Elon Musk’s net worth took a pounding in 2022, spiraling downward from its lofty $340 billion record in November 2021, to $137 billion, according to Bloomberg Billionaires Index, which makes him the first person in history to lose $200 billion.

The significant drop in Musk’s fortune was as a result of the plunge of Tesla’s stock, which has fallen 65% since last year. With his fortune largely tied to Tesla’s shares, Musk has got into the Guinness World Records as the biggest loser of personal fortune in history.

Japanese tech investor Masayoshi Son, previously held the record with a whopping $58.6 billion loss in 2000.

With his current $137 billion fortune, Musk is ranked the second richest person in the world behind the founder of luxury goods conglomerate, Louis Vuitton Moët Hennessy (LVMH) Chairman Bernard Arnault, who is now the world’s richest man with estimated net worth of $175 billion.

However, it is expected that Musk will regain the first place at Billionaires Index this year, as soon as Tesla shares return to bull runs.

In February 2000, when Son’s net worth nosedived, it was a decline from a peak of $78 billion to $19.4 billion in July of the same year. His misfortune was attributed to Softbank’s ordeal, which was hit hard by the dot-com crash. The Japanese company’s situation deteriorated and Son’s net worth was reduced by as much as $5 billion in a single day.

However, Softbank later bounced back, recouping its losses and also making more. The conglomerate, which is now a notorious venture capitalist, has gone on to acquire many companies around the world, including British and American firms. Following its recovery, Son regained his wealth.

Many have made reference to this situation as Tesla’s value and Musk’s net worth take a beating. Tesla’s shares decline has been largely attributed to Musk’s focus on Twitter, his newly acquired social media company that he is working to transform. Musk has sold Tesla shares worth billions of dollars to fund his Twitter adventure; a development investor said it’s hurting the company.

Experts believe that Tesla stock will rise again as soon as Musk returns his full attention to the electric vehicle company. This also means that Musk will be back as the World’s richest man once again.

Musk, who is also the CEO of SpaceX, has attributed Tesla’s misfortune to current global economic headwinds. But he is also optimistic that the situation will change in the long term.

“Long-term fundamentals are extremely strong. Short-term market madness is unpredictable,” Musk wrote in a post on Twitter.

While Musk dropped to the second spot in the Billionaires’ Index, Tesla still holds its place as the world’s most valuable automaker. The EV company has more $100 billion on its market capitalization than Toyota, its closest rival.

Analysts say Tesla is “still one of the most transformational companies over the next decade.” The company last week slashed the cost of some of its car models in its Asian markets, a move that analysts believe will boost sales and accelerate its recovery.

Why are stablecoins DAI (DAI) and USD Coin (USDC) seeing increases in investors right now? At the time of writing, their market caps have both increased, whilst the rest of the market flounders. This is a question many prospective investors might scratch their heads over, given the downtrend of the crypto market following the FTX crash.

In this article, I will be looking at why stablecoins like DAI (DAI) and USD Coin (USDC) are so popular right now, as well as some of the reasons for the recent frenzy for up-and-coming meme token Big Eyes Coin (BIG).

What Are Stablecoins?

Stablecoins are cryptocurrencies that are pegged to a stable asset, such as a fiat currency or a commodity, in order to reduce price volatility. The goal of a stablecoin is to provide the benefits of a cryptocurrency (such as fast, cheap transactions) while maintaining a stable value.

Stablecoins are useful because they offer a way to store and transfer value in a stable manner, even in volatile market conditions. For example, if you are worried about the risk of volatility of a cryptocurrency like Bitcoin (BTC) in an unstable market, you could use a stablecoin instead. Stablecoins are also useful for carrying out transactions in which stability is necessary, like paying invoices, or salaries of employees.

In addition to their stability, stablecoins also offer many of the same benefits as other cryptocurrencies, such as fast, cheap transactions and the ability to transfer value peer-to-peer. This makes them a useful tool for conducting transactions and storing value in the cryptocurrency ecosystem.

Why Are DAI And USD Coin So Popular?

DAI (DAI) is a decentralised stablecoin that is collateralised by Ether (ETH), the native cryptocurrency of the Ethereum blockchain. It is popular because it is decentralised, meaning it is not issued or controlled by any central authority, and because it is transparent, with all transactions and reserve balances recorded on the Ethereum blockchain.

