Unlike other cryptocurrencies, SafeMoon claims it will reward people who buy its token and hold on to it rather than trade - for which there are penalties in place.
Gensler recently went so far as to say investors are “likely to get hurt” if stricter regulation is not introduced. Plus, the IRS has an obvious interest in making sure investors know how to report virtual currency when they file their taxes.
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We’ll go through the several factors that influence demand for a particular crypto, but before we do that, it’s important to note that cryptocurrencies don’t fit comfortably into our existing asset categories.
Many lesser-used cryptocurrencies can only be exchanged through private, peer-to-peer transfers, meaning they’re not very liquid and are hard to value relative to other currencies — both crypto- and fiat.
The overall market cap of cryptocurrencies hit $3.3 trillion on Monday, according to CoinGecko pricing.
The recent trading frenzy over a digital token called Shiba Inu — commonly billed as a “meme” or joke coin — has vaulted the canine-themed cryptocurrency into the top ten most valuable digital assets by market value, hitting $40 billion and surpassing its cousin and apparent inspiration, Dogecoin.
The phenomenon has occurred more frequently in recent days, with Bitstamp also seeing freak order-book events.
Ripple also put heavy investments into non-fungible token projects using the XRP ledger – a public blockchain. Many experts claim that this investment puts Ripple in the position to be an “Ethereum killer.”
MIAMI (AP) — El Salvador is betting that this week's pioneering adoption of Bitcoin will spur its economy, especially one of its most crucial sources of revenue: money sent home by Salvadorans in the United States.
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Cryptocurrency is an asset that can be exchange for goods and services, much like normal money.
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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.