After El Salvador’s Bitcoin Boom, Will Other Nations Adopt Altcoins Like Ethereum and Big Eyes Coin?
About five months back, when El Salvador’s President Nayib Bukele made the controversial decision to make Bitcoin (BTC) the legal tender in his country public, he was met with scepticism and apprehensions. While the country was burdened with massive debts, the people thought of this move as concerning and full of underlying potential risks that could have crushed the economic backbone of El Salvador forever. But in 2023, the El Salvador Economy is writing its narrative, and it is inspiring.
How El Salvador’s Bitcoin Adoption Going in 2023
In November 2022, Bukele announced on Twitter that El Salvador would purchase one Bitcoin (BTC) daily. It is March 2023, and the country repaid one of the two $800 million bonds in five months. The country’s Treasury Minister Alejandro Zalaya took to Twitter to inform that although El Salvador paid in full $800 million plus interest, this story needs to be covered.
El Salvador’s government still owes $367 million plus interest on a bond to mature in January 2025. However, the successful repayment of the $800 million bond indicates that the country’s economy is recovering financially. What was considered a controversial and downward spiralling move paid off as Bitcoin rebounded.
All of it didn’t happen overnight. The legislation process started in 2021 when El Salvador required all businesses to accept Bitcoin as a legal tender for goods and services. The decision to consider crypto at par with fiat currency was colossal for a falling economy, but the government was hopeful about the prospects of cryptocurrencies. Today 2.2 million citizens use Chio Wallets.
Colossal Ethereum Buying By Crypto Whales Ahead of Shapella
Crypto whales are buying Ethereum worth millions right before Shapella or the Shanghai Upgrade, as it is more popularly called. Whale Data revealed massive activity in the past few days implying that ETH purchase was on a roll. Recently 11,529 ETH worth $20 million were transferred from Bitfinex. Another transfer involved 13,341 ETH worth $23 million. A Whale moved 72,999 ETH worth $129 million. More transfers were noticed from Coinbase of 20,899 and 21,451 ETH, 12,499 ETH from Binance and 14,070 from Bitfinex.
While Shapella is scheduled for April 12, the rise in staking activity looks promising for the altcoin. Ethereum’s price has been up by 2.85% since last week, reaching $1803.71 at the time of writing.
Big Eyes Coin Is The Doorway to Millions
While some might not take meme coins seriously, what started as a joke with Dogecoin has become a fun way of earning millions. A brand-new meme coin called Big Eyes Coin (BIG) is actively working to preserve the global environment while also enjoying tremendous community support.
The meme coin aims to shift wealth into the DeFi ecosystem, which is why 80% of BIG will be available at the launch. 5% is reserved in the charity wallet to save the oceans, which is Big eyes Coin’s way of giving back to society. This is a humanitarian cathouse indeed.
Big Eyes Coin presale started in late 2022 but has already raised $32.67 million. Right from the beginning of its ICO, The meme coin has made it a point to reward its kitty cuddlers with a wide range of rewards and bonuses. As the presale is about to end, the ICO offers the users a big bonus yet again. The promo code BULLRUN250 gives the user 250% additional BIG on purchasing tokens and loot boxes.
While Bitcoin has saved El Savador’s economy, Altcoins like Ethereum and Big Eyes Coin are excellent choices for investors keen on making it big in the crypto world. Other nations must follow El Salvador’s example and go the crypto way.
Big Eyes Coin (BIG)
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
