Cryptocurrencies have been leading a wave of change throughout the financial services industry with a slew of features that have an edge over traditional investment options. There’s limited intervention from third-party institutions like banks and brokerage firms to enable lower transaction fees. Next, a greater degree of data privacy is another factor that has won over investors. Lastly, with the way these blockchain-based assets have been posting sustained results, they are drawing more investors and making them believe in cryptocurrencies’ potential. Not to forget, investors also get a variety of options to invest in – be it regular cryptocurrencies or meme coins. Meme coins are cryptocurrencies that are modeled by memes and their popularity on social media. Over time, meme coins have also developed to have more practical use cases.
If you are new to cryptocurrencies and are wondering if meme coins are worth the hype, an ideal way to start your journey is to research. You can research some of the leading names like Big Eyes (BIG), Shiba Inu (SHIB), and Litecoin (LTC) and then make a decision.
Big Eyes: A meme coin with grand plans for the DeFi ecosystem
Big Eyes is among the most-talked-about upcoming meme coins that have been gaining traction at the back of its niche features. It has been rolled out to enable more users to switch to the DeFi ecosystem and explore the opportunities it has to offer. As a community token, Big Eyes is among the most versatile names in the meme coin universe that can be quite useful for wealth generation. It also has a native token BIG that can be used for staking, token swapping, paying fees, liquidity pool provisioning, and other use cases on the platform. The token will also be available for users on presale. Its token supply is capped at 200,000,000,000 units and a whopping 90% of the supply will be dedicated to presale.
The platform is being handled by a team of experts that are working actively to ensure hassle-free user experiences and smooth daily operations. The team is led by TopCat or PawZilla, while TechCat or CatNipper looks after the technical side of things. HypeCat or Hypurrr and LawCat or CatsEyes handle issues related to token and legal matters respectively. Last but not the least, OpCats – TenPaws and CatSuit – handle the daily operations of the platform.
As part of its efforts to spread the word about the platform, the team has plans to team up with social media influencers and leverage Big Eyes’ innovation to draw more users. The platform also has a policy of incentivizing participation. The higher the level of participation, the more will be rewards earned by a user. These rewards will be in terms of tokens and NFTs.
As far as NFTs go, Big Eyes has a robust mechanism in place which makes for a secure marketplace for these digital assets. It will hold NFT events regularly and any profits that it earns from these events will be first put to a ‘burn or not to burn’ vote. However, users should know that it levies a 10% tax on proceeds from NFT trades. Of the tax proceeds, 5% is set aside for token holders, 4% for the original sellers, and 1% for Big Eyes’ charity donations. The platform also sets aside 5% of the total token supply for charitable causes and these donations are visible to users – all thanks to the charity wallet.
As part of its efforts to liberalize access to DeFi solutions, Big Eyes has several in-built features that will help its users gain more knowledge about the ecosystem. From features like Big Eyes Swap to next-generation backend systems, tutorials, and how-to guides, users can look forward to a simplified and hassle-free learning process.
Shiba Inu ends the week with a 20% surge in price
Although still relatively new to the ecosystem, Shiba Inu is already one of the most successful meme coins. Its founder Ryoshi envisaged and developed it as a decentralized meme token that has steadily evolved into a thriving ecosystem. It has a native token, SHIB, that can be used for staking, token swapping, and earning rewards, among other transactional uses. Today, the meme coin token has more than 585,000 patrons across the world. The platform is built on Ethereum and the founding team chose the blockchain system for its security and versatility. The team wanted a blockchain system that could help Shiba Inu evolve with time without being impacted by regulations. While the platform was launched with an initial supply of 1 quadrillion, 50% of the tokens were locked in Uniswap and the remaining were sent to Ethereum co-founder Vitalik Buterin’s wallet for safekeeping.
The success of SHIB inspired the platform to launch two other tokens — Leash (LEASH) and Bone (BONE). Shiba Inu has its cryptocurrency exchange ShibaSwap wherein users can trade SHIB, BONE and LEASH, and other tokens with ease and at affordable rates. The exchange was built to provide investors with a secure mechanism to trade cryptocurrencies while staying decentralized.
What reinforces the platform’s strength is its solid technical design, unique tokenomics, seamless technical implementation, and the social media popularity of its memes. A distinct factor of the platform is its policy of incentivized participation wherein community members are rewarded for contributing to the liquidity pool and staking tokens. Users who are part of the SHIB Pool can look forward to acquiring more native tokens; 3% of all BONE per Block are minted and then distributed among SHIB Token holders.
In the week ending on August 18, 2022, Shiba Inu’s SHIB Token was among the Top 3 most profitable cryptocurrencies in the world after it ended the week with a 20% surge in its price. The other two cryptocurrencies to make the cut were Ankr and Chiliz.
Litecoin reaches 148 million unique addresses
Litecoin is a cryptocurrency that facilitates seamless cross-border payments that can be mined by leveraging consumer-grade hardware. It has a native coin LTC that can be used to meet any transactional purposes on the platform including staking, token swapping, paying fees, and earning rewards.
Apart from being secure and seamless, the DeFi payments service is also a low-cost alternative to other options. Rolled out in 2011, Litecoin’s blockchain system is the largest scrypt-based network in the world that has been working with almost 100% uptime since its launch. To get started, users don’t have to complete several formalities. They can start using Litecoin simply by downloading its free wallet.
Experts too have talked at length about the platform that is bolstered by immutable technologies. Litecoin leverages pioneering technologies like Atomic Swaps for multi-chain trading and Lightning for quick settlement of funds internationally.
As far as businesses go, Litecoin can help them drive global impact with its DeFi solutions that empower both enterprises and customers across levels. It helps them transact without depending on third-party intermediaries, which leads to lower fees and quick transfer times. Its point-of-sale solution ‘CoinGate’ is a merchant payments gateway that supports a wide array of cryptocurrencies like Ethereum, Bitcoin, Ether, and Litecoin. Users can receive payments into their bank account without having to deal with the risk of fluctuations in exchange rates and even withdraw digital currencies by paying a flat fee of 1%. Plus, a host of integrated tools like shopping cart plug-ins, application programming interfaces, and payment buttons can meet any business need for any kind of business – be it a retail store or an e-commerce merchant.
In a recent development, Litecoin clocked 148 million unique addresses on its platform on August 17, 2022 –which is closely behind Ethereum. For most of the last decade, it has been touted as the third-largest cryptocurrency in the world in terms of market capitalization.
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