New crypto leaders are emerging like XRP, Shiba Inu and Big Eyes Coin Brave Regulations
The crypto industry has been hit by a regulatory breach in recent months, with governments around the world tightening their grip on digital assets. Countries like the US and UK have taken a particularly hard line, with regulations on crypto threatening to push crypto companies offshore.
In this article, we will compare and analyze three prominent cryptocurrencies – XRP, Big Eyes Coin (BIG) and Shiba Inu – in light of these regulatory changes. We will look at how these currencies are responding to the changing environment and discuss what the future may hold for them.
Crypto Industry Under Fire: Regulatory Crackdown Continues
The cryptocurrency industry has been rocked by recent regulatory backlash in the US and around the world. Just in the month of March, the US SEC and CFTC sued the crypto giants Binance and Beaxy. Coinbase, one of the largest crypto exchange platforms, also received a notice from the SEC for possible violations of securities laws.
Recently, Coinbase CEO Brian Armstrong has indicated that the cryptocurrency exchange may consider moving outside the US if the regulatory environment for the industry does not become clearer.
Shiba Inu suffered a 56% loss
Shiba Inu is a cryptocurrency that was created in August 2020 and is based on the Ethereum blockchain.
The Shiba Inu project aims to create a decentralized community and ecosystem of services using blockchain technology. One of the main features of the project is the creation of a decentralized exchange called ShibaSwap, which allows users to trade various cryptocurrencies without the need for a centralized intermediary.
It uses a unique burning mechanism to reduce the total supply and increase the value of the remaining tokens.
Although it has some appealing qualities, the Shiba Inu currency SHIB has experienced a 56.6% decline in value over the past year, largely due to the ongoing regulatory crackdowns on the cryptocurrency industry.
XRP to change the game
XRP is a cryptocurrency created by Ripple Labs, a San Francisco-based fintech company. Ripple aims to facilitate cross-border payments using blockchain technology.
In December 2020, the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs, alleging that the company had conducted an unregistered securities offering of $1.3 billion by selling XRP to investors.
Ripple and its executives have denied the SEC’s claims and have argued that XRP is not a security, but rather a currency, like Bitcoin or Ethereum.
The outcome of this case will have far-reaching implications for the crypto industry, as it could set a precedent for how other currencies are regulated in the future.
The ruling for Ripple and the SEC is expected to be released on or before the first week of May. As Ripple supporters are optimistic about a favorable outcome, the price of the XRP token is increasing. Over the past 30 days, the value of XRP has risen by 26%.
Big Eyes Coin rises against regulatory crackdown
Big Eyes Coin is a new meme coin that has been creating a lot of buzz lately. It operates on the Ethereum blockchain, with a community-driven focus on transparency and fairness. The pre-sale of the coin has been underway, and the last round ends on 3 June.
What makes Big Eyes Coin unique is its innovative features and potential for high returns. One of these features is the loot boxes, which allow users to invest anywhere between $10 – $10,000 for a chance to win prizes of up to a million dollars. Users can also get 300% bonus on these boxes by using the bonus code END300.
Furthermore, the platform has introduced NFTs, which users can create, collect and trade via the OpenSea marketplace. Overall, Big Eyes Coin looks to be a promising project with a lot of potential for growth and returns.
Despite the ongoing crackdown on the crypto industry around the world, Big Eyes Coin has succeeded in attracting more investors and raised over $34 million during its pre-sale. Also, if XRP gets a favorable ruling against the SEC, it could potentially lead to reduced regulations for the crypto industry in the future.
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