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Eichengreen, Avgouleas, Poiares Maduro, Panizza, Portes, Weder di Mauro, Wyplosz, Zettelmeyer
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Within its first eight days of existence, DogeZilla has been said to have grown into a super microcap of $500million from just $50,000.
Its website carries the slogan ‘Safely to the Moon’ - a play on the phrase first mooted by WallStreetBets on Reddit in an attempt to hype up the price of Dogecoin.
Safemoon is a cryptocurrency token that was launched in March 2021. The token is housed on the Binance Smart Chain (BSC), a blockchain developed by Binance that runs parallel to the traditional Binance Chain (BC). The difference between the two is that Binance Smart Chain has smart contract functionality, opening up many avenues for decentralised applications (dApps) to be constructed.
Bitcoin (BTC) plummeted 2.18% to $66k at the time of writing. Bitcoin’s dominance is currently 43.35%, a decrease of 0.34% over the day.
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"The U.S. historically has made very clear regulations, so we hope that will clear up," he said. "At the same time, some early adopters in this space will be better rewarded. There are uncertainties in the regulatory space, but we're willing to try."
Dogecoin, meanwhile, was trading up by less than one percent on the last 24 hours at $0.28 (£0.21) on Tuesday afternoon.
The blockchain thus prevents double-spending, or the manipulation of cryptocurrency code to allow the same currency units to be duplicated and sent to multiple recipients.
The team announced a few days back that Safemoon whales had joined the coin. Since then, there has been an influx of new crypto members joining Bitrise coin. All these factors have significantly driven the market cap up by +$200 at the time of writing. But what are the underlying factors driving the huge number of investors joining Bitrise crypto coins every day?
As explained in its roadmap, the SafeMoon team hope to begin a "community listing donation raise for several exchanges" in Q3 2021. As of July 21, this has not yet started.
Update yourself with important crypto metrics, such as Total Market Cap, BTC Dominance, ETH Dominance, number of cryptocurrencies and more. Check the overall crypto market performance and know where the industry stands today.
Bitcoin price hits new record high - why is Bitcoin up today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu (Image credit: Getty Images/Canva Pro)
While it shares characteristics of both currency and investments, there’s still debate among experts about whether cryptocurrency is clearly one or the other.
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ITVGMB has received Ofcom complaints after Dr Hilary Joned branded yellow card leaflets ‘a hoax’.