There is a lot of volatility in the cryptocurrency space due to the industry’s newness. Investors are seeking to experiment with their money to generate riches quickly and figure out how cryptocurrency prices vary and whether they can affect them.
ImpactImpactCan this startup for home kitchen cooking create a new kind of takeout?ImpactThe 15-minute city can make urban living more sustainable—and inspire the suburbsImpact5 key things you need to know about carbon offsets
.
Inspired by the hugely popular Netflix series Squid Game, the tokens had rocketed in value.
Both moving averages are sloping up and the relative strength index (RSI) is near the overbought territory, indicating that bulls are in control.
This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Binance US names Ant exec Shroder president 10 September 2021 The US arm of Binance has appointed former Ant Group and Uber executive Brian Shroder president, replacing Brian Brooks who quit suddenly in August after just four months in the job.
NewsTransportCrimeWeatherScottish NewsPoliticsBusinessEducationHealthOpinionPeopleObituariesEnvironmentUK NewsWorldRead This
First launched in March of 2021, Safemoon began to surge in price about a month later, thanks to effective marketing by the founding team.
BitTorrent lost its relevance ever since the decentralised media network, Tron, made sharing files easier and faster, and the TRON Foundation purchased BitTorrent. Later, BitTorrent purchased DLive, a blockchain content-sharing platform where creators can monetise content without having to share with the network.
The current Safemoon crypto price is $0.000002663, up more than 17% in the last 24 hour period.
Bitcoin.org is a community funded project, donations are appreciated and used to improve the website.
And while the cryptocurrency has since dipped slightly on Tuesday afternoon, it is still up by a whopping 350% on Bitcoin’s price at 7 November 2020 after nearing the new $70,000 threshold.
Such volatility in crypto markets is nothing new. With no formal structure and countless competing exchanges, trading in the digital currency is still akin to settling out in the old American West. Earlier this month, decentralized finance platform Synthetify was forced to halt all trading due to a bug in the platform that provides pricing data. The same software responsible for Synthetify’s troubles was also blamed for a September Bitcoin crash.
Meanwhile, there has been plenty of speculation that bitcoin’s big rise may have been due to a pump-and-dump scheme. One theory that the U.S. Justice Department is reportedly looking into is that the digital coin Tether (which is supposedly pegged to the U.S. dollar to make for a less volatile cryptocurrency) was used to manipulate the bitcoin market and cause a large run-up in price. This theory stems from an academic paper, which cast Tether in a very damning light. And it also led many to believe that the initial bitcoin craze was manufactured and destined to bust.
This lack of regulation means its transaction costs are less - making it an attractive tool or investment for people to move digital money around the world.
Tokens, on the other hand, are not representative of any physical thing. They can be used to purchase from the dApps and can be used to get discounted fees and voting fees making them increasingly popular. This is similar to the decoupling of fiat currencies from the gold standard.
But first, a word of warning: buying cryptocurrencies and decentralised finance tokens as well as stocks and shares is a risky business.
There are several reasons why investors find this cryptocurrency appealing, and the chief of that is its affordable price. However, this coin has also shown that its value can rise well enough over the years, and it still has plenty of room for growth.