Solana (SOL) and Monero (XMR) were once the talk of the town in crypto communities, with their impressive features that went unmatched. In a year or so, SOL soared to 17,000% in price while XMR grew 2,000% between 2020-2021.
What caused SOL and XMR astronomical rises and gradual declines? Could they bounce back or will a plucky meme coin known as Big Eyes Coin (BIG) snatch up investor attention by having the solutions to many crypto’s problems?
Solana’s centrality concerns
Released in 2020 by ex-Qualcomm employees Anatoly Yakovenko and Raj Gokal, Solana was a new-and-improved blockchain platform to Ethereum, providing lower transaction fees and higher transaction throughput, all whilst being a scalable network by becoming one of the first to adopt the energy-efficient, Proof-of-Service (PoS) mechanism.
Competition came with new networks such as Cardano (ADA) and Avalanche (AVAX). Still, none managed to achieve the transaction performance of SOL with its impressive high throughput of 720,000 TPS!
Despite SOL’s power as a blockchain network, its hay days of 2021 could be over after a series of controversies plague its central owner Solana Labs including the FTX bankruptcy and SEC lawsuit.
Solana Lab’s downfall could leave SOL sinking ship with its company. Therefore, investors are concerned by SOL’s centrality, since lawsuits and bankruptcy can target its corporate owner—unlike decentralised finance, where ownership is anonymous and shared in a multitude.
Monero’s efficiency setback
Unlike Solana, Monero (XMR) is all about decentralised cryptocurrency that’s at the heart of privacy and security. Monero launched in 2014 with a simple goal, to give users the ability to fully conceal their identity when making transactions, which Bitcoin (BTC) failed to achieve.
XMR delivered advanced cryptography that gave users the ability to conceal or share personal and transactional information. XMR is also fully decentralised with 30 developers and no central power holding and controlling the bulk of XMR—the power is fully in the community’s hands.
Monero started running into problems in late 2021 when emergence of Proof-of-Stake (PoS) cryptocurrencies arrived that rivalled XMR’s Proof-of-Work (PoW) mechanism. PoS cryptos were far superior in scalability as they boasted greater energy efficiency and faster transactions at lower-cost fees.
A PoS crypto delivering Monero levels of privacy and decentralisation is Big Eyes Coin, a meme coin powered by the new-and-improved Ethereum network.
Big Eyes Coin: decentralised and efficient
While Solana was once a new-and-improved Ethereum network, ironically, Ethereum (ETH) is stealing the limelight from Solana since its upgrading to become more efficient and hasn’t been faced with the same levels of controversies Solana has.
Ethereum has been birthing successful meme coins such as PepeCoin (PEPE) and Floki Inu (FLOKI). Still, an even more exciting Ethereum-based meme coin is ready to be released that promises real utility for mass adoption—Big Eyes Coin.
Big Eyes Coin (BIG) is entirely decentralised, with 80% of BIG tokens being held by the community on launch day. The community governs the direction of BIG and has a say in the charities to support with BIG’s charity wallet.
Since BIG utilises the PoS mechanism, transactions will be energy efficient, fast, and with low-cost fees. Big Eyes Coin aims to bring inherent value to BIG tokens by launching a casino on August 29th, 2023, with over 4,000 casino games and numerous P2E games. With the ability to earn BIG through games and spend them at NFT marketplaces, BIG wants to build a 24-hour trading volume that’s unheard of with meme coins, making BIG a super contender for the top spot in the meme coin leaderboard.
Ethereum-based Coins still leading the Meme Coin Market
With all the competing blockchain networks in the market, Ethereum remains the leading blockchain network that hosts the most cryptocurrencies. Ethereum will continue to improve its network, which will raise its chances for mass adoption.
One meme coin is set to benefit from Ethereum’s mass adoption, and Big Eyes Coin is positioned for that success with its ecosystem, trading volume goals, and overall utility.
Since BIG has not launched yet, early investors are scooping up BIG in its presale using the limited-time-only offer to buy BIG tokens at the stage 3 price of $0.00017.
Find out more about Big Eyes Coin (BIG):
WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost
AVISO IMPORTANTE: La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido