There are several reasons why investors find this cryptocurrency appealing, and the chief of that is its affordable price. However, this coin has also shown that its value can rise well enough over the years, and it still has plenty of room for growth.
Additionally, because there is no physical product or centralized organizing body, it is hard to point to anything and say “see, that good thing happened, crypto values will increase now”. So how does cryptocurrency gain value?
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Ethereum price enters into price discovery mode as it continues to press on towards new all-time highs. Little exists in the form of resistance for Ethereum. Ethereum price has few, if any, resistance levels ahead. The only level nearby that might cause some selling pressure and profit-taking is the psychological number of $5,000.
It hasn't yet been recognised by the major cryptocurrency sites such as Coinbase but why did it get so popular?
Binance.US has an option to automatically buy and sell crypto using U.S. dollars, using a simple interface that’s similar to what you’ll find on Coinbase and other competitors. Each of these buy/sell transactions charge a 0.5% fee.
The coin's tokenomics show that the team is building a platform that rewards investors handsomely. First, the token is a hyper-deflationary payment network token, which rewards investors for holding tokens in BNB. For every transaction, 12% is charged, only 3% of the collected tax goes to marketing. The 4% is awarded to the token holders in BNB. It is this active income from the rewards, which is paid every 60 minutes, that is attracting most Safemoon members and thousands of other investors.
It follows recent crashes brought on by Tesla making a u-turn on accepting Bitcoin as payment for its products and China clamping down on initial coin offerings, block exchanges and warned against speculative trading.
Bitcoin’s bullish price rise to near $70,000 in value comes as investors hope to see the $1 trillion market cap remain firmly in place ahead of a volatile trading period.
Brooks led the Office of the Comptroller of the Currency (OCC) before joining Binance.US. At the time, his move to Binance.US raised some eyebrows because Binance is not seen as the poster child of compliance, particularly compared to Coinbase where Brooks worked before joining the OCC.
Monthly PLAN
Due to their political independence and essentially impenetrable data security, cryptocurrency users enjoy benefits not available to users of traditional fiat currencies, such as the U.S. dollar, and the financial systems that those currencies support.
Keep your investments small, and never put crypto investments above any other financial goals like saving for retirement and paying off high interest debt.
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Fundamental analysis is another critical component when investing in cryptocurrency, as it can help determine whether a coin is overvalued or undervalued. In the case of Safemoon, the research we conducted for our Safemoon price prediction found that the coin’s market cap was only $799 million at the time of writing, according to data gathered from CoinMarketCap. This is extremely small for a cryptocurrency and means that Safemoon isn’t even in the top 200 largest cryptos in the world.
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