Crypto adoption rate has skyrocketed over the years since its mainstream entrance in 2011. The introduction of mindblowing innovations like the Metaverse, NFTs, lending and borrowing, etc. —all backed by cryptocurrencies—have contributed to crypto’s rising interest.
Also, crypto offers a better, seamless, and faster transaction model than fiat. For instance, you could carry out transactions in a lesser time frame than fiat. You can also perform bank-related activities such as savings and lending and borrowing faster and easier with crypto. Crypto also has higher yield potential than fiat-related assets and protocols.
However, there are negatives on crypto that have raised questions in the economic world—questions that Federal Reserve Vice Chair for Supervision, Michael Barr, believes could make cryptocurrency unlikely to replace fiat.
In this article, we’ll see some breakout cryptocurrencies like Big Eyes Coin and Toncoin that could offer better offerings than fiat-related transactions. Hence, likely proving Fed’s Barr wrong this time.
Could Crypto Really Replace Fiat?
Earlier in this article, we highlighted some areas crypto has outperformed fiat which has caused growing interest from businesses and individuals from across the world. However, we did not highlight some of the downsides that have raised questions about the asset.
Banks and the government are pushing desperately to control cryptocurrencies because it could drastically affect their sovereignty in controlling the economic and financial sectors of the economy. Some smart banks are already monitoring and experimenting with cryptocurrency for future reasons.
Also, crypto is widely feared due to its high volatility compared to forex markets where there are just slight price differences (though representing huge fortunes on a broader scale). Crypto has all it takes to replace fiat. The concerns about cryptocurrencies have reduced since the introduction of stablecoins. We are now left to deal with the trustworthiness of these stablecoins following the Terra Luna (LUNA) incident in the fourth quarter of 2022.
Dogecoin continues to maintain its top 10 positions, despite recent positional drifts
Dogecoin is one of the favorite meme coins in DeFi. It has the interest of popular figures and companies like Elon Musk and Tesla, among other pop culture figures and influencers. Many analysts still believe that Dogecoin could hit the $1 price mark despite near-successes of hitting that mark.
On the other note, many members of the crypto community have posited that Dogecoin may not live up to the hype following its lack of utility support like its long-time rival, Shiba Inu. Dogecoin depends on the crypto community and social media for hype and support, which has grossly affected its market price over the years. Yet, it has never dropped below the top 25 cryptocurrency list based on market capitalization—a good reason to not lose faith in the meme cryptocurrency.
Breakout Cryptocurrencies, Big Eyes Coin And Toncoin, Set To Offer Huge Returns To Early Holders
Toncoin is the native coin of The Open Network (TON) — a layer-1 open-source framework and network that seeks to decentralise the cryptoverse and offers faster and better crypto payment systems. Toncoin has made a surprise market entrance, breaking the odds to feature in the Top 50 cryptocurrencies list with a market capitalization of more than 1.5 billion in a short spell since launching in 2019. More than 5 billion Toncoins have been mined so far, with more set to join.
Big Eyes Coin, is another breakout cryptocurrency set to disrupt the meme token ecosystem. Big Eyes Coin, despite being a newcomer, has already raised more than $7.27 million in token sales alone. A great feat only a few cryptocurrencies can boast of.
The fundraiser will be used to develop the Big Eyes ecosystem to serve the community and worldwide economy better. Big Eyes Coin is a crypto you should keep a close mark on as it sets to launch an IDO soon!
If you would like more information on Big Eyes, check out this youtube link below. https://www.youtube.com/watch?v=-KWJhYnzvNs
Learn more on Big Eyes Coin below:
- Presale: https://buy.bigeyes.space/?section=buy
- Website: https://bigeyes.space/
- Telegram: https://t.me/BIGEYESOFFICIAL