With crypto winter looming on the crypto world like a bad dream, Ethereum (ETH) is one of the few remaining cryptocurrencies to struggle along.
At one point, ETH had a massive market capitalization of nearly $570 billion. ETH is now worth about $160 billion (a loss of about 72% of the total market capitalization). However, despite the bear market, the demand for the Ethereum blockchain remains strong due to the cost-effective and energy-efficient Proof of Stake consensus mechanism.
As more and more innovative cryptocurrencies such as XRP and big Adopting Ethereum Smart Contracts, Could This ‘Blockchain Inflation’? [be] Worth the Rise” as a white paper puts big eyes on? In turn, could the success of XRP and BIG finally help ETH break the annoying $1300 barrier?
Ethereum price remains at a solid $1,300 level after the merger
Created in 2015 by programmer Vitalik Buterin, Ethereum is a decentralized blockchain with smart contract functionality. One of the most profitable cryptocurrencies, second only to the giant Bitcoin (BTC), Ethereum recently moved its consensus mechanism from Proof of Work to Proof of Stake.
Proof of Stake speaks volumes for all crypto assets and platforms running on Ethereum smart contracts, as it lowers transaction speeds and costs. Effectively reduce energy consumption by an estimated 99%.
Arguably, due to Ethereum’s blockchain technology and its popularity as a blockchain for crypto-asset platforms, the price of Ethereum’s ETH token has remained flat in the past month. An achievement that is a huge challenge for both ETH and many other market-leading cryptocurrencies this crypto winter.
Ripple Boom After Starting Testing Ethereum-Based Smart Contracts
From September 17 to October 17, XRP jumped more than 25% on CoinMarketCap despite the current harsh economic situation. Absolutely never seen in a bear market, Ripple is an exciting XRP holder who may so far have given up all hope for the coin to rise again.
The original currency of Ripple, a currency exchange and money transfer network, is XRP. The token is mainly used for payment settlements, asset exchanges, and remittance systems.
On October 17, 2022, Ripple announced that it would begin testing the XRP ledger sidechain to be compatible with the Ethereum Smart Contract. What this means for both Ripple and Ethereum is that an increasing amount of interest and users can be created for both the Ripple and the Ethereum blockchain.
Big Eyes coin is setting a trend after raising $8,000,000 in just weeks
One of the meme coins built on the Ethereum blockchain is the cute Big Eyes Coin. Big Eyes Coin, which is currently crashing through its presale like nothing before during this crypto winter, aims to make Ethereum’s ‘Blockchain hype worth climbing’ for cryptocurrency beginners and professionals.
Having already raised over $8,000,000 and nearly completed its fifth stage of pre-sale, investors are rushing to buy BIG, the original token of Big Eyes Coin, before the token price rises by 25% for stage 6. Demand for BIG is engulfing Internet by storm as BIG presale could jump $500,000 in one day.
Big Eyes Coin is based on a mascot cat who needs to save the oceans so that she can keep eating fish. To complete this goal, a 5% dedicated charitable portfolio will be used to make donations to ocean reserves. This impulse has clearly touched some strings with crypto enthusiasts as Big Eyes Coin amassed over 50,000 followers on Twitter and it doesn’t look like it’s going to stop any time soon.
Could Big Eyes Coin and Ripple Boost Ethereum Price?
With the continued success of Big Eyes Coin and Ripple, it is possible that investment in ETH will increase if people see the efficiency and effectiveness of the functions of Big Eyes Coin and Ripple. Especially if the Big Eyes Coin explodes (as the presale is expected), a new interest in energy efficiency, environmental conservation, and the use of the Ethereum Blockchain will emerge.
For more information about the Big Eyes Coin project:
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