Bitcoin wasn’t the only cryptocurrency to feel the effects of Tesla’s decision. (Pic: Shutterstock)
Cryptocurrencies are inherently cryptic — it’s right there in the name. And if you follow Warren Buffett’s advice to never invest in businesses you can’t understand, it may be hard to justify investing in a currency made of math instead of gold.
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But what is SafeMoon and why has it garnered such an interest? And is it something you should look out for?
Safemoon crypto recently began to spike in price after the developers announced a new cryptocurrency wallet. The Safemoon digital currency wallet is coming soon and the project has been heavily advertising it. With this extra string in its bow, many are rushing to invest in the native Safemoon altcoin.
The token is set to pick up the pace with other tokens on the exchange to clearly arrive at a price of $0.0000218. A jaw-dropping optimism is also predicted for SafeMoon mainly due to its consistent performance over the years.
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Polygon is an Ethereum token that powers the Polygon Network, which aims to provide faster transactions on the Ethereum blockchain.
The week has been much more successful for some of SAFEMOON’s fellow DeFi tokens. Kava.io (KAVA) hit an all-time high on August 22, and data indicated that it has made a couple of further attempts to reach those heights since. In addition, Terra (LUNA) also achieved its latest all-time high, hitting $36.61 in the morning of August 29. This milestone is the result of an impressive total growth of nearly 30%. It also brings the token closer to a spot in the top 10 most valuable cryptocurrencies by market capitalization. LUNA is currently ranked 11th.
Inspired by the hugely popular Netflix series Squid Game, the tokens had rocketed in value.
Binance.US has decided to take a snapshot of OMG tokens held by users at the first Ethereum (L1) block, and will further distribute BOBA tokens at the ratio 1OMG=1BOBA. The estimated time is subject to change and is just for reference as of now. According to sources like this Binance review, the company is predicted to maintain its position as the global leader in cryptocurrency exchange.
Business News›Markets›Cryptocurrency›Top cryptocurrency prices today: Solana, Binance Coin fall; XRP jumps 9%
The exchange is cutting off Chinese users and will lose a third of revenues from next year, co-founder tells FT News
If you’re interested in trading the major cryptocurrencies, whether long or short term, there are many factors to consider. Do you have a high risk tolerance; are you open to volatility? Do you want to add more cryptocurrencies to your portfolio, or do you want to progress to a new asset class in time? Do you want to go for a day trading strategy, or do you prefer position trading for a longer-term approach? The following tips are key:
Very generously our tweeter credits another crypto fanatic for the remarkable analysis, who had drawn up his own chart just days earlier:
SafeMoon listed three reasons why the V2 upgrade is expected to boost the demand for the token in a recent tweet:
Perhaps a bit odd, then, to decide to chart crypto prices against US Covid cases rather than global cases, given crypto is traded globally.