SEC has been on a wild hunt for centralised exchanges ever since the FTX collapse. Since late 2021, SEC has targeted numerous cryptocurrency exchanges including big names like Binance and Coinbase. Centralised exchanges have been the backbone of the cryptocurrency market for years. They offer an easy-to-use platform for traders to buy, sell and store their digital assets.
However, the recent scrutiny from the SEC has rattled many of these exchanges and has raised concerns amongst the cryptocurrency community about the potential flaws and dangers of these institutions. One of the key themes behind the SEC attack circles the fact that these exchanges offered futures contracts without registering as futures commission merchants. Meanwhile, the cryptocurrency market seems unfazed by the recent SEC crackdown.
Certain top altcoins like Big Eyes Coin and Cardano are returning huge ROI. BIG recently had a massive presale raising over 33 million and is on a giveaway frenzy with its latest 250% bonus offer, while Cardano and Solana rose over 50% YTD.
Big Eyes Coin – Worth All The Purr?
Big Eyes Coin is an Ethereum-based meme token that is receiving massive hype from the crypto world.
BIG made it to the headlines after hosting one of the largest presale events in recent crypto history raising almost $ 33 million of the $50 million goal. Although Big Eyes Coin is a meme currency with a cute kitty theme, investors are drawn more toward its outstanding user features and potential for huge returns.
Big eyes Coin tokenomics also appeals to its investors. There are 200 billion BIG tokens in total supply for Big Eyes Coin. According to the BIG team, a pre-sale will be held for 70% of these, 20% will go to cryptocurrency exchanges, 5% will be used for marketing, and 5% of the overall supply will be kept in a visible charity wallet. Transparency and community lie at the heart of the Big Eyes Coin, as the community will own the currency and make all decisions about it.
Additionally, there are some fantastic incentives to buy, such as regular deals, awards, and competitions, as well as no tax and no fees. Recently, Big Eyes Coin made headway by launching an exciting 250% bonus for its early investors. With the secret coupon code “BULLRUN250”, users can avail of the limited-time offer.
Cardano – A Sleeping Giant?
Around 70% of Cardano’s (ADA) ADA coins have been committed for network validation. When compared to Ethereum, where 5% of the entire supply is designated for validators, although far more ETH is reserved for DeFi apps, the blockchain of ADA’s coin has less decentralised applications (dApps), which may contribute to the cryptocurrency’s high stakes.
In 2015, the Cardano project was launched to address some of the issues Ethereum was having with its Proof-of-Work consensus methodology. Cardano has made some significant strides since then, including the ability to easily expand its network in the future, proof of stake consensus, and various processing levels for calculations and settlements.
With solid foundations and significant momentum, Cardano is without a doubt one of the more promising blockchain projects available today.
Solana – Invest In Speed
In contrast to many other well-known blockchains that run on proof-of-work (PoW) or proof-of-stake (PoS) consensus methods, Solana (SOL) was one of the first to adopt a proof-of-history (PoH) algorithm. This enables the blockchain to function swiftly while staying secure and decentralised.
It was established in 2017 by Greg Fitzgerald and Anatoly Yakovenko, a former software developer for Dropbox (DBX) and a former employee of Qualcomm (QCOMM).
The primary objective of Solana’s open-source project was to develop a brand-new, highly effective, permissionless blockchain. Solana blockchain can execute 2,000 transactions per second because of its PoH algorithm, making it a rival of Ethereum (ETH), the second-largest cryptocurrency by market capitalization.
With the collapse of the FTX cryptocurrency exchange in November 2022, Solana’s SOL coin had a more than 50% loss in value but has since managed to stage a modest recovery, rising from $8.39 on 29 December to a high of $26.93 on 20 February 2023.
Before we conclude, let’s go back to the original question of SEC scrutiny and understand how centralised exchanges are dealing with it.
Is The SEC Trying To Kill Centralised Exchanges?
Well, the CEO of Coinbase, Brian Armstrong, has publicly stated that he believes the SEC is trying to kill existing centralised exchanges. He argues that the SEC’s actions will harm innovation in the cryptocurrency industry and stifle the growth of the market.
For those looking to stay informed about the cryptocurrency market and regulations that could come in, it is important to keep up with the latest news and developments. The cryptocurrency market is still somewhat in its early stages, and there is a lot of uncertainty about its future. However, by staying informed and educated, users can make informed decisions about their investments and protect themselves from potential risks.
Find out more about Big Eyes Coin (BIG):
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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