There is also a 25% discount to your fee if you use Binance Coin (BNB) to pay your transaction fee. To do this, you just have to hold Binance Coin in your Binance.US account, and your trading fee will be automatically deducted from your Binance Coin balance.
Ahead of the SafeMoon wallet release, its eponymous native token’s price was on a steady upward crawl. Beginning the week at $0.00000184, it made its way up to $0.00000365 by August 28. However, this proved a brief moment in the sun for SAFEMOON as two hours after the wallet’s intended release, the price crashed back down to $0.00000292. From this figure, the token’s value has continued to tumble. At time of press, SAFEMOON was down 22.2%, with a value at that time of $0.00000281.
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There are quite a few speculations going forward for SafeMoon. Especially keeping in perspective the technological announcements and booming sectors of progress the corporate has designs on, there are assumptions its price may reach $0.0000171. The favor is done by majorly security and scalability features. The exciting promotional ventures may do the rest, making the buyers/sellers harvest the gains.
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The NYDFS is known for being especially rigorous in its approach to cryptocurrency businesses compared to other state regulators, requiring an exacting review of capital requirements and policies regarding money laundering, fraud, capitalization, consumer protection, and cybersecurity. It's an unpopular approach among many in the crypto industry, some of whom have even opted to pull business out of New York rather than bear the high cost of compliance.
Binance, the original platform, despite its many outages in recent months, stands out from its U.S. counterpart. The range of cryptocurrencies, features, and ease of use far out does Binance.US. Many hope that the number of faults and outages will reduce going forward.
Squid was billed as a token that could be used for a new online game inspired by the Netflix series - which tells the story of a group of people forced to play deadly children's games for money. The game was due to go live this month.
SafeMoon’s upcoming upgrade, V2, is expected to enhance the token’s security, quality and accessibility. The SafeMoon community widely anticipates the launch of the V2 upgrade, and investors expect SafeMoon to recover from the recent drop in price.
This disparity in fee structure favors users outside the U.S., where the higher fees may be related to tighter regulation of crypto in the country. By comparison to other platforms, the fee structure of Binance.US and Binance looks more complicated. Users from outside the U.S. benefit from lower fees.
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The liquidity pool of a crypto exchange is important because it determines what kind of crypto can be exchanged or traded and how much each trade will change the price. The liquidity pool is the total of all of the currency deposited on the exchange by every trader. If this pool is small, then every transaction can have a noticeable effect on the price of the crypto in the exchange. This instability makes it very difficult for a trader to predict how much of each currency they can get at any given time.
Usually, when you buy stocks or cryptocurrency, the price chart is a valuable tool in your analysis. However, the combination of Safemoon’s short price history and low liquidity means that the price chart doesn’t tell us as much as it would with other cryptos. The huge spikes in April and May have been followed by a sustained decline, which has led the price to where it is right now.
The name SafeMoon extends to “Safely to the Moon” and auctions itself as a Defi token. This getting to the moon expression was first presented with Dogecoin, and now SafeMoon follows it too. It is a decentralized money token that is like other cryptos such as Bitcoin and means to retouch the occurrence of unpredictability issues, in contrast to different currencies.
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Overall, it appears from these results that cryptocurrencies may experience short term intervals of co-movement, caused by sector wide news or cross market contagion, though correlation is likely to change dependent on the nature of the causal event and market environment. In the medium and longer term Bitcoin and Litecoin are strongly related; it is believed this is due to their similarity.
Bitcoin price hits new record high - why is Bitcoin up today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu (Image credit: Getty Images/Canva Pro)