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And while the cryptocurrency has since dipped slightly on Tuesday afternoon, it is still up by a whopping 350% on Bitcoin’s price at 7 November 2020 after nearing the new $70,000 threshold.
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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.
The decision to buy cryptocurrency should always have a long-term outlook, as crypto prices can be particularly volatile. Safemoon is no different, as in its short lifespan, the price has already exhibited some significant price swings. To get a better sense of Safemoon’s outlook, let’s take a look at the technical and fundamental factors that could shape price in the future.
Andrea Edwards has worked in marketing and communications all over the globe for 20 years, and is now focused on her passion – writing. A gifted communicator, strategist, writer and avid blogger, Andrea is Managing Director of SAJE, a digital communications agency, and The Writers Shop – a regional collaboration between the best business writers in Asia Pacific Main navigation Economics
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WASHINGTON (AP) — With inflation at its highest point in three decades, the Federal Reserve is set this week to begin winding down the extraordinary aid it has given the economy since the pandemic recession struck early last year, a process that could prove to be a risky balancing act.
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How to Decide on a Hot Wallet or Cold Wallet for Your Crypto, and Whether You Need One at All
Our Safemoon price prediction for 2022 sees the coin reach a valuation of $0.0000060, which is around the same as it was in late May 2021.
Crypto companies such as miners Marathon Digital Holdings Inc. and Riot Blockchain Inc. each rallied more than 10% Monday. Coinbase Global Inc., the largest U.S. exchange, gained as much as 3.6%, a day before reporting third-quarter results.
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A cryptocurrency is, most simply, a digital asset. It is called a currency because it was created to work as a medium of exchange in the same way that we use fiat currencies now.
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Safemoon protocol aims to create a self-regenerating automatic liquidity providing protocol that would pay out static rewards to holders and penalize sellers.
The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology that Powers Them (Cryptography, Crypto Trading, Digital Assets, NFT)
The scope of the Binance.US error, however, was in a league of its own and did not go unnoticed by market participants.