USD Coin (USDC) is a stablecoin that is issued by regulated financial institutions and backed by a reserve of US dollars held in a bank account. It is popular because it is fully collateralised by US dollars, which are a stable and widely accepted currency, and because it is issued by regulated financial institutions, which may provide some level of assurance to users. Whilst DAI uses a decentralised network of users with smart contracts on the Ethereum blockchain to issue its currency, USD Coin is issued by regulated financial institutions.

One key reason why many people prefer DAI over USD Coin is its transparency. DAI is completely transparent, with all transactions and reserve balances recorded on the Ethereum blockchain. On the other hand for USD Coin, the details of the reserve holdings and audit processes are not made publicly available.

Big Eyes Coin: The Hottest New Meme Coin

What is Big Eyes Coin (BIG), and why is it selling so fast? Investors are swarming to invest in Big Eyes Coin (BIG), a brand-new meme coin on the Ethereum network. Given that it sold over $13 million this past weekend, it is easy to see that its momentum will only grow.

Big Eyes Coin is in pre-sale and so right now operates outside of the crypto market. In a similar vein to stablecoins, holding Big Eyes Coin is a way of investing in cryptocurrency, whilst not getting exposed to volatility. Take advantage of the pre-sale to buy as much Big Eyes Coin as you can before it launches later this year. By picking it up at pre-sale price, not only will you be protecting your crypto investments from the market swings, but you’ll also maximise your potential gains!

Wrapping Up

One of the key reasons that Big Eyes Coin and other stablecoins like DAI (DAI) and USD Coin (USDC) are selling so fast, is that they are immune to the wild volatility of the crypto market, especially during a time of rampant uncertainty, fear and doubt of crypto’s future. Cryptocurrency is not going anywhere. Like the Internet revolutionised our world and gave us countless new possibilities and opportunities, cryptocurrency will do the same. During this bear market, have a look into stablecoins and pre-sale coins like Big Eyes Coin. You won’t regret it!

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Big Eyes Coin (BIG)

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The cryptocurrency market has had a tumultuous year, and most people are looking to close the year on a good note. Or better yet get off to a good start in the new year, and Big Eyes(BIG) and Polygon(MATIC) are two cryptocurrencies with the prospect of becoming huge in the coming year. Both cryptocurrencies give holders a decent position in the market despite irregularities.

Big Eyes(BIG) has been on the radar of most crypto enthusiasts for several months due to the traction it has built. Big Eyes first made the news when it raised $1 million in the first week of its presale. The meme coin is purported to be the next biggest thing in the crypto market, and it poses a lot of profit potential for those who can get in as early as possible. The presale has continued to move and has raised almost $12 million while looking to close out the round at a $13 million target. Hence, there’s still some room before this presale round closes.

Polygon(MATIC) is another cryptocurrency with huge prospects in the not too distant future. The narrative for the cryptocurrency is building beautifully as users expect the crypto network to push for maximum growth towards the next market bill run. Polygon has secured some impressive partnerships in the past several months, and the recently launched Donald Trump NFT trading cards chose Polygon as its preferred network.

Polygon (MATIC) Taking In Both Sides Of The Equation

Polygon(MATIC) is a layer-2 scaling solution on Ethereum created to help EVM blockchains perform better. The network has continued to grow since its launch and is among the most preferred networks across the DeFi and NFT market. It’s particularly preferred for the zero gas fee on the NFT market, and the almost zero transaction costs overall. A huge boon as the carbon tax enters and the cost of living bites.

Polygon is speculated to have high-profit potential towards next year and as the market begins to form healthily. In the past several months, the network has secured partnerships with web2 companies like Reddit, Starbucks, Meta, etc. It made the news that JP Morgan tested their first DeFi transaction on Polygon last month. The firm has a department for blockchain, and as other financial institutions begin to test their possibilities in the blockchain landscape, the mass adoption we all desire may begin to approach, and the profit is for early adopters to make.

Polygon, as a solution, is helping push the frontiers of web3 and other blockchain utilities. It could be a smart decision to be much earlier before the rest of the industry catches on.

Big Eyes Coin (BIG) Emerges Ready To Scale The Meme Charts

Big Eyes(BIG) is a new meme coin project primed for success as the presale has set some incredible milestones. The presale that started some months back raised $1 million in its first week and has now raised over $11 million in seven rounds. The presale stage is looking to close out at a $13 million target, and it would be smart to accumulate BIG tokens at this price before it launches.

