released on Thursday showed there’s growing adoption and interest in digital assets in Pakistan — a potentially large market based on the Global Crypto Adoption Index by Chainalysis that ranked the country sixth in 2022.

Pakistani crypto investors are driven by diverse motivations like future aspirations (69 per cent), wealth accumulation (44pc), convenience (49pc) and value storage against currency depreciation (33pc).

The survey sheds light on different use cases for cryptocurrencies in Pakistan, with trading (46pc) being the most common. It was followed by HODLing (30pc), a practice that involves purchasing and holding cryptocurrency while refusing to sell it despite swings in price.

Other use cases include peer-to-peer money transfers (29pc) and buying non-fungible tokens (22pc), which are digital assets that are recorded on a blockchain and can only be transferred by the owner.

“This indicates the potential for mainstream adoption and the diverse ways in which crypto assets are being utilised in the country,” according to the commentary by KuCoin on the survey that was conducted by a third party on its behalf. The survey was conducted from May 5 to May 12 using SurveyMonkey Audience and involved 500 adult crypto investors.

Its demographics reveal that 66pc of crypto investors are male, with Gen Y (aged 26-39) being the largest age group of investors (47pc), followed by Gen Z (aged 18-25) with a share of 35pc.

The majority of crypto investors (66pc) have an annual household income of less than Rs5 million. Additionally, 30pc of new investors have begun investing in crypto within the past three months. “This suggests that as crypto adoption grows, a significant portion of crypto investors in Pakistan come from households with moderate to lower income levels, highlighting the accessibility and appeal of cryptos to a diverse range of income groups,” it noted.

A significant portion (40pc) of crypto investors in Pakistan have invested less than Rs30,000 or $100, the survey showed. “This is particularly evident among Gen Z (48pc) [as] it implies that a large number of investors, especially the younger generations, are starting with smaller investments, potentially due to limited financial resources or a cautious approach towards cryptocurrency,” it said.

The State Bank of Pakistan doesn’t recognise crypto assets, which are digital currencies in which transactions are verified and recorded by a decentralised system. Yet rough estimates by stakeholders suggest the annual trading volume of these digital assets in the country is somewhere between $18 billion to $25bn.

Published in Dawn, June 2nd, 2023