SAFEMOON launched earlier this year - and it's already attracting attention from cryptocurrency investors.
Musk has been a long-time advocate of cryptocurrencies and the Tesla decision was felt across the market, with other digital tokens going down in price.
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It is a meme coin in the same sense as Shiba Inu, but has failed to live up to its promises. SafeMoon is the perfect example of why having a product first is what matters. Investors bought into the token thanks to its promises, and now the token is plummeting. It is a story warning investors of falling for grandiosity.
In the meantime, if you’re looking to invest in alternative cryptocurrencies, then we’d recommend eToro. eToro is one of the world’s largest online brokers and has over 20 million users globally. What’s more, eToro is regulated by the FCA, ASIC, and CySEC, allowing you to trade safely.
But to understand the dynamic that led to this year’s depressing year for crypto, we actually should start a few years before 2018. In bitcoin’s early days, Mt. Gox was the go-to service for handling transactions. Then, in 2014, it halted transactions and slowly copped to a crypto-hack to the tune of $473 million, the biggest hack of its kind at the time, and it gave many people pause. But it was still early enough for people to believe that the blockchain system was still getting all the technical kinks out.
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"It is one of many schemes by which naïve retail investors are drawn in and exploited by malevolent crypto promoters," Cornell University economist Eswar Prasad told the BBC.
Despite the massive swing in value on the Binance US exchange, Bitcoin’s value on other exchanges remained stable. There has been speculation on the exact cause of the spike, though Binance offered a short statement to Bloomberg explaining that one of its institutional traders was responsible.
Going by the technical analysis, showing the least resistance and support levels, SafeMoon price has had a historic voyage throughout, which could be the main reason for its popularity. Based on technical analysis, the current price of the SafeMoon token stands around $0.000005 with a market cap of $2,924,837,695. The 24 hours trading volume of the SafeMoon token stands at $35,099,950 with a circulating supply of 585,536,366,402,812 SAFEMOON. There are predictions galore by experts, and their forecast is worth pursuing, helping you decide to buy or sell the SafeMoon tokens.
Since Binance doesn't allow for US Dollar deposits and trading, most of the volume on the exchange occurs against stablecoin pairs such as BTC/USDT, BTC/USDC, and BTC/BUSD (BUSD is Binance's native stablecoin). One other factor to note is that although Binance does have more volume than any other exchange, that volume is spread across a much larger pool of cryptocurrencies than other exchanges such as Coinbase and Kraken. Therefore, it's always important to look at the specific asset you're interested in trading in order to determine how liquid (or illiquid) it is.
An OpenSea employee used insider knowledge to buy tokens before they appeared on the front page. Alexis Ohanian showed off the NFT he bought for Serena Williams at the Met Gala
Top GainersTop LosersMost Active - VolumeTop By Circulating SupplyTop Currencies By MCap
It was a rough year for bitcoin–and cryptocurrencies in general. Here’s a look at how we got here.
Marketplaces allow users to promote their NFTs, where buyers can browse through and bid on what they would like to purchase.
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)
Yet, trading on Binance.US obliges the customers to undergo the KYC (know your customer) procedure. First, the users are required to go through either of four types of verification available on the platform:
The reason behind such revolutionary growth is originally the team behind this project. Its impressive growth is evident from the fact that in just 1 month of launch, it has reached 45k holders and has already paid out $8 Million in reflection to holders of its native token, $EGC. With such an outstanding track record, the project has also clinched the market cap of $600 Million, which is remarkable.