Bitcoin, Ether Crypto Coins Surge to New Highs Before Correction, Shiba Inu, Dogecoin Slip Continues
Bitcoin is increasingly viewed as a legitimate means of exchange. Many well-known companies accept Bitcoin payments, although most partner with an exchange to convert Bitcoin into U.S. dollars before receiving their funds.
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The plunge occurred at 7:34 a.m. New York time, according to the Binance.US website. Volume on the exchange in that minute was 592.8 Bitcoin, which are worth just shy of $40 million at current prevailing prices.
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Both ideas are about making a few people rich, not about building a decentralised paradise where everyone prospers
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It's likely SafeMoon - the 203rd-ranked cryptocurrency on CoinMarketCap - will eventually be listed on further exchanges. This is especially likely after Coinbase CEO Brian Armstrong tweeted in June: "Our goal is to list *every* asset where it is legal to do so."
The CFPB names more specific risks that consumers should be prepared for, including volatile exchange rates, potential high fees on exchange platforms, and fraud risk. If your funds are lost or stolen, they can be especially difficult to recover, thanks to the decentralized nature of blockchain and lack of any governmental oversight.
CRYPTOCURRENCIES are a form of payment that can be exchanged for goods and services.
Ethereum gained 3.85% to $4,720 and Dogecoin was trading 9.73% higher at $0.2858. Digital token Stellar climbed 3.72% to $0.3733 and XRP zoomed 8.05% to $1.26.
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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.
With the V2 upgrade, SafeMoon contracts will have additional use-cases, driving the token’s adoption higher.
However, critics have noted that Ripple’s network and code are more susceptible to manipulation by sophisticated hackers and may not offer the same anonymity protections as Bitcoin-derived cryptocurrencies.
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With its bullish structure now invalidated, those looking for long positions will need to eye support levels at $2.44 and $2.2. Should the crypto market remain bearish (with BTC having a probability of revisiting $60-62K), these levels are likely to come into play.
The SafeMoon price is not joining in the broader market rally today and is down about 4%. Over a longer term view, however, SafeMoon is doing just fine. Since October, the SafeMoon price has rallied over 160%. The recent declines could be investors taking some profits off the table in a broader market that is trading at all-time highs.