From Beyonce making history with the most wins to Harry Styles winning the biggest prize, the Grammys is on everyone’s lips. But it is not the only news-making event to hit the headlines today. For smart investors and crypto enthusiasts, the day started with news of Big Eyes Coin’s (BIG) impressive presale figures – a whopping $23.5 million raised in its presales at the time of writing.
The largest presale on record is still held by Filecoin (FIL) while Ethereum (ETH) remains a force to reckon with a more than three million percent increase above the presale price.
Big Eyes Coin – The makings of a lineal champion?
It’s the world’s heavyweight presale championship and one rising player/newcomer is giving the reigning champions a run for their money. In boxing lingo, a lineal champion is a boxer who wins the championship from the fighter who won it – in essence, “the man who beat the man.”
With almost $24 million in its trunk from presales, Big Eyes Coin is seeing one of the biggest presales in recent history. An impressive feat for a meme coin that is now being speculated to be the next big thing in the meme coin market.
What can one, therefore, anticipate following the biggest presale of the past two years? BIG intends to release an NFT collection, which could reach the top ten projects.
The meme coin aims to build value for the larger crypto landscape while helping its holder make money, as it uses DeFi and several other utilities to fuel its community.
Filecoin and its presale success story
With the title for the largest presale on record still being held by Filecoin (FIL), the blockchain data network storage had an impressive introduction to the crypto scene in 2020. It raised $52 million during the presale session and an astounding $205 million during the ICO.
During this time, the price increased by 350%, from $1 to about $5, and in 2021, FIL reached its all-time high of about $240. Although with a massive drop to under $6 more recently, it has lately been criticized for having failed to keep its promises. Despite the significant dip, Filecoin is still worth considerably more than its initial presale price, emphasizing the advantage of investing in a concept as soon as it is available.
Ethereum didn’t come to play
It was the summer of 2014 and the Ethereum (ETH) presale had just begun, and within the first 12 hours, more than $2.3 million, or 7.4 million ETH, had been raised. Once complete, the ICO raised $17.3 million – an incredible number for the industry at the time. The decentralized, open-source blockchain launched when the terminology for presale was referred to as an Initial Coin Offering (ICO).
Of course, every cryptocurrency enthusiast is aware of how big Ethereum has become. It is the world’s second-largest cryptocurrency in terms of market valuation, behind only Bitcoin (BTC). Its all-time high of nearly $4900 in November 2021 reflected a more than three million percent increase above the presale price of under $1.
Buying low and selling high is a well-known financial maxim around the world. This is particularly true in the case of cryptocurrencies, where a successful project (or coin) may swiftly produce immense returns for its backers. And with success stories like ETH and FIL, many years later, is it any wonder investors are taking advantage of the opportunity a coin like Big Eyes presents in a bear market?
Big Eyes Coin (BIG)
Disclaimer: Nairametrics is not affiliated with any cryptocurrency company. Kindly refer to the SEC rules on Digital currencies before making any investment decision.