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Ethereum (ETH) is undoubtedly one of the leading blockchains in the blockchain industry. The crypto giant is host to over 2,700 dApps and now harnesses the power to scale efficiently by utilising a Proof-of-Stake (PoS) consensus algorithm. Ethereum switched consensuses in September, lowering its carbon footprint while heightening its performance.
Experts predicted that the price of Ethereum would skyrocket after the merge, but it didn’t alter much. Now, Ethereum has recorded an eye-watering 18% increase in seven days at the time of writing! Could this be the work of the merge? This editorial piece will examine Ethereum’s price increase and two other cryptocurrencies built on its network, Shiba Inu (SHIB) and Big Eyes Coin (BIG).
Big Eyes Coin Is About To Hit $9 Million!
Big Eyes Coin is in the sixth stage of its highly anticipated presale, raising $8.93 million at the time of writing. The new meme token builds on the Ethereum blockchain, harnessing its new and improved technology. So, what does the Big Eyes Coin ecosystem entail?
Big Eyes Coin is committed to being a community-centric token, allowing its users to hold 70% of BIG through the presale. The remaining BIG tokens will fund the marketing wallet, the charity wallet, and exchanges. Big Eyes Coin will launch on the Uniswap (UNI) exchange during the second stage of its roadmap.
The charity wallet will hold 5% of BIG tokens in circulation, with additional funds from tax fees on NFTs. The tokens will go directly to ocean conservation sanctuaries to stop plastic pollution, overfishing, and many other threats to marine life. Experts predict that marine life could go extinct by 2300, and Big Eyes Coin looks to change that.
Is Shiba Inu Due A Price Rally In Q4?
Like other meme tokens, Shiba Inu has fallen victim to price volatility since its inception. From its launch price to November 2021, Shiba Inu increased its value by a shocking 48,000,000%, making some people millionaires in months.
However, some experts predict that something similar will happen to Shiba Inu in the coming months as Uptober takes effect. Recently, Ethereum whales started accumulating SHIB, even holding their tokens after Shiba Inu dropped below the support level.
Additionally, Shiba Inu’s burn rate spiked by 1,800%, leading to 23.3 million Shiba Inu tokens vanishing. Token burns generally decrease the supply in circulation while increasing the value. Shiba Inu has recorded a 6.88% increase in twenty-four hours at the time of writing. Will this lead to a price rally for the meme token?
Ethereum’s New Technology Could Be The Driving Force Behind Value Surge
As mentioned above, over 2,700 dApps build on the Ethereum blockchain. Hosting this many dApps comes with its own set of problems. The Ethereum blockchain has to be fast, secure, and easy to use. By swapping its outdated Proof-of-Work (PoW) consensus for PoS, Ethereum could scale effectively while increasing the security of the blockchain.
So, has Ethereum’s value surged due to its upgraded technology streamlining its services? It is possible. Not only has Ethereum’s technology improved, but its environmental impact has also, with Ethereum’s carbon footprint falling by over 99%.
However, Ethereum’s surge in value could have also begun due to the Autumn period, the season when cryptocurrencies often perform at their best. Bitcoin (BTC) reached its all-time high in Autumn 2021, rising to $68,000! Ethereum has increased its market capitalisation by 18.23% in seven days at the time of writing. Will the same that happened for Bitcoin happen to Ethereum?
Final Thoughts
Ethereum’s surge in value could be the work of the merge or the Autumn season. Either way, it is positive news for the blockchain giant and those cryptocurrencies built on it. With Shiba Inu potentially undergoing a price rally and Big Eyes Coin almost reaching $9 million in its presale, it has been a good day for crypto.
Big Eyes Coin offers bonus tokens with each presale purchase on the Big Eyes Coin platform. To obtain a 5% bonus on your order, use the code ‘BEYES194’ at the checkout!
For more information on Big Eyes Coin (BIG), please visit the following links:
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
*This article has been paid. The Cryptonomist didn’t write the article nor has tested the platform.
Source: https://en.cryptonomist.ch/2022/11/01/big-eyes-coin-host-blockchain-surges-value/