Why the Cosmos Hub and Big Eyes Coin Show Strength During This Crypto Purge

Why the Cosmos Hub and Big Eyes Coin Show Strength During This Crypto Purge

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After the successful merger of the Ethereum network, the cryptocurrency market has undergone another purge. Buy the hype and sell the news, that was the story of the merger.

At least this is true for most of the cryptocurrency market. The Cosmos Hub (ATOM) and all connected projects on its network have shown the greatest strength in the market and were the only tokens to show weekly green numbers.

The ATOM token is down just 66% from its all-time high in 2021, while the Ethereum token (ETH) is down 71% from its all-time high. For a currency with a market cap of just over $4 billion, compared to Ethereum’s $160+ billion market cap, this is a truly astounding achievement during this cryptocurrency bear market.

Another token showing similar strength in this bear market is the presale meme coin token, Big Eyes Coin; this article will briefly explain why both projects are pumping at the moment and whether you should get some exposure to the tokens.

Cosmos Hub News

The ATOM token has been one of the most notable performers in this bear market and this strength has been reciprocated across the entire Cosmos ecosystem. Cosmos tokens like EVMOS have seen green weeks while the rest of the market has been doused in red.

The Cosmos Hub took a huge hit after the Terra Luna collapse. LUNA was the largest market cap Layer 1 on the Cosmos Hub and had a market cap much higher than ATOM itself. The market cap of UST, its algorithmic stablecoin, also grew to a market cap of over $10 billion.

The rise of Terra Luna has given developers tremendous confidence migrating to and building on the ATOM network. Despite LUNA’s eventual collapse, Cosmos has remained vigilant and can in no way be responsible for the devastating losses suffered by Terra Luna.

The ATOM ecosystem is quickly becoming allied to Ethereum-based tokens. The Cosmos Hub is built with interoperability in mind through its IBC-enabled network of blockchains.

If the Cosmos Hub and all connected systems become interoperable with Ethereum and ETH applications, then the Cosmos Hub and ATOM token will be one of the bigger winners in the next cryptocurrency bull market. It is this story that is currently pumping the ATOM ecosystem.

Big Eyes Offers Big Price In This Crypto Bear Market

It is admittedly difficult to presell successfully in a cryptocurrency bear market. Compared to the bull market, liquidity in even successful blue chip coins is extremely low. It is for this reason that even cryptocurrencies that are innovative with a strong roadmap may struggle to survive the bear market as there are no cash injections (rising token prices) in the market.

For this reason, it is particularly impressive that the Big Eyes Coin has already managed to raise more than $2.5 million. Despite bearish market sentiment and often falling prices, Big Eyes is still finding ways to raise money and this is most likely due to its strong roadmap.

Big Eyes Coin is essentially a meme coin built on the Ethereum blockchain. However, looking at the website one can understand the work going on during the pre-sale phases.

After the final stage of the pre-sale, the team will release their NFT collection, the art of which will be inspired by the image below.

The NFT market is starting to see increased transaction volume, which could indicate a revival in the NFT markets. The NFT market, like the general cryptocurrency market, has been negatively impacted by the bear market, but increased transaction volume bodes well for the Big Eyes Coin.

A successful NFT collection would dramatically increase the value of the currency. The success of the Bored Ape Yacht Club’s NFTs has shown that the success of a project’s NFT collection is indicative of the adoption and success of its original token. Big Eyes could follow in their footsteps.

If you want to research the project yourself, check out the links below:

Presale

Website

Telegram

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