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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.
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Bitcoin wasn’t the only cryptocurrency to feel the effects of Tesla’s decision. (Pic: Shutterstock)
According to the essayontime.co.uk platform, ethereum came out many years after hundreds of cryptocurrencies hit the crypto market but has surpassed them by far due to its unique technology.
On the downside, the zone between $67,000 and $63,750 is likely to act as a strong support. If this zone is breached, it will indicate that traders may be aggressively booking profits. The pair may then drop to the 50-day simple moving average (SMA) ($56,348).
The phenomenon has occurred more frequently in recent days, with Bitstamp also seeing freak order-book events.
And that, we regret to inform you, has led to some rather silly thinking (highly unusual in the crypto community, we know), specifically of the chart-crime variety:
Wavelet coherence plots as above highlight areas in the time-frequency space where the two series co-move. The warmer the colour, the higher the coherence (which can be interpreted as correlation) at that location in the time-frequency space; the colours used in this work range from dark blue (0, no coherence) to yellow (1, strong coherence). Statistically significant areas of coherence are surrounded by a thick black line.
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In June, the Chinese Government cracked down on considerable crypto mining operations taking place in the Sichuan province and demanded that Chinese banks and payment channels stop supporting decentralised and anonymous crypto transactions.
Also, several businesses now receive bitcoin as payment for goods and services – another reason why it is a wise investment. For instance, Visa transacts with BTC, and in February, Tesla announced that the company has invested $1.5 billion in BTC and will also be accepting it as means of payment for its cars. Additionally, the large banks are already incorporating BTC transactions in their offers too.
Data Availability: All data are available from figshare: https://figshare.com/articles/Wavelet_coherence_cryptocurrency_online_indicator_data_set/5765352.
Musk’s influence cannot be underestimated as, even though the likes of PayPal, Mastercard and Facebook have backed cryptos, the Tesla announcement still rocked the market.
Terra’s LUNA token has been trading inside a rising wedge pattern. The bulls attempted to push the price to the resistance line of the wedge on Nov. 8 but could not sustain the higher levels.
While its price swiftly dropped to below $65,000 after hitting the new all-time high Wednesday, Bitcoin’s latest new record is an impressive feat considering just a year ago the currency hovered around $15,000 per coin. Ethereum — the next most popular crypto — has seen a recent surge as well, and on Wednesday notched another new all-time high of its own above $4,800.
Squid's developers have made off with an estimated $3.38m (£2.48m), according to technology website Gizmodo.
Business News›Markets›Cryptocurrency›Top cryptocurrency prices today: Solana, Binance Coin fall; XRP jumps 9%