SafeMoon is a newly added cryptocurrency that has seen a rise in its rates since its launch in March 2021.
The reason behind such revolutionary growth is originally the team behind this project. Its impressive growth is evident from the fact that in just 1 month of launch, it has reached 45k holders and has already paid out $8 Million in reflection to holders of its native token, $EGC. With such an outstanding track record, the project has also clinched the market cap of $600 Million, which is remarkable.
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Nevertheless, a decisive four-hour candlestick close below the $3,922 level could lead to a steeper correction. Ethereum could then dive to look for support around the 100 four-hour moving average at $3,700 or even test the 200 four-hour moving average at $3,400.
The breach occurred on November 3 when an “unauthorized third party” gained access to information from a number of users.
There are so many areas Safemoon is falling short. In the products, there is so much competition Safemoon is getting from the likes of Bitrise crypto coin. For instance, Safemoon wallet is deemed inferior to Bitrise dApp wallet.
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But first, a word of warning: buying cryptocurrencies and decentralised finance tokens as well as stocks and shares is a risky business.
ProShares Bitcoin Strategy ETF, which began trading late last month, was up 10.95% on Monday.
Furthermore, With Bitrise, users can trade thousands of tokens with ease and at a minimal cost. They will no longer need to use Pancakeswap or Uniswap to buy/sell them because this new wallet has all that you would ever want.
SafeMoon is one of the most popular new cryptocurrencies of 2021, but can you buy the currency on the Coinbase or Binance exchanges?
Margin is a key part of leveraged trading. It is the term used to describe the initial deposit you put up to open and maintain a leveraged position. When you are trading cryptocurrencies on margin, remember that your margin requirement will change depending on your broker, and how large your trade size is.
You can also buy Safemoon from a centralized exchange like BitLink that lists Safemoon for sale.
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It came after the electric car company bought $1.5b (£1.06b) of Bitcoin shares, which in turn sent the market price of both the crypto and Tesla soaring.