It’s the time of the year for campfire stories, horror movies, and Halloween costumes. However, very real frights could be in store for some cryptocurrencies, as the shifting sands of the blockchain market can be a terrifying place even for the most seasoned veteran of crypto speculation.
Three currencies with surprises in store in this spooky season are Big Eyes Coin (BIG), Ethereum (ETH), and Ripple (XRP).
Read on to find out what holders should be scared about at the ghostliest time of the year.
Ethereum: Bad Omens this October
While the global stock markets have generally spiralled in value over the past couple of years, even crypto giant Ethereum hasn’t been able to weather the storm. The coin is down 72% from its historic high last year.
This is despite the implementation of Ethereum 2.0, commonly known as the Merge. On September 15 this year, the Ethereum (ETH) Blockchain’s consensus layer was merged with its execution layer. By most accounts this was a positive step for the Ethereum (ETH) ecosystem, allowing for a transition from proof-of-work transactions to the more efficient proof-of-stake method. The network claims that this maneuvre has reduced Ethereum’s energy consumption by more than 99%.
However, these efforts seem to have been in vain: after the Merge, Ethereum (ETH) has tanked again, its total value losing a further 22%.
These nerve-wracking developments won’t be of much comfort to long-term holders of Ethereum (ETH): perhaps next year will hold brighter news for Ethereum (ETH) as its technological advancements settle and are adopted fully.
Big Eyes Coin: Fear of Missing Out
One coin that has not had much to fear this month has been the radical meme coin, Big Eyes Coin (BIG). Instead, it has given onlookers something to fear as we draw closer to All Hallows’ Eve.
That fear would be the blood-curdling one of missing out on a massive presale. Surprising analysts and casual observers alike, the unlikely Big Eyes Coin (BIG) has raised a stunning $7.92M in its ongoing presale phase.
Contrary to the other coins discussed in this article, it is success that has spooked the market here, rather than failure. If there’s one thing that cryptocurrency speculators fear, it’s missing out on the next big thing.
With their October-themed promotional event, Big Eyes Coin (BIG) is declaring that Purranormal Activity has been detected. No doubt this is helping the increasingly fast-selling coin shoot up the charts towards a record-breaking presale.
To avoid a fright this year, check out Big Eyes Coin (BIG) for a treat, rather than a trick.
Ripple: A Bone-Chilling Autumn
The long-suffering Ripple (XRP) has offered the cryptocurrency world an ongoing nightmare that’s now unfolding with horrible implications.
In 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple (XRP) and many of its executive officers, accusing them of selling unregistered securities. Two gruelling years have passed since this accusation was levied, but only now is the case hinting that it may be closer to resolution: in September this year, Ripple (XRP) and the SEC submitted requests for summary judgment, meaning proceedings will begin to draw to a close and the outcome of the case will finally be known.
October this year, therefore, is a month where many crypto enthusiasts, particularly those hanging onto hope for Ripple (XRP)’s future, will be holding their breath as closely as they hold their tokens.
Several of the key dates in the case are slated for October this year, and it’s no exaggeration to say that any of these dates could determine the future of Ripple (XRP) as a token. If the verdict does not go the way of Ripple’s executive team, the token will surely flatline, and will fail to be relisted on many of the exchanges that have halted it or delisted it.
There’s much to fear if you’re a cryptocurrency fanatic – many tokens are down and have been so for long enough that it’s hard to remember when everything was peachy in this new economy.
However, the current marketplace isn’t without its bright points, and when these opportunities present themselves, it’s wise to seize hold of them with both hands. With the case of Big Eyes Coin (BIG), the numbers tell us that one of these rare opportunities has shown itself.
If you want to catch this wave early, Big Eyes are currently offering bonus tokens at checkout by using the code: BEYES472