The start of the Bitrise exchange development has also excited investors and increased new members. The centralized exchange is said to be a game-changer, considering the functionalities that the Bitrise wallet comes with.
Yet tales of meme-coin holders becoming millionaires have attracted new waves of retail investors to crypto -- along with a growing number of nefarious players. In May, the Federal Trade Commission tallied a record number of crypto investment scams, with Americans’ losses totaling around $80 million since October.
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SafeMoon's native token collapsed in price by more than 20% following the issues.
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However, in the wake of the technical issues, the DeFi protocol has met its share of criticisms and FUD. Some Twitter users have even accused SafeMoon of scamming its users.
But before you look further make sure you’re aware of the risks when it comes to cryptocurrencies in general.
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Bitcoin was trading 1.5% lower Thursday morning. The price was around $59,000 per coin.
He likens the drop to the stock market crash of 1987, from which the markets took months to recover. But because crypto moves a lot faster today than equities did in the 1980s, Noble says we may see a quicker recovery.
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Vassalou, M. (2003), “News related to future GDP growth as a risk factor in equity returns”, Journal of Financial Economics 68 (1), 47–73. Topics: Financial regulation and banking Monetary policy Tags: cryptocurrencies, digital currencies, blockchain
As of November 9, SafeMoon has 2,865,000 holders. There has been a consistent rise in the number of SafeMoon holders over the past two months.
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Bitcoin is widely regarded as the first modern cryptocurrency — the first publicly used means of exchange to combine decentralized control, user anonymity, record-keeping via a blockchain, and built-in scarcity.
Bill Noble, chief technical analyst at TokenMetrics, a cryptocurrency analytics platform, thinks the price of Bitcoin will climb throughout the rest of the year. “I think it’s more likely Bitcoin goes to $75,000 than $25,000,” he says.