New Delhi [India], April 18 (ANI/ATK): All eyes are on Ethereum as it gears up for the Shanghai Upgrade. But how exactly is it significant and what impact could it have on the Coin itself? If the biggest Alt Coin is undergoing these changes, it impacts the rest of the Alt Market too. Here’s why now is the best time to invest in Binance, and the brand new Big Eyes Coin, which is ending its presale after one last opportunity for its users. Read on to know more.
What does the Shanghai Upgrade mean for Ethereum?
The much-awaited hard fork, Shanghai Upgrade is significant for Ethereum (ETH) because of two important reasons. Firstly, it marks the end of the two-year transaction process from Proof of Work to Proof of Stake mechanism. The latter is considered to be more energy-efficient, wherein validators are randomly selected for verifying transactions, instead of having to compete for the same.
Secondly, after the fork is implemented, users will be allowed to withdraw Ether that they have staked since the launch of the Beacon Chain, back in December 2020. Some investors are concerned that this may cause selling pressure on the ETH Market, as those who have not been able to sell their staked Ether may offload their holdings on the market.
Apart from this, five different Ethereum Improvement Proposals (EIPs) will also be implemented in the Upgrade, which will improve efficiency of the transactions and decrease gas fees for decentralized apps on the Ethereum network. The upgrade also includes multiple consensus-layer changes, which are part of an upgrade called Capella. This is why ethereum developers are referring to the Upgrade event as “Shapella”.
Binance gains Bullish Traction
The largest cryptocurrency based on trading volume, Binance (BNB) has recently shown a bullish trend. A 24-hour analysis of the charts indicated mostly bullish runs, with the support levels crossing the USD 318 mark. If this trend continues to pick up momentum, the support levels could reach a new high.
Big Eyes Coin gears up for Launch
The upcoming memecoin, Big Eyes Coin (BIG), has already caught the attention of the market, having had a successful presale that collected an impressive USD 33.5 million. Approaching the launch, the coin has announced the end of their presale, June 3rd, but not before users can avail one the benefits of their user-centric scheme one last time.
BIG has not been devoid of benefits, whether it is the fact that all their transactions are exempt from buying and selling tax, or the 2-year liquidity lock on 80 per cent of its supply, released on launch day. They are also not devoid of goodwill: 5 per cent of their earnings go to a charity wallet that supports organizations that help clean and preserve oceans.
But perhaps the most enticing of their schemes are Lootboxes, that users can purchase to win rewards that are always worth (at the very least) the price of the Lootbox itself, meaning that a gain is almost always assured. These were recently accompanied by a card collection that can be minted as NFTs.
However, ahead of the launch and as one last chance for users to win, Big Eyes is allowing its community to win a 300 per cent bonus on purchase of BIG or Lootboxes. This is their way of giving back to the community, and an opportunity that must not be missed.
All users need to do is use the code END300.
The Shanghai Upgrade is meant to make transactions on the Ethereum Network to a more efficient and energy-saving level. However, investors are concerned about the selling pressure it can cause in the Ethereum market. Binance has shown bullish trends based on 24-hour readings, however, for it to make significant surges, it needs to keep up this momentum. Meanwhile, the upcoming Meme coin Big Eyes is gearing for its launch, and given its track record, it is meant to make strides in the market. With its innovative approach and the intent to give back to its community, this is a coin that must not be overlooked.
Find out more about Big Eyes Coin (BIG):
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