Interestingly, the breakout was initiated right as a report from the United States Bureau of Labor Statistics (BLS) showed a sharp 6.2% annual rise in the Consumer Price Index (CPI), a figure that has hit its highest mark in 30 years.
Get Insights on Asia in your inbox Register for our newsletters
.
But what is SafeMoon and why has it garnered such an interest? And is it something you should look out for?
It’s not a very difficult task to invest in cryptocurrency, thanks to the easy access available to crypto exchanges and deep penetration of the internet and smartphones. Technology has eased the access to digital currencies for potential investors. To invest in cryptocurrencies, investors need to first do some homework for choosing the right cryptocurrency and crypto exchange. One can buy these currencies using their home currencies, or US dollars, from his/her preferred exchange. However, there are some currencies that accept investment only in Bitcoins or other cryptocurrencies.
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.
Six out of the top-10 cryptocurrencies were trading higher at 9.30 hours IST. Binance Coin and Solana witnessed profit booking whereas XRP gained 9 per cent.
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.
This is one of the very few cryptocurrencies that reached their peak after 2017 – a year in which there was a big bull market and many cryptocurrency prices rose to their peak, then plateaued before the prices started to fall again. However, unlike many other coins, Binance Coin continued to experience a slow and consistent upward trend after 2017. As stated in an assignment writing service, this coin’s consistent and stable performance is one of the reasons it is regarded as a stable investment option because it poses fewer risks.
Sovereign Gold BondCryptocurrencyStock ScreenerSensexStock MarketStock RecommendationsIPOUpcoming IPOGold RateTop GainersRupee vs DollarShare MarketSilver PriceNifty 50Nifty BankInfosys Share PriceCrude Oil Price
Ripple also put heavy investments into non-fungible token projects using the XRP ledger – a public blockchain. Many experts claim that this investment puts Ripple in the position to be an “Ethereum killer.”
How and where to buy Safemoon cryptoVisit PancakeSwap.Connect a cryptocurrency wallet.Fund the wallet with Binance Smart Chain (BSC).Select BNB in the top trading field via PancakeSwap.In the second field, click “Select a currency” and then search Safemoon.Open the settings menu and set the slippage to 12%.Input the amount of Binance Coin to trade.Confirm the swap to complete the process.What is the Safemoon crypto symbol?
Blockchain. A permanent online ledger that functions as a public accounting of cybercurrency transactions that have been executed. New “blocks” are added to the blockchain after the confirmation of each set of transactions.
China is one market to impose strict regulation that impacted prices. In February 2018, the country blocked its citizens from accessing websites that offer cryptocurrency trading services, prompting a 15% fall in Bitcoin and 20% plunge for Ether. Similarly, in January 2018, Bitcoin’s price was hit by new South Korean legislation requiring traders to reveal their identity.
Cryptocurrency is an asset that can be exchange for goods and services, much like normal money.
Just a few hours left! Lightning Deal: Amazon's $16 sweats are comfy, stylish — and our new obsession
US cryptocurrency exchange Coinbase Global Inc on Tuesday reported a nearly 30% fall in third-quarter trading volumes on a sequential basis, hit by lower volatility and declining prices of Bitcoin and other cryptocurrencies.
By late 2010, the first of what would eventually be dozens of similar cryptocurrencies — including popular alternatives like Litecoin — began appearing. The first public Bitcoin exchanges appeared around this time as well.