FTX recently ran to its big brother, Binance. In a tweet by Binance's CEO, Changpeng Zhao, it was revealed that FTX could be facing some liquidity problems and need the help of Binance to pull through.
Binance being the largest ecosystem in DeFi is ever-ready to extend its alms which includes having total control of FTX.com. This news has been positive for Binance traders and negative for FTX traders who may only see the light in the long term.
FTX could reclaim its position once its liquidity challenges are finalized. In other news, Polygon (MATIC) and (BIG) have been trending positively, thanks to the community and media hype around these cryptocurrencies.
Why Is Polygon Trending Today?Since the last quarter of 2022, Polygon (MATIC) has been among the winning cryptocurrencies in the market, alongside Dogecoin (DOGE), and Polkadot (DOT), among others. There are rumours that it could hit its all-time high soon.
Polygon, the Ethereum scaling engine, has been actively powering Web3 protocols which have attracted interest from big companies like Meta and JP Morgan. Polygon traders have been having a good laugh since Q4 2022.
Polygon's bullish market doesn't appear to be ending soon despite recent retracements. If Polygon maintains this pace, then there is a chance its trader could be making 50x what its market has been since hitting a low in May/June 2022.
FTX's Dilemma Could Be A Blessing In DisguiseFTX may be down, but there are a lot of positives to learn from its latest move to strengthen its market. If you're an active trader, you must be familiar with FTX and Sam Bankman-Fried. FTX is one of the top-tier futures crypto exchanges with a portfolio to show for it.
Recently, the market dip has not been favourable to futures traders and even exchanges hosting them. At a point, crypto exchanges were limiting the trading of some futures/derivative assets on their platforms.
The liquidity problems, which have not been confirmed how much it could affect the FTX ecosystem at the time of writing, could be what DeFi needed to prove a point. Many other DeFi ecosystems will not find it difficult to reach out in times of need--a situation that could have caused the crashing of Terra Luna.
Big Eyes Coin Presale Figures Reason For TrendBig Eyes Coin (BIG) is one of the few emerging meme cryptocurrencies to hit high market figures this year. Its community continues to grow, causing it to break new records over presale.
Big Eyes Coin is set to power expansive utilities like its modelled meme ecosystem, Shiba Inu, and there is no stopping now. It is continually raising funds through its community [who will be in charge once the ecosystem is set].
As a beginner trader, Big Eyes Coin could be a good opportunity to enter the "current crazy" crypto market and build a solid crypto portfolio. The Big Eyes presale is a great way to buy the meme coin at a fair/cheap price.
Use the code BCUTE115 at checkout for an extra 5 per cent tokens with your investment!
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( With inputs from ANI )
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