It is the latest cryptocurrency to have seen a spike in interest since the turn of the year, following on from the success of Dogecoin, Bitcoin and Ripple XRP in recent weeks.
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Yield farming involves lending cryptocurrency in exchange for interest payments and other rewards - but it comes with a high degree of risk.
Six out of the top-10 cryptocurrencies were trading higher at 9.30 hours IST. Binance Coin and Solana witnessed profit booking whereas XRP gained 9 per cent.
However, as scheduled, the Binance community should expect the Axie-listing today exactly at 8 am EST / 5 am PST. As we are all waiting for the event, users currently have the option to deposit their AXS in preparation for trading.
SafeMoon app has crossed 600,000 downloads. The team has announced that Bitcoin and Dogecoin will soon be added to the wallet. The partnership with Unicrypt, the multi-chain decentralized protocol, has kept V2 consolidation on track.
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Assets hovered at record highs even after the Fed said that "asset prices may be vulnerable to significant declines."
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In 2017, Changpeng Zhao (also known as CZ), founded Binance. Zhao’s background includes developing high frequency trading software as well as working as an executive at another cryptocurrency exchange, OKCoin.
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Considering there are no sudden jolts or risks ahead for cryptocurrency markets, SafeMoon is all set to affirm its strong position as a major attraction among its investor community. The road ahead is full of petals provided the investor confidence keeps booming, resulting in a major push to the price, taking it across all barriers scaling $0.000011.
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This positive view will invalidate if the price turns down from the current level or the overhead resistance and plummets below the support line of the wedge.
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“I haven’t encountered many who would try to put up more barriers for new users,” said Maria Shen, a partner at Electric Capital, a venture capital firm focused on cryptocurrencies. Still, she added, “the wallet space is fairly competitive, so it’s not unthinkable.”