The crypto community is witnessing impressive growth in the fourth quarter. With several altcoins rising out of the odds. Meanwhile, the dominance of the star crypto is at 41.4%. Numerous newer and lesser-known coins in the crypto industry are giving out impressive returns, leaving out top-tier coins behind the dust.
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"It is one of many schemes by which naïve retail investors are drawn in and exploited by malevolent crypto promoters," Cornell University economist Eswar Prasad told the BBC.
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Bitcoin set another new all-time high Wednesday afternoon over $68,000. And then it promptly dropped down to below $65,000, where it remains Thursday morning.
When the spectre of restrictive regulation hovers over the cryptocurrency markets, steep drops invariably occur. If it happens to concern China or the US, brace yourself if you’re an investor—the market never stops trading, and what took months to build can crumble to nothing in an afternoon.
But the hacks didn’t stop. In 2016, the DAO–a blockchain organization that was based on Ethereum–lost what was worth $50 million at the time, due to a technical error someone seized upon. This, once again, sent shockwaves through the community–but also had the unfortunate impact of normalizing these types of hacks for some people.
Regulation across borders has to keep up with the rapidly advancing pace of cryptocurrency development. Due to the decentralized nature of cryptocurrencies, this is a complex matter, with international disagreement ranging from the legitimacy of currency status, or even whether they should be made illegal.
SafeMoon listed three reasons why the V2 upgrade is expected to boost the demand for the token in a recent tweet:
The factors leading to SafeMoon’s adoption by institutions and companies primarily are based on the following fundamentals of the latest news that certify SafeMoon a good investment:
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However, as the price is pretty much at the same level as it was in April, if you were to invest in Safemoon token for purely speculative reasons, then this level would be a decent area to buy at. There seems to be a minor support level around the area that price is currently at, which provides an optimal place to buy. Again, due to the low liquidity and lack of trading volume, this support level may not hold – so it’s worth considering this risk before investing.
Loopring263 (-11.33%) The Graph89.07 (-9.49%) Internet Computer3,882 (-9.45%) Theta Network594 (-8.96%)
SafeMoon recorded a 99% rise in one day in April after Bitcoin had its biggest single drop for months.
We explain what you need to know about SafeMoon and how its price is predicted to change in 2021.
Shortly after Bitcoin’s latest all-time high, Ethereum marked its own new all-time high last month when its price went over $4,400.