The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin.
It is also important to mention that Bitrise is one of the coins that Safemoon lost whales to a while back. This is just one of the signs that Safemoon is in deep trouble.
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Since Binance doesn't allow for US Dollar deposits and trading, most of the volume on the exchange occurs against stablecoin pairs such as BTC/USDT, BTC/USDC, and BTC/BUSD (BUSD is Binance's native stablecoin). One other factor to note is that although Binance does have more volume than any other exchange, that volume is spread across a much larger pool of cryptocurrencies than other exchanges such as Coinbase and Kraken. Therefore, it's always important to look at the specific asset you're interested in trading in order to determine how liquid (or illiquid) it is.
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The electric carmaker said in May that it would no longer accept the cryptocurrency for purchases. It's been a wild ride for bitcoin the last three years.
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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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GURA: Their market cap worldwide is now close to $2.5 trillion, which is almost as large as the GDP of France. Even the big Wall Street banks now trade bitcoin. And Gary Gensler, the head of the Securities and Exchange Commission, shares Warren's concerns. Here's what he said in a recent speech.
At the moment, Binance.US officials promise that this gradual coverage is only the beginning, making it their mission to eventually include as many US states as possible.
According to Cointelegraph business editor Sam Bourgi, Bitcoin is viewed by many as the best “hard money” alternative to sovereign currencies and:
Coinbase made headlines recently as the first crypto exchange to go public on the Nasdaq, and established firms like Fidelity are adding crypto to their investment offerings. The adoption of online payments using crypto is growing too, thanks to brands ranging from legacy publisher (and NextAdvisor partner) TIME to digital payment facilitator PayPal and international auction house Sotheby’s.
Cryptocurrency, the blockchain-based digital currency that has captured the interest of investors and financial service firms alike, has a challenging problem. It can be hard to actually spend this currency like you would regular money.
Competing interests: The authors have declared that no competing interests exist.