The global banking world was rocked with shocking news over the weekend: Credit Suisse has officially fallen from grace. Shortly after reports of its tumble, cryptocurrencies have seen bull patterns yet again. Big Eyes Coin, Ethereum, and Bitcoin have indeed kicked off with huge trading prices and with the latter dominating the race.
The Reason for Credit Suisse's Collapse
Credit Suisse, a multinational investment bank and financial services company founded and based in Switzerland, is in huge turmoil after clients pulled out $119 billion of funds in the Q4. The institution tried to tap investors for a resurrection but to no avail. Its biggest backer, Saudi National Bank, responded an "Absolutely not" to a question whether it was open to injecting funds to the struggling Swiss bank.
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However, a walk down memory lane would suggest that there were many signs of struggle prior to its unfortunate collapse this weekend.
In recent years, Credit Suisse has faced several issues that have impacted its reputation and financial performance. Some of these issues include its money laundering scandals, exposure to high-risk clients and transactions, and losses in relation to the Archegos Capital Management collapse.
Gold Lost Its Safe Haven Appeal — Here’s Why
As fear over further global downturn creeps in, with the Credit Suisse tumble at the surface of it all, gold prices fell across the board on Monday morning. It has seen a price decline of 1% at $1,974.94 per ounce, according to UAE's well-reputed English daily newspaper Khaleej Times, on Monday. The drop of gold price has regrettably diminished its appeal as a safe haven.
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Ethereum, Big Eyes Coin, and Bitcoin in a Multi-Month High
Bitcoin (BTC) is pumped and consistently breaks all resistance zones on an hourly time frame. As of this writing, BTC has hit its resistance levels at $28,297.35. Experts say that at this time, surpassing the $30K threshold would be very simple if it keeps the momentum steady and beats the current.
Bitcoin is currently up 4.67%, with a live market cap of $546.77 billion, while its volume stood at approximately $44.34 billion.
Meanwhile, the second largest cryptocurrency Ethereum (ETH), has a trading price of $1,796.98, up 1.13%, with a live market cap of $219.90 billion and a volume of $10.84 million.
The above data was acquired on Monday via CoinMarketCap.
On the other hand, Big Eyes Coin is catching up to the crypto giants Bitcoin and Ethereum, as it is ready to hit its $32 million mark in presale in no time.
Up To $1.3 Million Rewards!
While Big Eyes Coin is only a hundred dollars shy from smashing the big 3-2, it gives its meme-loving community some exciting offers, for the meantime.
Big Eyes Coin launched its most exciting time-limited '300' vault pin where $BIG token holders get 300% extra loot boxes on top of its previous offering of a 5000% ROI! Essentially, users can get up to six (6) loot boxes or bag home a whopping $1,300,000 each time they use the key code ‘300.’
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Big Eyes Coin Is Set to Launch 250% Bonus Code!
As if $1.3 million $BIG bonus isn’t enough, Big Eyes Coin is launching its newest bonus code: BULLRUN250 for extra 250%! Should you key in the code, be sure to check your spelling — everything must be in capital letters — as it is case sensitive. Stay tuned!
Hang Tight; BULLRUN250 Is Set to Launch Soon! Follow the below Links as You Wait:
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
