IMF Opposes Cryptocurrency Ban: Lido DAO & Big Eyes Coin Rally As BitDAO Consolidates In Red

The International Monetary Fund (IMF) has sided with the cryptocurrency industry by opting against an outright ban on crypto. Speaking on the sidelines of the G20 meeting in India, IMF’s Managing Director Kristalina Georgieva said the agency would prefer introducing regulations to monitor cryptocurrency rather than banning it completely.

The outcry for regulation on cryptocurrency comes following a series of controversies that began last year when the crash and eventual bankruptcy of FTX cost investors to lose billions in investments and the US Securities and Exchange Commission's clampdown on Binance USD (BUSD) stablecoin and Kraken’s staking-as-a-service platform earlier this year.

Despite the setbacks, the industry has been having, experts and analysts, predict cryptocurrency to see more growth indicating that 2023 could be the most crucial and productive year for the industry. Regardless of the see-saw ride cryptocurrencies have been on over the past few months, investors continue to remain optimistic about the industry as new entries like Big Eyes Coin (BIG) have been gaining significant traction bearing testament to the explosion of the crypto market.

Big Eyes Coin: Defying Crypto Volatility

Big Eyes Coin (BIG) is a new community-owned cat-based ERC-20 meme token that has been built on the Ethereum Network that encourages cat-loving enthusiasts to invest in the project with the assurance of shifting wealth into the Decentralized Finance (DeFi) ecosystem and upholding itself as a project that functions on eco-friendly principles.

Big Eyes Coin launched its presale in August 2022 and plans to go live on the market once it has raised $50 million in presale tokens across 15 stages. The meme token, now in stage 12 of its presale, has so far raised $30.61 million in presale tokens and has been adjudged as the most successful Initial Coin Offer (ICO) in recent times, a rather impressive achievement given the timing of the presale; at the height of the FTX scandal.

The presale stage of a cryptocurrency, allows investors to acquire tokens at a discounted price and produce heavy returns when the token goes live. Big Eyes Coin when launched in presale, at stage 1, was worth $0.0001, meaning an investor who purchased $1000 of BIG tokens during this stage is set to earn 10,000,000 of BIG when it goes live. Based on the same theory, buy ers can still earn 2,040,816 BIG coins at the current price of $0.00049 per coin. It is essentially an ‘early bird catches the worm’ scenario where buyers should hurry to get their share of BIG tokens as the price rises as each presale stage progresses.

Lido DAO: Trading Firm in the Green

Lido DAO's (LDO) price rose overnight by 1.30% continuing its positive trend over the past week where it has experienced a 6.34% gain. Lido DAO's gains have helped the liquid staking solution for Ethereum, to move up from $2.6712 a week ago to its current price of $3.13.

At the time of writing, Lido DAO held a market capitalization of $2.6 billion and was trading at a volume of $319 million with a circulating supply of 847 million.

BitDAO: Red Trading Amid $200 Millon Web3 Fund Proposal

BitDAO (BIT), a decentralized autonomous organization, declined in the past 24 hours by 0.87% continuing its weekly downward trend of 6.87%. BitDAO’s price has been back and forth over the past 30 days posting a low of $0.4326 and a high of $0.6419.

BIT’s price movement comes amidst a proposal by Mantle Core, an Ethereum layer-2 network developed by the BitDAO ecosystem, to create a $200 million fund dedicated to early-stage Web3 startups which aims to boost the adoption among developers and DApps.

At the time of writing, BitDAO was trading at $0.584 and held a market capitalization of $1.2 billion with a 24-hour trading volume of $9.5 million.

Find out more about Big Eyes Coin (BIG): 

Presale: https://buy.bigeyes.space/ 

Website: https://bigeyes.space/ 

Telegram: https://t.me/BIGEYESOFFICIAL