The European Central Bank (ECB) is one of the most important banks in the world. It is the central bank of the 19 European countries that have adopted the euro. Its function is to keep the Euro stable while contributing to banking safety. Recently MiCA (Markets in Crypto-Assets) was passed to set standards across the crypto space, and the ECB wants to prevent them. This article will look into these regulations, and examine three cryptocurrencies and how it affects them. The three cryptocurrencies are Big Eyes (BIG), SafeMoon V2 (SFM), and Polygon (MATIC).
Big Eyes (BIG) is a community token aiming to shift wealth into the DeFi ecosystem while protecting an important part of the world’s ecosystem. Big Eyes goes against centralisation by being owned by the community, 90% of tokens will be available to them at launch. You can find out more about it here.
$2 million liquidity will be locked for two years, along with no shopping tax, and 5% of tokens in a charity wallet. These are just some of the tokenomics of Big Eyes (BIG) that has made it so popular among its community. Influencers and celebrities will hear of these amazing ideas and help expand their community further.
Big Eyes (BIG) has the potential to go worldwide when it launches. The new legislation requires crypto-asset service providers to have authorisation to operate in the EU, apart from NFTs. Although the ECB is trying to prevent this, Big Eyes (BIG) will still be available to hundreds of Millions in the EU as NFTs make up a huge part of its ecosystem.
Polygon (MATIC) runs alongside the Ethereum (ETH) blockchain. It has fast transactions and low fees and creates an opportunity for passive income through staking. 0.27% of Polygon tokens are burnt annually to gradually increase the value over time.
One of the regulations stated in the MiCA proposal was that providers in the crypto-asset market are made to share information on their carbon footprint and their impact on the environment. This would potentially be beneficial for Polygon (MATIC) as it uses a Proof-of-Stake consensus mechanism.
The Proof-of-Stake consensus mechanism has proven to be a reliable way to reduce a cryptos environmental impact. Polygon (MATIC) currently produces 0.206587559 Grams of CO2 per transaction while Ethereum (ETH) produces 124.34 Kilograms per transaction. The difference is staggering, and Polygon certainly benefits from this regulation.
SafeMoon V2 (SFM) has undoubtedly reignited the popularity of the SafeMoon platform. The new token has consolidated the original token at a ratio of 1 to 1000 while significantly lowering the cost of transactions.
Throughout 2021, SafeMoon V2 (SFM) received multiple celebrity endorsements that contributed to its rising popularity. These included rapper Lil Yachty and Youtuber Jake Paul. Its notoriety as a meme coin coupled with celebrity endorsements means this token could explode at any time.
400 million SafeMoon V2 (SFM) tokens have been burnt thus far making it a deflationary token. It is resistant to inflation, unlike fiat currencies. If the ECB is unsuccessful in preventing the regulations, SafeMoon V2 (SFM) still has media-related digital assets that will not need authorisation as per the regulations.
Although the regulations set by the European Parliament seem to be negative on cryptocurrencies, SafeMoon V2 (SFM) and Polygon (MATIC) have other services they offer and loyal communities to back them.
Big Eyes (BIG) has started its incredible journey to become the largest meme token in the world. If the MiCA proposal passes, the Big Eyes community in Europe will still have access to the NFT events and the exclusive Big Eyes Sushi Crew. Don’t let the regulations put you off this impressive project. If you want to read more about it, click here.
For more information on Big Eyes (BIG), please visit the following websites:
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
Twitter: https://twitter.com/BigEyesCoin
Instagram: https://www.instagram.com/BigEyesCoin/
