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A new meme coin that is still in its presale, Big Eyes Coin, has completed more than ten stages of funding and has attracted $27.18 million in funding. Anyone who buys the crypto gains access to a variety of community benefits: Some of them are access to a Sushi crew, regular airdrops of NFTs, and a superstore where Big Eyes members can buy premium items.
According to its whitepaper, Big Eyes Coin is motivated by an eco-friendly purpose. The meme coin was made to raise funds and awareness to revive the health of the oceans. 5% of all tokens will be stored in a charity wallet for a donation towards organizations like Orca Network, Fundlife International, and Seashepherd.
5% will be allocated towards marketing, 20% will be sold on exchanges, and 70% will be distributed during the presale.
There is a limited number of days before Big Eyes Promo Code "LAUNCHBIGEYES200" ends for good, so make sure not to miss out on this opportunity. The promo code, if used, offers new Big Eyes Coin members an additional 200% in Big Eyes tokens in addition to their original purchase.
On Tuesday, The U.S. Bureau of Labor Statistics just released its Consumer Price Index report for the month of January. Inflation was fixed at 6.4%, overshooting expectations of 6.2%.
Bitcoin and Ethereum didn't react to this report, but other cryptocurrencies rose by a small margin. DogeCoin and Cardano went up by 0.1% and 1.7% on the same day. The S&P 500 went slightly upwards as well by 0.04%.
January's inflation is part of a longer trend, where inflation peaked at 9.1% in June, a high not seen in 41 years. Ever since, inflation has been receding, a positive sign that the rate hikes are working, indicative of an economy healing itself.
The majority of inflation in January came from price increases in food, gasoline, and shelter, accounting for nearly half of the total CPI figure.
To curb inflation, the federal reserve has been closely monitoring changes in consumer prices to gauge the effectiveness of its rate hikes. Its goal is to bring inflation down to a target level of 2%, and it has instituted multiple rate hikes to accomplish this.
As the situation stands, members of the federal reserve have unanimously voted to increase the federal funds rate to a level of 4.5% – 4.75%. This will be the country's 8th rate hike, a long way from when it first brought rates from 0 in March.
In times of recession, investors tend to favor bonds over cryptocurrencies. The yield curve – a famous indicator of returns over bonds and stocks – becomes inverted, causing longer-term maturities, usually government bonds, to become more safe investments.
This could be another reason for investors shying away from cryptocurrencies, apart from the fact that it is a volatile asset class.
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
