Blocto, the NFT and crypto wallet has confirmed that the Dallas Mavericks owner and serial investor Mark Cuban has invested in the company.
A cryptocurrency is, most simply, a digital asset. It is called a currency because it was created to work as a medium of exchange in the same way that we use fiat currencies now.
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Plenty of altcoins have also taken a beating. Dogecoin erased the breakneck gains of the week and then some, nearly halving its price after a meteoric climb last weekend. XRP is down 35% week-over-week, Stellar is down 30% and Polkadot is down 25% since last week.
However, cryptocurrency is unique as it is typically decentralised so there is no control from government interference. Cryptocurrency uses something called a blockchain.
SafeMoon had a very promising launch and maxed out at an impressive market price of $0.00001375. Many tokens and coins have price spikes soon after launch as this is the time when interest is at its peak for new potential investments. Investors were hoping that the market price would settle somewhere around this level and continue to rise at a more sustainable rate. Unfortunately, this was not the case, SafeMoon witnessed its market price continuously drop until it was priced around $0.000003458.
SafeMoon doesn't tout itself as a cryptocurrency but instead as a DeFi token, a decentralised finance token. DeFi’s aim is to bring about disruption to the financial world and enable people to lend in peer-to-peer networks without needing a physical bank.
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New Delhi: Major cryptocurrencies witnessed a fall on Thursday amid global inflation concerns, which made other currencies and gold attractive. Barring Solana, all other nine out of the top 10 cryptocurrencies were trading lower at 9.30 hours IST. Cardano, Dogecoin and Polkadot shed up to 5 per cent each.
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Discrepancy in price of token on spot and futures markets opens opportunities for arbitrageurs
The cryptocurrency market is a vast and sometimes confusing place with different coins to choose from.
As of November 9, SafeMoon has 2,865,000 holders. There has been a consistent rise in the number of SafeMoon holders over the past two months.
“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.”
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Amazon scam: what are the fraudulent phone calls, how to spot one - and what to do if you receive a bogus call
And, while it has big ambitions, its current market value is someway below the $1 dollar threshold - but has experienced a steady increase in price since its launch.