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With Bitcoin predicted to hit $100K by 2024 and Litecoin’s Halving Event in 2023 expected to catapult LTC’s value, the crypto market is bullish. Still, sharp investors recognise volatility with the current top cryptocurrencies.
Bitcoin and Litecoin have been scrutinised for extreme carbon emissions, limiting their scalability for mass use. Popular meme coins such as DOGE and SHIB can garner hype fast but are criticised for poor utility for mass adoption.
Early investors are entering the market before it goes bullish to be the first to identify a ‘stablecoin’ that solves the flaws of the old coins, which later investors will find out the hard way—eventually flocking to the emerging stablecoins on the market that are currently under the radar.
XRP: From Stability to Volatility
In 2012, Ripple Labs introduced XRP, becoming the first digital coin that was both low-cost and energy-efficient. XRP quickly established itself as a credible digital currency, securing partnerships with major financial players like American Express and Santander.
However, XRP’s centralised nature raised concerns among some investors. These concerns were further amplified when the SEC filed a lawsuit against Ripple Labs over XRP’s status as an unregistered security, resulting in Ripple selling off $336M worth of XRP tokens.
While some investors remain optimistic that XRP will recover once the lawsuit is resolved, others are searching for an alternative that offers all the benefits of XRP without its centralisation.
Stellar Lumens: A Stable but Vulnerable Cryptocurrency?
Released in 2014, Stellar Lumens (XLM) was staged to be a direct competitor to Ripple’s XRP, battling it out to become the best stablecoin with the fastest and lowest cost transactions on the market.
Unlike XRP, the Stellar Lumens community holds dominant ownership over the cryptocurrency—with a community vote in 2019 that led to reducing the Lumen supply to 50 billion with no more to be created.
Despite Stellar Lumens’ validity as a stablecoin, investors are still searching for more promising alternatives, reflected in the XLM price value that has dropped by 17% since April.
Big Eyes Coin: An Unmatched Stablecoin?
Big Eyes Coin (BIG) is still in its infancy as a meme coin in pre-launch. However, BIG has already raised $35.55m, and there’s an apparent reason. The coin uses the proof-of-stake (PoS) mechanism for super-fast transactions at meagre costs with little to no concerns about high carbon emissions when scaled for mass adoption.
BIG actively reduces its carbon footprint, unlike other cryptocurrencies. BIG achieves this by donating 5% of the total supply to ocean sanctuaries and other charities the community chooses. As the value of BIG rises, so does BIG’s charity wallet increase to help sustain the world. With BIG’s stable foundation, there will be a social platform and marketplace to use BIG to purchase and sell digital assets (NFTs).
Stablecoin Requirements Have Changed Post-2023
Stablecoins are in fierce competition, with the market flooded with coins that promise fast transactions at low cost and energy-efficient scalability. Big Eyes Coin stands out from the crowd through its active sustainable efforts. Therefore, investing and using BIG is to help make the planet more sustainable.
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Disclaimer: This content is not a part of NFTgators’ editorial content and is not an investment advice. Do your due diligence before making any decision.