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"With more participants in Bitcoin, there is perhaps less volatility, which is in turn attracting more institutional investors and further promoting the stability of the popular cryptocurrency.”
As of 9:54 a.m. in New York, the overall market cap of cryptocurrencies hit $3.3 trillion, according to CoinGecko pricing. The third- and fourth-biggest tokens, Binance Coin and Solana, have added more than 20% in the past seven days; all of the seven biggest coins are up over the last week.
In June, SafeMoon launched a beta version of SafeMoon Wallet, a place for storing and trading coins and required applicants to sign non-disclosure agreements.
Both are leveraged products, meaning you only need to put up a small deposit – known as margin – to gain full exposure to the underlying market. Your profit or loss are still calculated according to the full size of your position, so leverage will magnify both profits and losses.
Crypto exchanges on a growth path shared a few common traits: they're larger, more innovative and offer more digital assets than their competitors.
The global crypto market cap fell more than 2 per cent to $2.82 trillion mark compared to the last day. However, the total crypto market volume jumped over 31 per cent to $176.91 billion.
“It’s easy to get carried away, but such aggressive growth is highly unlikely to continue forever.”
It is also important to mention that Bitrise is one of the coins that Safemoon lost whales to some time ago. This is just one sign that Safemoon is in deep trouble.
But what is SafeMoon and why has it garnered such an interest? And is it something you should look out for?
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Notes: This figure plots weekly averages of log price and log network size (log of unique active addresses) of Bitcoin and Ethereum over the period from August 2015 to January 2019. We normalise both the time series by subtracting their mean and dividing by their standard deviation.
The long term positive coherence relationship observed between online metrics and price may be the result of another factor which we hypothesise could be technical progress. As a project makes technical progress, it is likely to have a community form around it over time, increasing online activity and also demand, and hence price, of the particular cryptocurrency. An interesting avenue of future work would be to consider the coherence between price and technical progress (via looking at each projects source code repository—these are available as cryptocurrency projects are generally open-source).
As this platform does business as a separate entity from Binance, the users’ digital assets will be stored in Binance.US wallets only.
SafeMoon V2 involves the launch of an upgraded contract that has a change to the coin’s consolidation formula. Consolidation is a DeFi feature that the SafeMoon teams likens to reverse stock splits with the added idea that it will be beneficial for investors. It is a way for the team to “tidy up the numbers” without changing the actual ownership percentages among investors.
Polkadot has increased more than 9 percent in the last week. It is trading at $52.87.