Safemoon is a member of the group of tokens known as memecoins. Memecoins are crypto tokens or coins based on internet memes. Specifically, Safemoon derives its name from a popular slang term in crypto discussion forums—’going to the moon’. This expression refers to the price of a crypto asset rising very high over a very short period.
One of the fastest-growing pension markets in the world could be about to dive into crypto.
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Voyager, a cryptocurrency brokerage platform, reached a 19-race deal to sponsor Cassill in the Xfinity Series in his JD Motorsports entry.
At the time of writing, Bitcoin’s value was fluctuating at around $67,921.67, or £50,107 according to Coinbase.
Even after falling back from its latest all-time high price, Bitcoin’s current price still represents a big upswing from the low $40,000 range seen in September.
(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.)
“One of our institutional traders indicated to us that they had a bug in their trading algorithm, which appears to have caused the sell-off,” Binance.US said in the statement. “We are continuing to look into the event, but understand from the trader that they have now fixed their bug and that the issue appears to have been resolved.”
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.
The breach occurred on November 3 when an “unauthorized third party” gained access to information from a number of users.
The market for cryptocurrencies has roughly quadrupled from its 2020 year-end value [File: Paul Yeung/Bloomberg]