SafeMoon is targeting greater adoption and additional use cases with the launch of V2.
Competing interests: The authors have declared that no competing interests exist.
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You can't ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls
To buy Safemoon, you have to add Binance Coin to your TrustWallet and then transfer that to Pancake Swap, where you can then buy Safemoon. This process is pretty complex, which is why many retail investors choose to invest in alternative cryptos.
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Miners’ work periodically creates new copies of the blockchain, adding recent, previously unverified transactions that aren’t included in any previous blockchain copy — effectively completing those transactions.
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The value of Safemoon is currently sitting at $0.000003803 - up almost 23% over the past 24 hours, according to CoinMarketCap.
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Binance has grown into the world's largest cryptocurrency exchange. During the month of May, Binance had spot trading volume of approximately $1.5 trillion, which was a 63% increase from April. As you can see in the image below, the volume traded on Binance is significantly higher than its closest competitors, Huobi and Okex.
Responding to regulatory pressure, Binance has curbed some services on cryptocurrency bets, highly leveraged positions and trading with tokens linked to shares, and has pledged to beef up its compliance staffing.
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In June, SafeMoon launched a beta version of SafeMoon Wallet, a place for storing and trading coins and required applicants to sign non-disclosure agreements.
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The former US banking regulator and crypto enthusiast is resigning at a time when regulators in Hong Kong, Britain, Germany, Japan, Italy and Thailand have cracked down on Binance due to worries over investor protection. Watchdogs globally also fret that the boom in cryptocurrencies is aiding money laundering and increasing systemic risks.
Despite this incident, crypto industry experts keep speculating about where Bitcoin's price is headed next with some suggesting it will soon hit $80,000. This past Friday, Bloomberg reported Bitcoin was headed for $80,000 to $85,000, while a crypto data expert said resistance at $60,000 would have provided the last buying opportunity before the coin would head for new all-time highs.
Mr Karkhalev added: "The growth in the capitalisation of the Bitcoin crypto market has also aided confidence.