Business News›Markets›Cryptocurrency›Binance US CEO Brooks resigns just three months into job
President of Islamic Development Bank, African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank, World Bank Group respectively.
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According to Karony, SafeMoon could soon be listed on top cryptocurrency exchanges, increasing the accessibility of the token.
As of Wednesday 9 AM (GMT+3) November 10th, here are the prices of the top 10 cryptocurrencies:
Bubbles are complex dynamics. What they all have in common, however, is they require emotion to truly go parabolic. Moreover, the less we understand the object of the bubble, the greater the scope for greed and FOMO to fill in the blanks.
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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.
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On Thursday, Brooks made the announcement in a statement describing his new employer as an established leader in the digital asset industry, renowned for its sustained research and development efforts and best-in-class proprietary technologies.
This is a stable coin, so it is pretty unique among other cryptocurrencies. Stable coins have the backing of fiat currencies such as the Euro or US dollar. This means that if an investor buys 1 Tether coin, they will have the same value of 1 fiat currency (backing the coin). Theoretically, what this means is that Tether will have a more stable value than other cryptocurrencies that suffer market volatility.
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Users must face such restrictions when using Binance. Among countries to crackdown on the company are Hong Kong, Malaysia, and Lithuania. However, many countries do have full use of Binance, and these countries present opportunities for growth in these areas for the future.
Notes: This figure plots weekly averages of log price and log network size (log of unique active addresses) of Bitcoin and Ethereum over the period from August 2015 to January 2019. We normalise both the time series by subtracting their mean and dividing by their standard deviation.
Due to their political independence and essentially impenetrable data security, cryptocurrency users enjoy benefits not available to users of traditional fiat currencies, such as the U.S. dollar, and the financial systems that those currencies support.
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Citation: Phillips RC, Gorse D (2018) Cryptocurrency price drivers: Wavelet coherence analysis revisited. PLoS ONE 13(4): e0195200. https://doi.org/10.1371/journal.pone.0195200