In the past 24 hours, the cryptocurrency has surged 93%. It's currently trading at less than $0.000000000001, according to CoinMarketCap.
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This is a stable coin, so it is pretty unique among other cryptocurrencies. Stable coins have the backing of fiat currencies such as the Euro or US dollar. This means that if an investor buys 1 Tether coin, they will have the same value of 1 fiat currency (backing the coin). Theoretically, what this means is that Tether will have a more stable value than other cryptocurrencies that suffer market volatility.
SafeMoon utilizes a strategy wherein they prevent day exchanging of their coins to fix the value instability issue. SafeMoon declared a remuneration policy for the long-term and earliest holders of the tokens. Individuals selling the tokens will be hit by a 10% punishment charge expense on the exchanges, and 5% of these punishment exchange charges will be dispersed to the current token holders.
Dogecoin, founded in 2012 as a joke, has drawn widespread attention from high-profile personalities such as billionaire entrepreneur Elon Musk and rapper Snoop Dogg.
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The market seems to have taken a turn this morning as a correction has set in. Both BTC and ETH have witnessed a small correction, said Zebpay Trade Desk. The same is happening in altcoins as well, it added.
The wallet has been a subject of excitement, particularly among the SafeMoon community, for some time. Earlier this month, John Karony posted a video showcasing the product’s “safety, quality and accessibility.”
We’ve talked to investing experts and financial advisors who advise against sinking much of your portfolio into the asset class for this very reason. They work with clients to make sure volatile crypto investments aren’t getting in the way of other financial priorities, like saving an emergency fund and paying off high-interest debt.
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"Over the past week, Ethereum scored another all-time high and Binance Coin traded strongly in the greens," it added. "Solana surpassed Tether and Cardano to be the fourth largest crypto."
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UK crypto asset businesses must register with the Financial Conduct Authority - and you can check to see if they are on the Financial Services Register or if they are on a list of firms with temporary registration.
Fig 4. Wavelet coherence scalograms between online factors and price (with GSADF test bubble overlay) for Ethereum and Monero.
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