CRYPTO NEWS

Ravencoin (RVN) Down 36% As Fed Announces 75 bps Rate Hike

Ravencoin (RVN) is down 36% amid a stronger dollar on the back of the US interest rate hike. Ravencoin pricing has been strongly bearish in recent days due to the crypto market sell-off. RVN dropped to $0.040, its lowest level since September 9 of this year.

Fed Announces 75 bps Rate Hike

One of the reasons behind a sell-off in the cryptocurrency market can be associated with US Fed rate hike news. The Federal Reserve increased the target range for the Fed funds rate by a unanimous vote to 75 basis points (bp) and significantly raised its rate hike projections. The new forecast for Fed funds at the end of 2022 is 4.4%, up from the 4.2% rate inferred by futures contracts before this update.

This suggests that the Federal Open Market Committee (FOMC) will likely raise rates by another 75 basis points (bps) in November and will likely raise rates by another 50 bps or possibly a fifth consecutive 75 bps in December.

All members of the FOMC agree with this more hawkish narrative, as evidenced by the high clustering within the dot plots.

Cryptocurrency Market Sell-off

The cryptocurrency market has been flashing red and continues to perform poorly early on September 21, with the global cryptocurrency market worth falling 1.22% from the previous day to $927.26 billion. The total cryptocurrency market volume fell 11.91% in the last 24 hours to $68.55 billion. Bitcoin fell 1.19% on the day to $19,009.8.

Meanwhile, other major cryptocurrencies have seen declines. Ethereum was worth $1,339.36, a 0.89 percent decrease. The strong US dollar and the ongoing crypto market sell-off were two major impediments to future increases in Steller coin valuations.

Russian President Kicks in Risk-off Sentiment

The broad US dollar rose to a new two-decade high as statements from Russian President Vladimir Putin frightened markets ahead of the US Federal Reserve’s likely next aggressive rate hike. Putin issued Russia’s first mobilization order since World War II, warning the West that if it continued to threaten Moscow with “nuclear blackmail,” Moscow would respond with the full force of its vast arsenal.

The dollar index, which measures the value of the US dollar over other major currencies, rose more than 0.5% to 110.87, its highest level since 2002. The strong US dollar was viewed as a major impediment to further increases in the value of Steller coins.

Ravencoin Price Review & Tokenomics

Ravencoin’s current price is $0.0408, with a 24-hour trading volume of $127 million. Ravencoin has increased by 1.85% in the last 24 hours. CoinMarketCap now ranks #79, with a live market cap of $428 million. There are 10,473,290,000 RVN coins in circulation, with a maximum supply of 21,000,000,000 RVN coins.

Ravencoin (RVN) Price Chart

Ravencoin (RVN) Price Chart – Source: Tradingview

On the technical front, the RVN/USD pair is likely to find immediate support near $0.037, which is supported by an ascending trendline. A break below this level may allow for further selling until the $0.0299 level.

On the upside, RVN’s immediate resistance remains at $0.0436, and a bullish crossover above this level opens up additional room for buying until $0.0508 is reached.

Technical indicators such as RSI and MACD are indicating a mixed bias, with RSI indicating a bearish trend and MACD indicating a buying trend. However, the 50-day moving average clearly indicates a selling trend below $0.050.

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Big Eyes (BIG) to Familiarize Crypto Enthusiasts with Established Platforms, Including Solana (SOL) and FTX(FTT), and also Protect the Oceans

Undoubtedly, the cryptocurrency space has become a part of every sector in the world, from finances to entertainment. Especially the financial system has witnessed a revolution, thanks to decentralised platforms like Solana (SOL) and FTX (FTT). These platforms have superb features that can only be understood with a meme coin like Big Eyes (BIG). Big::Listen

Big Eyes to Triumph Over Ethereum and Solana By Raising $1M in Beta Sale: On Track for $50M

Undoubtedly, the cryptocurrency space has become a part of every sector in the world, from finances to entertainment. Especially the financial system has witnessed a revolution, thanks to decentralised platforms like Solana (SOL) and FTX (FTT). These platforms have superb features that can only be understood with a meme coin like Big Eyes (BIG).

Big Eyes (BIG) is a meme coin created to address adoption issues in the cryptocurrency industry and protect one of the world’s most important ecosystems, the ocean. With the rise of cryptocurrencies, decentralised finance has also taken its hold on users and has liberated them from the several problems of the centralised financial system. However, Defi is still only accessible by a tiny fraction of people worldwide.

As a result, Big Eyes (BIG) was created with solutions to help simplify and make Defi better accessible to crypto enthusiasts. The platform is built with tools and features, including swapping protocols, tutorials, back-end systems, guides, and a few others, to ensure it achieves this goal. This will help foster better adoption and drive people to use established platforms like Solana (SOL) and FTX (FTT).

Big Eyes (BIG) seeks to Protect our Oceans with its Charity Wallet

Asides from its function to make Defi better accessible to enthusiasts and new entrants, Big Eyes (BIG) has a charity wallet to help protect the ocean. This is in light of the natural disasters caused by man-made actions and the hampering aquatic lives with pollution and illegal poaching. As a result, Big Eyes (BIG) seeks to partner with ocean-saving charities to help fast-track their aim and expand their reach.

Big Eyes (BIG) will also help generate awareness and publicity around this cause as it seeks to use NFTs to this effect. There’ll be aquatic-themed NFTs available on the Big Eyes marketplace to help bring value to the big eyes ecosystem and fundraise towards the goal. In addition, big Eyes (BIG) hopes to put these NFTs in the “top ten NFTs” chart in times to come, which will position the project on a level with Solana (SOL) and FTX (FTT).

The Big Eyes (BIG) project will self-propagate, which means every ecosystem element will work towards achieving this fundraising goal and enriching its users. In addition, the project will have a merchandise store where people can purchase physical and digital products to support ocean-saving causes and generate wealth for BIG users.

How to Buy BIG Tokens and Enjoy the Wealth-Generating Ecosystem

The project generates wealth for its community, and to be a part of it, you must buy BIG tokens. Therefore, you’re advised to make a purchase from your laptop/desktop and connect a MetaMask wallet for a seamless experience. These are the steps involved in buying BIG tokens.

  1. Visit the official website at https://bigeyes.space/.
  2. Proceed to the “Buy Now” page by clicking the tab at the top right corner.
  3. Connect your wallet as instructed on the page.
  4. Purchase BIG tokens with BNB, USDC, or ETH.
  5. Claim your tokens after buying.

What values do Big Eyes hold to Level Up to the Standards of Solana (SOL) and FTX (FTT)?

Big  Eyes (BIG) has values that guide it and hopes to achieve the status of Solana (SOL) or FTX (FTT) with them over time. These values include:

  • Active: This means the project will remain active on worthy causes and aim to enrich its users.
  • Playful: As a meme coin, Big Eyes (BIG) hopes to move beyond the veil of being goofy or playful and be involved in vita things ongoing.
  • Hard-to-Kill: The platform will continue to evolve and become unstoppable till it reaches its pinnacle.
  • Sociable: Everything on the Big Eyes (BIG) platform will be transparent to all users to build trust.

Conclusion

Big Eyes (BIG) holds the potential to be one of the greatest meme coins to grace the cryptocurrency market. Hence, get your tokens today and enjoy the benefits!

Big Eyes Coin (BIG)

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

Twitter: https://twitter.com/BigEyesCoin

Ravencoin (RVN) Down 36% As Fed Announces 75 bps Rate Hike

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