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.
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It hasn't yet been recognised by the major cryptocurrency sites such as Coinbase but why did it get so popular?
Safemoon has a few unique features that have attracted both praise and criticism. For example, the Safemoon smart contract charges a 10% exit fee for holders who choose to sell. Half of this fee is ‘burned’, while the other is redistributed to remaining token holders, theoretically increasing the value of their holdings over time.
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What Happened: According to Binance U.S. market data, the Bitcoin to the U.S. dollar trading pair on Binance U.S. flash crashed within a minute from $65,815 to $8,200. This translates to a drop of 87% for the world's top cryptocurrency on the exchange according to cited market data.
"After hitting fresh milestones and hitting new ATH’s backed on the US CPI Inflation figures for October, traders began to book profits," it added. "Such corrections do not seem to be a major cause of concern just yet."
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The scope of the Binance.US error, however, was in a league of its own and did not go unnoticed by market participants.
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Despite this, any lack of trust in Binance has a knock-on effect when it comes to how users perceive its U.S. platform, due to the close association of the two. On reliability, the U.S. platform comes out on top. This does not mean that either have a good reputation. Binance has work to do, and lots of it.
Cryptocurrency values are up, but so is the price of everything else in the United States! Investor curiosity in BTC grows as data shows U.S. inflation rose to a 30-year high.
Safemoon is a member of the group of tokens known as memecoins. Memecoins are crypto tokens or coins based on internet memes. Specifically, Safemoon derives its name from a popular slang term in crypto discussion forums—’going to the moon’. This expression refers to the price of a crypto asset rising very high over a very short period.
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Mexico’s central bank on Monday swatted down the cryptocurrency enthusiasm expressed over the weekend by one of the country's leading bankers.