Crypto market capital shoots to $2.34 trillion with Ethereum occupying 20% of crypto economy
Mr Rocket also cited some concerns over whether there is a "strong liquidity pool" or not.
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With the V2 upgrade, SafeMoon contracts will have additional use-cases, driving the token’s adoption higher.
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Overall, we’d urge you to do your own research if you were to invest in Safemoon. Common investment advice states that the cryptocurrencies which perform the best over the longer term are those with real-world utility, which Safemoon doesn’t seem to have at present. Although the developers may improve the protocol and create some valuable use cases, there is still the chance that this coin could be a ‘memecoin’.
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Bitcoin’s Market Capitalization Went Over $1 Trillion This Year. Here’s What Crypto Market Cap Means for Investors
DAVID GURA, BYLINE: Republican Cynthia Lummis is a senator from Wyoming, a rancher and a HODLer.
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Bhambhwani, S., S. Delikouras, and G. M. Korniotis (2019). “Do fundamentals drive cryptocurrency prices?”, Working paper .
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Before this latest surge for the top two cryptos, recent sudden drops followed a ban on cryptocurrency transactions and mining from China’s central bank, which declared all cryptocurrencies illegal in the country. After previously topping $52,000 in early September, Bitcoin’s price had dropped and struggled to get back over $50,000 until this month.
Despite the flurry of activity and popularity around emerging alt and meme coins like Shiba Inu coin, market analysts have said that fears over rising inflation are seeing traders shore up support in Bitcoin and major cryptocurrencies.
Although “smart contracts” represent an important move toward addressing the lack of chargebacks and refunds in cryptocurrencies, it remains to be seen whether they’re enough to solve the problem completely. Still, they’re at least partly responsible for Ethereum’s success.
Additionally, cryptocurrencies are frequently used to facilitate gray and black market transactions, so many countries view them with distrust or outright animosity.