The debacle was tinged with irony, coming just as Binance CEO Changpeng Zhao, also known as CZ, warned about incoming volatility.
We can speculate on what value cryptocurrency may have for investors in the coming months and years (and many will), but the reality is it’s still a new and speculative investment, without much history on which to base predictions. No matter what a given expert thinks or says, no one really knows. That’s why it’s important to only invest what you’re prepared to lose, and stick to more conventional investments for long-term wealth building.
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There was also a big debate on Safemoon tokenomics. Most of the competing coins have a more attractive and innovative tokenomic than Safemoon. While the Bitrise coin has an automated redemption and burn process, Safemoon burns manually. This means that the liquidity regulation of the Safemoon token is less transparent.
According to an article in yesterday’s New York Times (NYT), Brian Brooks departed the CEO position at Binance.US when a $100 million venture capital funding fell through. He’d been in the position for just over three months.
When that’s the case and demand increases, the price of that underlying asset goes up. Roughly speaking, this is the simplest way to address how the prices of cryptos fluctuate.
Citation: Phillips RC, Gorse D (2018) Cryptocurrency price drivers: Wavelet coherence analysis revisited. PLoS ONE 13(4): e0195200. https://doi.org/10.1371/journal.pone.0195200
A top official said Zimbabwe is looking to allow cryptocurrency as legal payment, according to a local report Sunday.
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At Cointelegraph, we are chronicling the ongoing story of cryptocurrency and the rise of a borderless, permissionless financial system. How will industry stakeholders work to make crypto a mainstay in people’s lives? How will crypto investments change the paradigm of the current financial system? And will incumbent and legacy systems accept or fight this change?
The Biden administration is taking steps to ensure Americans who pay for goods or services with cryptocurrencies don’t sidestep the tax man.
“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,” she said.
DeFi and NFT expert Rio Rocket told The Sun that he is hearing "rumblings" from investors noting that they are "unable to take large-scale profits."
Despite this incident, crypto industry experts keep speculating about where Bitcoin's price is headed next with some suggesting it will soon hit $80,000. This past Friday, Bloomberg reported Bitcoin was headed for $80,000 to $85,000, while a crypto data expert said resistance at $60,000 would have provided the last buying opportunity before the coin would head for new all-time highs.
"There are a lot of things in flux, but I would say [we'll launch] in a month or two," Zhao, better known as CZ, told Cheddar in an interview Wednesday.
But what is SafeMoon and why has it garnered such an interest? And is it something you should look out for?
As transactions increase, the service charge will be gradually decreased up to by 10%, thus bridging the gap between early and late investors. 4JNET’s early investors need to pay high service charges even if they buy at an earlier time, which are automatically put into the liquidity pool to promote steady price increase and alleviate price instability that results from the selling pressure.