But even this kind of pullback could not kill the inherent uptrend and in one of our previous reports, we mentioned that a breakout above $62,500 was required for BTC to resume strength.
Some experts say this is high risk as SafeMoon’s success relies heavily on more and more people buying the currency to keep the price up.
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A daily roundup of news and information about Bitcoin, Ethereum, Dogecoin and more, this page has everything you need to know about cryptocurrency. The pricing of cryptocurrency changes very frequently and remains highly volatile. Even looking at only the most well-known crypto tokens such as Bitcoin, Ether (not to be confused with the Ethereum network for which it is the native token), Dogecoin, Litecoin and Ripple, there has been a lot of movement in their value.
We reached out to Binance.US for more information about its security measures and received no response. We’ll update the review if Binance.US gets back to us.
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These token burns are designed to increase the scarcity of the token and push the value higher. Safemoon initially launched with a circulating supply of one quadrillion tokens (!!!), although the development team burned 223 trillion of these right away. Over 400 trillion tokens have been burned so far, with this figure continuing to grow as the months go by.
But before you look further make sure you’re aware of the risks when it comes to cryptocurrencies in general.
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ITVGMB has received Ofcom complaints after Dr Hilary Joned branded yellow card leaflets ‘a hoax’.
You might recall that back in the very early days of Covid-19 (or just “coronavirus” as it was then known), some crypto nutters enthusiasts started getting excited about the idea that the virus would be good for bitcoin because “paper money” “might be the source of #CORONAVIRUS #SARS2 infection”. After all, “fiat is dirty”:
Murder accused claims Arthur Labinjo-Hughes 'threw himself up wall, floor and door' before death
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Even if this were the case, and Safemoon coin was to increase in price dramatically before an instant fall, it would still represent a good investment for purely speculative investors. For example, if Safemoon were to simply return to the all-time high experienced on April 20th, then that would represent an incredible 921% return from today’s price!
One key thing to look out for is Safemoon to be added as a tradeable asset by a major broker or crypto exchange. Many of the best trading platforms will allow users to request assets to be added to the platform. If a request gets enough traction, the platform may look into its viability and then decide whether or not to add it.
Cryptocurrency, the blockchain-based digital currency that has captured the interest of investors and financial service firms alike, has a challenging problem. It can be hard to actually spend this currency like you would regular money.
Biais, B., C. Bisiere, M. Bouvard, C. Casamatta, and A. J. Menkveld (2018), “Equilibrium Bitcoin pricing”, Working paper .