“Where digital assets land, at the end of the day … will be driven in part by regulation, both domestic and international,” Former SEC Chairman Jay Clayton recently told CNBC.
In addition, the hashtag #SAFEMOONWALLET trended on Twitter for days leading up to the intended release. It also made an appearance on a billboard at London’s Piccadilly Circus.
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New York, New York--(Newsfile Corp. - November 5, 2021) - The bullish performance of Bitrise coin has shocked many, especially the pessimist who never gave the coin a chance. The coin continues to attract thousands of members every day, with its popularity making it a trend on major platforms. Today, Safemoon community members are joining Bitrise coin, something that was unthinkable in July and thereabout.
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Meanwhile, Ethereum also hit a record — rising to $4,837.59, according to CoinMarketCap.
A feature of the Ethereum network is that it enables its users to create decentralised apps, known as ’dapps’, and smart contracts.
The scope of the operation is not unlike the search for new prime numbers, which also requires tremendous amounts of computing power.
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SafeMoon had a very promising launch and maxed out at an impressive market price of $0.00001375. Many tokens and coins have price spikes soon after launch as this is the time when interest is at its peak for new potential investments. Investors were hoping that the market price would settle somewhere around this level and continue to rise at a more sustainable rate. Unfortunately, this was not the case, SafeMoon witnessed its market price continuously drop until it was priced around $0.000003458.
One investor who wasn’t deterred was Barstool Sports Inc. founder Dave Portnoy. In May, he announced to his 2.6 million followers on Twitter that he’d bought US$40,000 worth, despite saying that SafeMoon could be a Ponzi scheme, a scam in which early investors’ returns are paid with funds coming from later buyers that collapses when new deposits dry up or too many people try to cash out.
“That’s one of the things we truly focused on, providing a means in which the community could talk to the team,” Karony said. This included ask-me-anything sessions held on Discord for the curious to learn more.
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— Ivelisse Porroa-Garcia is now director of government affairs at Ferox Strategies. She previously was policy director for the Congressional Hispanic Caucus.
Meanwhile, concerns were also mounting on Oct. 21 that leveraged traders have taken on more risk than they can chew.
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While paying for things in cryptocurrencies doesn’t make sense for most people right now, more retailers accepting payments might change that landscape in the future. It’ll likely be much longer before it’ll be a smart financial decision to spend Bitcoin on goods or services, but further institutional adoption could bring about more use-cases for everyday users, and in turn, have an impact on crypto prices. Nothing is guaranteed, but if you buy cryptocurrency as a long-term store of value, the more “real world” uses it has, the more likely demand and value will increase.