ATLANTA, Oct. 29, 2021 /PRNewswire/ -- The crypto market has seen its best performance during the pandemic, which completely changed how people view it as investors. Projects like SAFEMOON, DOGECOIN, SHIBA INU, and more changed many lives by giving over 100x returns.
Though both assets posted a quick recovery, the event has made a significant impact on the market. Bitcoin retraced by 7.4% a few hours after making a new all-time high at $67,000.
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It is the latest cryptocurrency to have seen a spike in interest since the turn of the year, following on from the success of Dogecoin, Bitcoin and Ripple XRP in recent weeks.
The SafeMoon price is already rising massively in the last 12 months, and it has marked an all-time high price of $0.00001399 a month ago. As per price predictions by analysts, SafeMoon price would close to a new all-time high level before this year-end without any resistance level indication. One more reason for this is the corporate SafeMoon involved in developing charity projects, influencing the liquidity pool attracting more users for investment.
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(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)
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The number of people who utilize crypto coins (i.e., utility) and for what purpose impacts their price. The price will rise if more people use them to buy goods and services rather than just holding them.
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In 2019 Facebook said it plans to introduce a cryptocurrency that at the time was called Libra.
It is also important to mention that Bitrise is one of the coins that Safemoon lost whales to some time ago. This is just one sign that Safemoon is in deep trouble.
This page defines and compares the top cryptocurrencies traded around the world: Bitcoin, Ether and Litecoin. Keep reading to view live cryptocurrency prices and the latest cryptocurrency market news, and to learn about the factors that influence prices, such as speculation and regulatory ruling. Live cryptocurrency prices What are cryptocurrencies? Top cryptocurrencies traded worldwide What affects cryptocurrency prices? Trading tips
Since Binance doesn't allow for US Dollar deposits and trading, most of the volume on the exchange occurs against stablecoin pairs such as BTC/USDT, BTC/USDC, and BTC/BUSD (BUSD is Binance's native stablecoin). One other factor to note is that although Binance does have more volume than any other exchange, that volume is spread across a much larger pool of cryptocurrencies than other exchanges such as Coinbase and Kraken. Therefore, it's always important to look at the specific asset you're interested in trading in order to determine how liquid (or illiquid) it is.
Safemoon is one such smart contract-based token. It does not have its own blockchain; its supply is managed by a smart contract on Binance’s in-house blockchain.