Non-Bitcoin cryptocurrencies are collectively known as “altcoins” to distinguish them from the original.
The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin. (Pic: Shutterstock)
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Under Brooks' leadership at OCC, the regulator issued guidance regarding banks' use of stablecoins and blockchains, as well as an interpretive letter clarifying that national banks are allowed to provide cryptocurrency custody services.
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Additionally, because there is no physical product or centralized organizing body, it is hard to point to anything and say “see, that good thing happened, crypto values will increase now”. So how does cryptocurrency gain value?
SafeMoon is one such coin, which has been growing in popularity. And is gaining limelight across public platforms, garnering the interests of enthusiasts. It is a known fact that the protocol is community focussed and a fair launched De-Fi token. Substantial sources suggest that three simple functions occur during each trade.
Some investors have predicted even bigger gains for Bitcoin, despite continued criticism of the cryptocurrency by JPMorgan Chase (JPM)CEO Jamie Dimon, who has called the coin "worthless."
Although transaction fees don’t accrue to sellers, miners are permitted to prioritize fee-loaded transactions ahead of fee-free transactions when creating new blocks, even if the fee-free transactions came first in time.
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This strategy is set up to restrict the selling of the tokens and instead support its ownerships. The initiative will make the merchants think before they sell the tokens, and it gives added benefit to the current coin proprietors. This technique means to lessen the abrupt declines brought about by the sale of cryptos that result in varying prices and market fall.
This suggests that bulls have flipped the $1.24 level into support. This level could now act as a launchpad for the next leg of the up-move. The XRP/USDT pair could rally to the overhead resistance at $1.41 where the bears are expected to mount a stiff resistance.
Still, an increasing number of big, powerful players are validating crypto’s potential.
As of 8am ET on Thursday morning, it was slightly up in early trading. Bitcoin, however, was down under $65,000 at 8am ET, according to CoinBase.
Safemoon crypto recently began to spike in price after the developers announced a new cryptocurrency wallet. The Safemoon digital currency wallet is coming soon and the project has been heavily advertising it. With this extra string in its bow, many are rushing to invest in the native Safemoon altcoin.
Ricardo Salinas Pliego, a magnate with large operations in retail, banking and television who has been seen as President Andrés Manuel López Obrador’s closest business ally, wrote in his social media accounts Sunday that Bitcoin is a good investment.
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