The newest entrant in the crypto world has already stolen the limelight by raising more than $20 million in Stage 10 of its presales due to a boisterous interest.
The development has seen different news outlets discussing the promise exhibited by the BIG and how it will reshape the crypto world in the times to come.
Big Eyes Coin is a prime example of innovation and that’s why it has been making rounds in the crypto digital media world.
Volatility Defines Crypto World
Like other leading cryptocurrencies, BIG has also been discussed for its volatility, but how does it compare to other top players like Bitcoin, Ethereum, and Litecoin?
Volatility is a measure of how much the price of an asset changes over time. In the world of cryptocurrency, high volatility is both a blessing and a curse. On one hand, it can lead to large price swings, which can result in big profits for investors who make the right trades. On the other hand, it can also result in big losses, making it a risky investment.
BIG: Volatility Comparison with Others
Comparing the volatility of BIG to other leading cryptocurrencies, we can see that Big Eyes Coin is indeed a more volatile asset. In the past year, the price of BIG has fluctuated much more than the price of Bitcoin, Ethereum, and Litecoin. This higher volatility has made BIG a popular choice for day traders who are looking to make quick profits, but it also means that there is a higher risk for investors who hold Big Eyes Coin for the long term.
Higher volatility can offer opportunities for short-term profits, and it has already been witnessed during the initial phases of BIG’s presales. The increased interest and activity in the BIG by short-term investors and traders have put it in the limelight and provided the much-needed hype.
BIG: Market Capitalization Factor
Another important factor to consider is the overall market capitalization of Big Eyes Coin compared to other leading cryptocurrencies. The BIG has a market capitalization of around $10 billion, compared to Bitcoin’s market capitalization of over $1 trillion. This difference in market capitalization has a big impact on the volatility of BIG, as it is a smaller asset that is more susceptible to price swings.
Market capitalization is the total value of all outstanding shares of a company or, in the case of cryptocurrency, the total value of all coins in circulation. It is calculated by multiplying the current market price of a coin by its circulating supply.
Bigger assets have more liquidity, meaning that there are enough buyers and sellers, a factor that makes it tougher for a smaller number of traders to affect the price of the asset. It also reduces any threats of larger price swings and hence enables a more stable market environment due to higher liquidity.
In conclusion, the market capitalization of an asset plays a role in its volatility. Big Eyes Coin’s smaller market capitalization makes it more susceptible to price swings, which increases its overall volatility compared to other leading cryptocurrencies.
Still Early Days for Big Eyes Coin
Big Eyes Coin’s volatility is indeed higher compared to other leading cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.
This higher volatility can be attractive to day traders looking to make quick profits.
Big Eyes Coin is one of its kind when it comes to cryptocurrency since it’s a cat-themed meme coin. As more and more meme coins flood the market, it’s worth taking a closer look at the trend and what sets Big Eyes Coin apart from the rest.
Find out more about Big Eyes Coin (BIG):
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.