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Bitcoin and other leading crypto coins experienced a significant drop in share price after investors began dumping mining equipment as China announced fresh regulations.
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Outside of Binance there has been a shift to using Coinbase or Gemini, but out of the two reviewed above, there is one clear leader.
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In 2017, Changpeng Zhao (also known as CZ), founded Binance. Zhao’s background includes developing high frequency trading software as well as working as an executive at another cryptocurrency exchange, OKCoin.
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The cryptocurrency has continued to rise and fall as other global administrations and regulators mull legislation to curb increased crypto activity often attributed to laundering and crime.
Another property of Safemoon which has attracted wide criticism is the ownership pattern of the current supply of the token. A large proportion of Safemoon’s total liquidity is owned by members of the founding team. Although these funds are in a so-called lock-up, such concentration of ownership is often a cause for serious concern in the crypto space. In part, this concern is because of the influence that major holders—called whales—have over price movements when they sell.
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Cryptocurrency’s technical foundations date back to the early 1980s when an American cryptographer named David Chaum invented a “blinding” algorithm that remains central to modern web-based encryption.
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Numerous others have also made their mark on the industry, some of whom Cointelegraph lists in its top 100 people in crypto and blockchain for 2021.
The inability to get SEC approval really held back bitcoin and cryptocurrencies in general. It sent the message, says Innes, “that there wasn’t underlying support from Wall Street.” Meanwhile, the price dropped from around $10,000 to $6,000.
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It’s definitely possible that the SafeMoon price can reach a dollar in value at some point in the future. However, it’s worth pointing out that even the most optimistic long-term SafeMoon price prediction sees it valued at less than a cent in seven years from now. Currency.com