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In early November, FTM formed an inverse head and shoulder pattern, eventually breaking the neckline with a steep rise close to $3.2. However, it is now recovering from the steep drop it experienced overnight along with the market. On its way down, it broke through several local support levels.
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That’s the same crowd that has pumped up the prices this year for other crypto like Shiba Inu and Dogecoin.
FTX's Sam Bankman-Fried said solana was one of the few blockchains with a roadmap to scale million of transactions.
According to a tweet from the official SafeMoon Twitter account, the problems affected all three wallet products. Namely, the website buy and swap function, the Android wallet, and its iOS counterpart.
The launch of the SafeMoon (SAFEMOON) wallet ran into unexpected technical issues, shortly following its release.
Additionally, because there is no physical product or centralized organizing body, it is hard to point to anything and say “see, that good thing happened, crypto values will increase now”. So how does cryptocurrency gain value?
Cryptocurrency is formed through a process known as mining, which entails employing computer processing power to solve complex mathematical problems to earn coins. Users can also purchase the currencies from brokers, which they can then store and spend using encrypted wallets.
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When the hard fork arrived–and participants had to choose which path to take–the entire cryptocurrency market dropped. This is very likely what caused bitcoin to drop from the $6,000 range to around the $3,000-$4,000 range. Which brings us to today, with the cryptocurrency bottoming out at less than 80% of what it was a year ago.
While still on the tokenomics, 4% of the 12% fee is automatically distributed to the token holders every 60 minutes in BNBs. Such active income is attracting many investors, and in the process, increases Bitrise coin market cap.
The launch of the SafeMoon (SAFEMOON) wallet ran into unexpected technical issues, shortly following its release.
Profit-booking near the resistance line pulled the price back toward the critical level at $49.54 on Nov. 9. The strong rebound off this level on Nov. 10 suggests that bulls are defending this level with vigor.
Liquidity measures how easy (or difficult) it is to swap one asset for another. Traders want to be able to convert one asset for another asset while having a minimal impact on the price. The more illiquid an asset is, the harder it will be to trade it without causing a major price change. Therefore, liquidity is an extremely important factor to consider before deciding where to trade.
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WARREN DAVIDSON: The industry is basically pleading, give us some regulatory clarity.