Some experts say this is high risk as SafeMoon’s success relies heavily on more and more people buying the currency to keep the price up.
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Our data aggregators include CoinMarketCap, Coinpaprika, TradingView, CryptoCompare and IntoTheBlock.
You may be wondering what to make of cryptocurrency and whether it has a place in your portfolio. But if you’re not familiar with digital currencies or blockchain technology, even the basic concept can be overwhelming.
While the biggest cryptocurrency trades strong, its market dominance has been dipping as investors shift to altcoins, said CoinDCX Research Team.
Wallets used by cryptocurrency exchanges are somewhat vulnerable to hacking. For instance, Japan-based Bitcoin exchange Mt. Gox shut down and declared bankruptcy a few years back after hackers systematically relieved it of more than $450 million in Bitcoin exchanged over its servers.
Safemoon has a few unique features that have attracted both praise and criticism. For example, the Safemoon smart contract charges a 10% exit fee for holders who choose to sell. Half of this fee is ‘burned’, while the other is redistributed to remaining token holders, theoretically increasing the value of their holdings over time.
Shiba Inu coin price soars again in continued price pump - what Shiba Inu coin i...
That’s the same crowd that has pumped up the prices this year for other crypto like Shiba Inu and Dogecoin.
PoS, on the other hand, runs on staking. In the staking system, rewards are distributed to help run the network by holding assets in certain designated wallets. A number of PoS assets also allow for masternodes — a more complicated staking process that usually requires a certain minimum number of coins.
The global crypto market cap fell more than 2 per cent to $2.82 trillion mark compared to the last day. However, the total crypto market volume jumped over 31 per cent to $176.91 billion.
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Polkadot (DOT) turned down from $53.87 on Nov. 8, indicating that bears are selling at higher levels. The price has dipped back to $49.78, which is likely to act as a strong support.
According to coinmarketcap.com, the price stands at $0.00000489 despite rising massively to $0.000014 during its all-time high but the price seems to be falling dramatically.
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Overall, it appears from these results that cryptocurrencies may experience short term intervals of co-movement, caused by sector wide news or cross market contagion, though correlation is likely to change dependent on the nature of the causal event and market environment. In the medium and longer term Bitcoin and Litecoin are strongly related; it is believed this is due to their similarity.
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