LifestyleMoneyWhy is crypto down today? Cryptocurrency market crash, China ban - prices of Bitcoin, Shiba Inu and Ethereum
A digital token inspired by the popular South Korean Netflix series Squid Game has lost almost all of its value as it was revealed to be an apparent scam.
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The debacle was tinged with irony, coming just as Binance CEO Changpeng Zhao, also known as CZ, warned about incoming volatility.
The team is soon launching the network's revenue share program and the staking process. The announcement triggered a surge in the number of new investors, including many Safemoon members. Everyone wants to stake a Bitrise coin and enjoy the 80% APY as well as earn the BNB rewards for holding the token.
Safemoon launched on Binance Smart Chain (BSC) on March 8, which saw a 200-time increase within less than a month. That is to say, if someone invested 10,000 of the native token RMB 10,000 on March 3, they will have 2,000,000 RMB in April. Although Safemoon’s price has fallen to $0.000003, the investors may still be exposed to high rewards if they buy Safemoon now.
Binance U.S.’ trading algorithm suffered from a bug that resulted in a Bitcoin flash crash on Oct. 21. Although prices recovered quickly, both cryptocurrencies are now trying to hold support to avoid further losses.
The majority of cryptocurrencies function without the backing of a central bank or government. Instead of relying on government guarantees, decentralized technology called blockchain underpins the operation of cryptocurrencies.
The worldwide crypto market capitalization is currently $2.90 trillion, decreasing 1.25% over the last day. (Shutterstock)
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It seems all too fitting that Facebook’s plans to launch a digital coin were leaked in the second-to-last week of a year that saw the tech giant’s reputation pummeled and cryptocurrencies crash and burn. It’s like grilling a shit sandwich over a dumpster fire.
However, as scheduled, the Binance community should expect the Axie-listing today exactly at 8 am EST / 5 am PST. As we are all waiting for the event, users currently have the option to deposit their AXS in preparation for trading.
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Blockchain technology has unique security features that normal computer files do not have.
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