The internet has been around since the 1980s, but by 1995, the internet and the world wide web were fully established phenomena used in most homes, with the most popular browser having around 10 million users worldwide. Today there are 5.03 billion internet users worldwide. This implies that the internet is capable of tremendous things. Petitions, protests and other world-changing events have all been organised online. The internet can also create traffic for ridiculous things and make it a sensation. You can see this happen with anything/anyone who goes viral. So why is the internet so crucial for crypto? People with any idea or thought can communicate with anyone in any country so long as they are online, this aids crypto marketing.
Big Eyes Coin (BIG) – A Meme Coin That Could Go Viral
If there is one thing the internet loves, it’s a good meme. Meme coins are on the rise in the crypto market. Big Eyes Coin (BIG) is an up-and-coming form of cryptocurrency. What makes it funny and meme-worthy is the coin’s adorable cat mascot. The mascot is a cute character who loves fish and making sushi – which is why the coin will also release sushi NFTs. The mascot’s love of fish goes so far that the meme coin is dedicated to putting 5% of its BIG tokens aside for ocean-saving charities to protect its precious fish. Alongside the coin’s own merits, the cat mascot may be able to gain the coin more internet traction. Internet users like things that make them laugh or that they can make fun of and turn into memes. Meme coins were made, for this reason, to be funny and enjoyed.
How does this affect the crypto market? In previous years memes have affected large-scale events. For example, during the 2017 US elections, the meme Harambe was so viral that people started to vote for him simply due to commitment to that meme. This may have affected the elections in some way. The takeaway is that when memes explode, people put them everywhere. If Big Eyes Coin (BIG) were to receive the same acknowledgement and meme-d in the same way, they may go viral and increase their popularity tenfold.
Why Is Litecoin (LTC) Still Not as Popular as Bitcoin (BTC)?
Even though Litecoin was only released two years after Bitcoin (BTC), it has nowhere near the same traction and popularity. Cryptocurrencies that were released after Litecoin have far surpassed it, like Ethereum. There could be many reasons Litecoin did not quite reach its predecessors’ success. The main reason is thought to be less publicity. Digital currencies like crypto rely heavily on the internet for many things, including marketing. Litecoin (LTC) wasn’t discussed as frequently as Bitcoin or Ethereum and therefore failed to reach the traction level of those two coins. However, Litecoin has much faster transaction speeds, up to four times faster than Bitcoin. Those who are often interested in investing in crypto spend a lot of time online, and digital marketing would reach them better, hence why the internet is essential for cryptocurrencies.
Why Ethereum Classic’s (ETC) Bad Internet Press Caused It to Dwindle?
Ethereum Classic (ETC) used to be the main form of Ethereum. This changed when the supposed “highly secure” cryptocurrency was hacked, and the blockchain became forked. The internet became aware of this as many lost their money. The knowledge of what had happened to Ethereum Classic had spread everywhere on the internet. People demanded the currency to make their blockchain more secure. The founders had to decide to carry on the chains in two separate directions: the old one remained and was named Ethereum Classic, and the new one was improved and named Ethereum (ETH). Those who lost their money were given back as Ethereum (ETH) coins. The internet is now aware of Ethereum (ETH) and how it’s more secure flocked there, making it the second most popular cryptocurrency. Ethereum Classic has a significantly lower market cap and circulation. This again shows how significantly the internet can affect crypto.
The internet affects everything in our world, and cryptocurrencies aren’t exempt. Big Eyes Coin (BIG) may blow up as a meme and be spread all over the internet, granting them traction and popularity that Litecoin (LTC) and Ethereum Classic (ETC) failed to achieve.