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It hasn't yet been recognised by the major cryptocurrency sites such as Coinbase but why did it get so popular?
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Although this may seem like a negative, it actually means that if the Safemoon cryptocurrency were to showcase extreme growth, then any investments right now would be in at the ground level. Right now, the attention surrounding Safemoon is mainly negative, as many cryptocurrency market commentators are claiming that the token has no actual use except to make the development team and certain investors rich.
Jegadeesh, N. and S. Titman (1993), “Returns to buying winners and selling losers: Implications for stock market efficiency”, The Journal of Finance 48 (1), 65–91.
But cryptoassets as commodities can be traded if they can exhibit clear benefits and can abide by the principles of Shariah, Bloomberg first reported.
Trading Bitcoin and other crypto-currenices is a criminal activity, China's central bank says.
The U.S. firm shares a name with Binance Holdings Ltd., the world’s biggest crypto exchange -- and Changpeng Zhao, the CEO of Binance Holdings, is chairman of the board at Binance.US. Binance Holdings faces a U.S. Justice Department investigation into whether its platform has facilitated money laundering and tax evasion. Numerous countries have also announced probes and demanded that Binance curtail or amend operations within their borders.
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So what happened? And is there any hope for a recovery? To answer both, you have to look at quite a few factors.
Although cryptocurrencies like Bitcoin are virtual currencies, they are treated as an asset for capital gains tax purposes, and “ordinary” investors who purchase Bitcoin as an investment will experience a capital gain or loss when they exchange it for traditional currency, products, or services.
Binance, the original platform, despite its many outages in recent months, stands out from its U.S. counterpart. The range of cryptocurrencies, features, and ease of use far out does Binance.US. Many hope that the number of faults and outages will reduce going forward.
Bitcoin nears $70,000, while ether eyes $5,000 as the rally extends into a fourth day, aided by a weaker dollar and upbeat investor sentiment
Explaining the digital assets designed to limit volatility but attracting regulators’ attention Previous page You are on page 1 Next page
Despite this, Safemoon has a small but fiercely loyal base of fans who continue to hold the token for the long term. This fanbase has kept the price of Safemoon above zero, despite a sudden drop from all-time highs in April and May of 2021.
SafeMoon is also preparing to launch a cryptocurrency exchange, which apparently is not tied to V2.
Unlike other cryptocurrencies, SafeMoon claims it will reward people who buy its token and hold on to it rather than trade - for which there are penalties in place.