Speculated to be as big as Dogecoin(DOGE), Big Eyes has built incredible hype and a solid community around its project. The memecoin aims to create a self-propagating ecosystem that leverages the utility it can build for the whole ecosystem while creating wealth for its community holders. Big Eyes will aim to create innovative DeFi features to help push this cause.

Big Eyes is also inspired by cat memes instead of dog memes like the predominant memecoins in the market. However, this unique approach seems to work fine for the project as it builds an interesting narrative and sets up a rivalry between Big Eyes and other dog meme tokens. Big Eyes has the dream presale for any emerging projects, and it allows early investors to make a profit and fast.

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Binance Coin (BNB) and Uniswap (UNI) are two of the primary tokens that crypto investors expect will experience significant price gains this year, despite the recent dip in the cryptocurrency markets. These two projects have a ten-fold potential for growth, but analysts also pointed out that Big Eyes Coin (BIG), a third cryptocurrency, has huge upside potential. In this article, we will discuss why Big Eyes Coin (BIG) might be one step ahead of all the new cryptocurrencies for long-term investment.

Binance Coin (BNB): Native Token Of The Exchange Growing

The Binance Coin (BNB) has seen a strong rise following the recent issue surrounding the crypto exchange FTX. Recently, it was discovered that FTX, one of the largest cryptocurrency exchanges in the world, was involved in insider trading and market manipulation. The allegations sent shockwaves through the Bitcoin community and incited a wave of skepticism and mistrust.

In the course of this issue, BNB earned a reputation as a haven for investors. BNB, the native cryptocurrency of the Binance exchange, has seen a significant rise in value recently. The impression of Binance as a more dependable and stable network than FTX may be a contributing factor to this.

It is a wise investment to hold Binance (BNB) in your portfolio. Trading on Binance offers discounts, and Binance tokens can be used to join various BEP-20 projects. If you have Binance tokens or BNB, you may easily invest in other cryptos and save money on trading fees at the Binance trading network.

Uniswap (UNI): Trade Ethereum-Built Assets Safely

Uniswap (UNI) is a cutting-edge decentralized project that allows buyers and sellers to trade and exchange Ethereum-built assets in a risky environment. To provide companies with liquidity without avoiding the monopoly imposed by big decentralized exchanges, Uniswap (UNI) was developed.

Users can transfer ERC-20 assets effortlessly via the Uniswap (UNI) interface, and there is no centralized authority to impose transaction limitations or hinder payments. Being an open-source project, Uniswap (UNI) is secure and private. This implies that the underlying code is open to criticism and alteration by the developer community.

The platform also makes it possible for users and developers to purchase money via the platform’s liquidity pools. They also profit when they add funds to a liquidity pool. There are various exchanges where the Uniswap (UNI) functional token, UNI, can be traded.

The most crucial characteristic of Uniswap is that it is a widely used community-driven protocol. The project’s creators designed the Uniswap token to act as the DAO’s currency for governance. Owners of tokens have the ability to vote on community initiatives, distribute funds from the community treasury, and provide feedback on the network as a whole.

Big Eyes Coin (BIG): New Cat On The Block

So far, the presale for Big Eyes Coin (BIG) has been successful in raising over $11 million. This shows how successful it can be and how well it can serve people’s demands for crypto. Big Eyes Coin (BIG) is a decentralized coin that possesses characteristics that set it apart from other tokens.

Many cryptocurrency enthusiasts become confused by Decentralized Finance (DeFi). However, Big Eyes Coin (BIG) can change this background by offering streamlined films and clear directions for utilizing DeFi. Users can learn and make money with this strategy.

Before making a purchase, crypto aficionados typically think about a token’s utility, which denotes quality. This is where countless meme currencies have failed, but Big Eyes Coin (BIG) wants to succeed. Big Eyes Coin (BIG) will provide income for the DeFi ecosystem, allowing it to run. Additionally, Big Eyes Coin (BIG) wants to protect ocean sanctuaries and aquatic habitats.

Big Eyes Coin (BIG) has promised to regularly host meme competitions where participants can display their digital artwork. These digital works of art would take the form of NFTs that could be purchased or sold online. It would not only increase involvement but also give its stakeholders a new source of income.

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