Crypto exchanges on a growth path shared a few common traits: they're larger, more innovative and offer more digital assets than their competitors.
Bitcoin’s bullish price rise to near $70,000 in value comes as investors hope to see the $1 trillion market cap remain firmly in place ahead of a volatile trading period.
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Yahoo Finance Live's Brian Sozzi, Julie Hyman, and Emily McCormick discuss the stock rebound for Tesla after founder Elon Musk sells $5 billion of his shares following a Twitter poll, while EV newcomer Rivian tops expectations in his IPO debut.
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Elon Musk’s announcement that Tesla would no longer be accepting Bitcoin as payment on environmental concerns was followed by China issuing a crypto crackdown.
Ultimately, the future of cryptocurrencies — their value, security, and staying power — is still up in the air. But the experts we spoke to believe owning some crypto could create value over time. Whatever your interest or motivation, experts stress the importance of making sure you understand the unique volatility and risk factors of cryptocurrency before investing.
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Safemoon members are now joining in the thousands with competing cryptocurrencies, like Bitrise, and this could continue if the Safemoon team does not address the fundamental issues. However, Safemoon remains one of the most powerful crypto coins out there, but dominance may be short-lived.
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On the other hand, cryptocurrencies come with a host of risks and drawbacks, such as illiquidity and value volatility, that don’t affect many fiat currencies.
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“One of our institutional traders indicated to us that they had a bug in their trading algorithm, which appears to have caused the sell-off,” Binance.US said in the statement. “We are continuing to look into the event, but understand from the trader that they have now fixed their bug and that the issue appears to have been resolved.”