Arbitrum Sets Sights On Polygon’s Market While Big Eyes Coin Garners Attention
Arbitrum (ARB) has emerged as a strong competitor to Polygon (MATIC) in the market for layer 2 blockchain technology. Its Optimistic Rollup infostructure is aimed at capturing the market share of its counterpart. Meanwhile, Big Eyes Coin (BIG), a recently launched ERC-20 token, has taken the crypto industry by storm with its unique and adorable Loot cards, attracting the attention of many investors.
The Layer-2 Race: The Next Big Thing in Crypto
In the beginning, only layer-one blockchain technologies like Bitcoin and Ethereum existed in the crypto world. These base layers, known as mainnet, were the only option for users. However, as more and more tech-savvy investors entered the market and the demand for cryptocurrencies grew, the scalability and transaction fees of these mainnet blockchains became a concern.
To address these issues, crypto companies started building layer-2 blockchains on top of mainnets like Ethereum and Bitcoin. These layer-2 blockchains offer greater flexibility and scalability than their layer-one counterparts. As a result, they are gaining popularity among crypto investors at a rapid pace.
Given the advantages that layer-2 blockchains offer, it has sparked a race among crypto companies to become the top layer-2 solution in the market.
Polygon (MATIC)
Polygon (MATIC), a layer 2 blockchain solution, is designed to address the limitations of the Ethereum blockchain network. It aims to improve the flexibility, scalability, and sovereignty of Ethereum-based blockchain projects while maintaining the security and structural benefits of the mainnet.
Polygon, which was launched in 2017, serves as a bridge between Ethereum-based blockchain networks and provides a platform for creating interoperable blockchain networks.
MATIC is the ERC-20 token used as a governance and utility token on the Polygon network. Its transaction fees are significantly lower compared to the Ethereum network, with users only paying around $0.01 per transaction. The consensus mechanism used on Polygon ensures faster transaction confirmations within a single block, with an average processing time of 2.1 seconds.
Despite the significant advantages offered by Polygon, its dependence on the Ethereum network exposes it to potential disruptions, which could negatively affect its value. Consequently, MATIC has experienced a downward trend in the past year, losing over 33% of its value since March 2022.
Arbitrum (ARB)
Arbitrum (ARB) has emerged as a potential competitor to Polygon as the latter experiences a bearish trend. The newly launched layer 2 blockchain technology operates on the Ethereum mainnet and utilizes its ARB token to offer faster and more cost-effective transactions.
Since its debut in March 2023, ARB has garnered a market capitalization of $1.5 billion and is currently trading at around $1.21. With its performance so far, ARB has the potential to challenge MATIC’s market position, despite the latter being present in the market since 2017. This is mainly due to the fraud-proof technology inherent in Optimistic Rollup, which could provide ARB with a competitive edge and position it as a “MATIC killer.”
BIG NFT Collection Goes Live
Big Eyes Coin (BIG) has launched as a new meme coin operating on the Ethereum blockchain. The ERC-20 BIG token powers the Big Eyes Coin ecosystem, providing utility and governance functionality. The project aims to shift wealth into the Decentralized Finance (DeFi) ecosystem while also preserving the world’s oceans.
By leveraging the Optimistic rollup architecture solution, ARB has the capacity to process up to 2,000 transactions per second on the Ethereum blockchain.
In its 12th stage of the presale, Big Eyes Coin has raised over $33 million, highlighting the enthusiasm surrounding the project. To attract more investors, the project has released loot boxes priced between $9.99 and $9,999, which could provide up to $1 million worth of BIG tokens. Investors can also take advantage of a 250% bonus by using the ‘BULLRUN250’ code to purchase BIG tokens.
The Sushi Crew NFT project, affiliated with Big Eyes Coin, has recently announced that it will offer loot cards to Loot Box buyers, which can be minted as NFTs. These newly minted NFT cards can be traded onOpenSea, the largest Web3 marketplace for NFTs and crypto collectibles. Every investor who purchases a loot box will also receive a custom cute card in addition to BIG tokens.
The new loot card offer has generated a lot of buzz in the crypto market, attracting investors to participate in the Big Eyes Coin presale.
If you’d like to take a look at the Big Eyes Coin NFTs click below:
https://opensea.io/collection/big-eyes-lootbox-cards
Big Eyes Coin (BIG)
Presale:https://buy.bigeyes.space/
Website:https://bigeyes.space/
Telegram:https://t.me/BIGEYESOFFICIAL
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