It hasn't yet been recognised by the major cryptocurrency sites such as Coinbase but why did it get so popular?
Redditors recommend buying SafeMoon on every dip. SafeMoon will continue to be appreciated by the buyers and sellers for trading on exchanges of the crypto market, with a solid increase in price showing a potential of $0.009 over this year. Reddit Community
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But what is SafeMoon and why has it garnered such an interest? And is it something you should look out for?
How does cryptocurrency gain value? Like any market, the value of cryptocurrencies fluctuates based on the market’s perception of its value at any given time. These fluctuations may be rooted in some of the supply and demand factors mentioned above or can happen as a result of hidden market factors. Buy low, sell high – using the classic investment strategy, users can increase the value of crypto by buying and holding coins. The buying increases demand and hence crypto value increases.Mining – the act of mining Bitcoins or altcoins can be profitable. It also impacts the supply of cryptocurrencies.Increasing utility – as more institutions invest in crypto and accept it as a form of payment, its utility increases. As a user, you can contribute to this process. This will increase the value of cryptocurrencies over the long term. Media coverage – crypto prices fluctuate according to media coverage. Users can impact this through their social media accounts. Conclusion
Binance launched the U.S. arm in 2019. But the company’s main exchange, initially based in China, blocked Americans in an effort to stay on the right side of regulators.
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Meanwhile, Ethereum also hit a record — rising to $4,837.59, according to CoinMarketCap.
Both are leveraged products, meaning you only need to put up a small deposit – known as margin – to gain full exposure to the underlying market. Your profit or loss are still calculated according to the full size of your position, so leverage will magnify both profits and losses.
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There are several reasons why investors find this cryptocurrency appealing, and the chief of that is its affordable price. However, this coin has also shown that its value can rise well enough over the years, and it still has plenty of room for growth.
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The crypto prices today are trading in the red as Bitcoin, as well as the altcoins, have retreated after a strong week of rallies to new all-time highs.
The price of Bitcoin was £48,199.49 after the latest drop in prices (11 November), according to Coinbase.
Cryptocurrency is going mainstream — and becoming increasingly difficult for investors to ignore.
This breakout happened in the recent weekend and consequently the uptrend resumed and Bitcoin is now on way to challenge its previous life high yet again.
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