This is mainly because of the extreme volatility that takes place in the industry. If you’re not careful – you could lose a lot of money quickly.
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CHARLOTTE, N.C. (AP) — Landon Cassill will be the first NASCAR driver paid entirely in cryptocurrency in a sponsorship deal with Voyager that begins at Nashville Superspeedway this weekend.
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That lack of widespread adoption, plus crypto’s volatility, limits its use as a currency, says Roger Aliaga-Díaz, principal and senior economist with Vanguard Investment Strategy Group.
Since 2017 Binance has grown quickly to reach its current position. However, the rise of this crypto giant was not smooth. In the quickly changing environment of cryptocurrency, government regulations are often several years behind the cutting edge. This was the case for Binance, which came into repeated conflict with government regulations of multiple countries in the years after it was founded, including, eventually, the United States. Originally founded in China, Binance has since moved its headquarters several times.
With cryptocurrencies such as Bitcoin, Ethereum, Doge, Shiba Inu and Solana touching all-time highs, the number of traders has also grown exponentially, said market watchers. Top exchanges have recorded a 200-500% jump in the number of day traders who make money merely by taking positions in various crypto assets.
It hasn't yet been recognised by the major cryptocurrency sites such as Coinbase but why did it get so popular?
Cryptocurrencies are wholly digital, so there’s no physical coin or bill connected to the crypto you own. Instead, owners hold cryptocurrency in a digital wallet, and buy or sell through an online exchange. Your wallet may be online (some popular exchanges like Coinbase offer an in-app wallet) or stored offline on a hardware device similar to a USB drive.
Bitcoin’s price spiked above its previous record high of $67,700 seen in late October on Tuesday morning in a continued surge of support for the world’s most popular cryptocurrency.
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If you already have a wallet on the Binance Smart Chain, getting Safemoon is as simple as exchanging it for any other token in your wallet on a decentralized exchange (DEX) such as PancakeSwap.
Campbell, J. Y. and R. J. Shiller (1988), “Stock prices, earnings, and expected dividends”, The Journal of Finance 43 (3), 661–676
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Crypto market capital shoots to $2.34 trillion with Ethereum occupying 20% of crypto economy