In many ways, Ethereum (ETH) is the backbone of crypto as a whole. While Bitcoin (BTC) sits at top of the market as the first and biggest cryptocurrency, any changes that happen with Bitcoin naturally affect the rest of the market; but Ethereum's effects debatably reach even further. As the biggest Blockchain Network on the market, it hosts virtually all other coins on the market and is the source of every single protocol that has come since, such as Polygon (MATIC) and Solana (SOL). Holding this title means that Ethereum does more than just add value to the market, it plays a huge role in how investors trade and sell and how they'll do that in the future. With that in mind, the much-awaited Shanghai Update is closer than ever with February coming to an end. What effect will that have on Ethereum and other coins in the market? On top of that, what is the latest going on with the biggest presale crypto has seen in a while?
The Shanghai Update to Ethereum will be the biggest the network has had in two years, which has had the whole community building more than a fair bit of excitement for its arrival. The update will allow holders to withdraw their staked ether, an action that will further propel the move towards liquid staking and from DeFi lending. Liquid staking allows stakers to earn rewards on their crypto by locking it within a blockchain network without losing its liquidity. As a part of the market, the value of liquid staking has grown by 60% already this year with no signs of slowing down. The update is expected to strengthen ethers position and create healthy competition between liquid staking solutions, according to Messari CEO Ryan Selkis.
The value of Ethereum is of course expected to rise in response to this, but altcoins are expected to benefit the most from this. Especially Lido DAO (LDO), one of the biggest liquid staking solutions currently on the market. Directly related to Ether, it allows users to stake the token without locking it, while still being able to take part in on-chain activities. In the lead-up to the update's release, Lido, which is ranked 28 among the top crypto by market cap, saw its price rise by 13% in the space of 24 hours. As a whole, it has been up 11% across 7 days. This is the highest point Lido's native token has reached since the summer of last year, so if the update goes off to a success in March, we could very well see Lido make a return to form.
These changes aren't the only big thing going on in crypto right now, though. This all happens as Big Eyes Coin (BIG) comes closer to the end of its presale. The much-anticipated meme coin has been making a name for itself after becoming the biggest presale in recent years, a title it has retained after continuously outdoing itself. It's building an image for itself as a stable altcoin that combats market volatility, which is much needed after a tough 2022.
The amount raised is currently over $30 million in its 12th stage, a number that far exceeds the competition. There are many explanations for why this project has been so successful, from its lucrative tokenomics to the fun incentives it has planned for the future, but one of the biggest reasons for this is the developer's gratitude to the community with proven generosity. There have been multiple offer codes in the history of Big Eyes that buyers have benefited from, with the final one offering a 200% bonus with your purchase. But even though they're all long gone, there are now even bigger offers for investors to earn rewards.
They have just got done running one exciting competition but the other one has only just started, so it would be a shame to miss out on it. The first was a tattoo competition, where 10 lucky people had the opportunity to win $1000 worth of BIG. All they had to do was get a tattoo of select Big Eyes-related templates and prove it with a video of the process on Twitter.
This was a risky competition to run as not just anyone would get a tattoo, especially not of a crypto of all things. But against all odds, in the space of fewer than 2 weeks, 10 Big Eyes buyers actually did get the tattoo and won their prizes. On the side of the team, the competition was a fun way to find out how dedicated their community is; while on the side of the buyers, this was the biggest demonstration of their bullish outlook on the project. For onlookers, this would only further prove that the support for Big Eyes is genuine.
The latest move is a less physical challenge, but it's just as fun with even bigger potential to profit. Big Eyes' new loot boxes are a real game changer for buyers as they now have the chance to make a return of 5000%, just by spending up to $1000 to win up to $100,000 worth of the token. Even spending as little as $100 can win you $5000! The great thing about the look boxes is that no matter what, you'll always win something valuable. There are only so many loot boxes to go around, so if Big Eyes interests you and you would like to get involved, now is the time.
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
Twitter: https://twitter.com/BigEyesCoin
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