Charlie Barton, an investment specialist at comparison site Finder, warned in mid-May: “The performance of Polygon has been extremely strong recently, achieving 10,000% growth in the last year.”
You can't ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls
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Here’s our guide to crypto, and why so many people are talking about it these days.
Binance Coin (BNB) slipped below the $630 support on Nov. 11 but the bears could not sustain the lower levels. The altcoin staged a strong recovery and the bulls are now trying to push the price above $669.30.
Billionaire Elon Musk hasn’t gotten involved yet like he has with Dogecoin and Shiba, but that’s always a possibility.
As of Wednesday 9 AM (GMT+3) November 10th, here are the prices of the top 10 cryptocurrencies:
Regulation has come into play worldwide with the growth of the crypto industry. Over the years, the United States has increasingly stepped up its overwatch of the space. The Securities and Exchange Commission (SEC) cracked down on initial coin offerings, or ICOs, after the mania of 2017 and 2018. The Commodity Futures Trading Commission (CFTC) and other U.S. agencies have also engaged in various capacities.
These are just two of the crypto coins challenging the dominance of Safemoon, and some like Bitrise are putting up a very tough competition to Safemoon based on the products offered, among many other features. From the powerful wallet to the exchanges, among many other products, the coin is one of toughest Safemoon competitors.
As of Wednesday 9 AM (GMT+3) November 10th, here are the prices of the top 10 cryptocurrencies:
Despite its success, SafeMoon still remains to be an undervalued crypto among the investors’ community. The coin is still in its initial days as it was launched in March, 2021. Early investors would be rewarded in the long run when the token finds it way into top trading platforms.
Binance has grown into the world's largest cryptocurrency exchange. During the month of May, Binance had spot trading volume of approximately $1.5 trillion, which was a 63% increase from April. As you can see in the image below, the volume traded on Binance is significantly higher than its closest competitors, Huobi and Okex.
Cryptocurrencies are seen as an alternative to traditional banking methods, cheaper to move money around due to not being regulated by the government or its banks.
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The SHIB/USDT pair formed a Doji candlestick pattern on Nov. 9 that resolved to the downside on Nov. 10. If bears sustain the price below the 20-day EMA ($0.000053), the pair could drop to the 78.6% Fibonacci retracement level at $0.000040 and then to the 50-day SMA ($0.000033).