Mexico’s central bank on Monday swatted down the cryptocurrency enthusiasm expressed over the weekend by one of the country's leading bankers.
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When Ethereum and Bitcoin crashed, these “discount plays” tanked. Now, as the mainstream plays begin to build momentum, these cryptos are struggling to get off the ground and make space for their own identities.
— Elizabeth Goodman is joining Husch Blackwell Strategies to launch its Phoenix office as a principal. She previously was a partner at Christian Goodman PLC.
In addition, V2 features include “increased quality, security and accessibility of SafeMoon” in anticipation of what the project describes as a “warp-speed future.”
Bitcoin uses a Proof-of-Work mining system. This means a network of miners computes complex calculations to keep the Bitcoin blockchain running. Miners earn newly minted Bitcoins as a reward for their work. Proof-of-Work allows Bitcoin to attach a physical value to its transactional system. A Bitcoin is worth a certain amount of computing power.
SafeMoon today trades around 0.0000027 a coin with a market capitalization of about $1.6 billion, sharply lower than its high of almost $6 billion in mid-May, according to CoinMarketCap.
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There's already a meme coin named after Elon Musk's new Twitter handle - and it jumped 825% in its 1st day of trading
To buy Safemoon, you have to add Binance Coin to your TrustWallet and then transfer that to Pancake Swap, where you can then buy Safemoon. This process is pretty complex, which is why many retail investors choose to invest in alternative cryptos.
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These are just two of the crypto coins challenging the dominance of Safemoon, and some like Bitrise are putting up a very tough competition to Safemoon based on the products offered, among many other features. From the powerful wallet to the exchanges, among many other products, the coin is one of toughest Safemoon competitors.
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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.
It may be a 2019 product, but it's still a premium streamer at an unbeatable price.
Laith Khalaf, financial analyst at investment platform AJ Bell, previously told The Sun that although long-term investment is encouraged, SafeMoon "doesn't sound too different from a pyramid selling scheme".