Facebook’s closely guarded Libra project could be the first true cryptocurrency alternative to fiat currencies, although its growing pains suggest that true parity remains well in the future.
SafeMoon is not yet listed on Coinbase or Binance. However, the currency does hope it will achieve this in the future.
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It was a rough year for bitcoin–and cryptocurrencies in general. Here’s a look at how we got here.
The supply of a cryptocurrency depends on how many new coins are being mined and how many current owners want to sell their coins.
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However, cryptocurrency is unique as it is typically decentralised so there is no control from government interference. Cryptocurrency uses something called a blockchain.
Bitcoin price recently recorded a new all-time high at near $69,000 on November 10 fueled by sustained inflation. The argument that the leading cryptocurrency is a hedge against rising cost pressures has been fueled by inflationary fears. More Bitcoin News Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive
In the past 24 hours, the cryptocurrency has surged 93%. It's currently trading at less than $0.000000000001, according to CoinMarketCap.
Another factor that crypto experts have mentioned regarding the competitiveness of Safemoon coin is the speed of releasing products. Since the Safemoon token was launched, only the Safemoon has been released. All other Safemoon products are in the development stage. This is not the case with the Safemoon coin competition, like Bitrise, which in short has released multiple products, including a super dApp wallet.
Bitcoin operates on its own blockchain, and so does Ether. The Binance Smart Chain is a separate blockchain that inherits many software features and protocols from the Ethereum network. One feature of the Ethereum network (and thus also the BSC) is the ability to host software programs (called smart contracts).
With such tokenomics, Bitrise coin is attracting thousands of investors, even from the most popular coins.
SafeMoon doesn't tout itself as a cryptocurrency but instead as a DeFi token, a decentralised finance token. DeFi’s aim is to bring about disruption to the financial world and enable people to lend in peer-to-peer networks without needing a physical bank.
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SafeMoon price struggles to establish a clear floor after pulling back nearly 50% from the all-time highs it established in late October. Last Friday showed some evidence that a continuation move higher may occur, but that quickly fizzled out.
The data affected by the leak includes email addresses for about 5 million users. The full names of 2 million users were also leaked.
Safemoon members are now joining competing crypto coins, like Bitrise, in thousands, and this could continue if Safemoon team does not address the fundamental issues. However, Safemoon remains as one of the strong crypto coins, but the dominance might be short-lived.
The billionaire founder of Citadel also expressed bewilderment with Elon Musk's decision to ask Twitter if he should sell 10% of his Tesla stake.