The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin. (Pic: Shutterstock)
China’s crackdown has delivered a windfall to international groups that mint digital tokens
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The debacle was tinged with irony, coming just as Binance CEO Changpeng Zhao, also known as CZ, warned about incoming volatility.
While Bitcoin tumbled, Ethereum was heavily rejected on Oct. 21 as it approached its mid-May all-time high at $4,380.
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That’s the same crowd that has pumped up the prices this year for other crypto like Shiba Inu and Dogecoin.
Safemoon protocol aims to create a self-regenerating automatic liquidity providing protocol that would pay out static rewards to holders and penalize sellers.
Steep rises and unexpected dives in the price of cryptocurrencies are relatively common. As the market stabilises, the volatility has slowly decreased, but irrationality will always be part of the trading game.
Today, it’s impractical for hobbyists without thousands of dollars to invest in professional-grade mining equipment. If your aim is simply to supplement your regular income, plenty of freelance gigs offer better returns.
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The world’s largest crypto exchange is going legit. Binance, which processes more than $1 billion on a daily basis and for so long has embodied crypto’s Wild West culture, announced that it will launch a U.S.-based service — but, in the meantime, it is implementing restrictions for U.S. passport holders worldwide and those based in the country.
The week has been much more successful for some of SAFEMOON’s fellow DeFi tokens. Kava.io (KAVA) hit an all-time high on August 22, and data indicated that it has made a couple of further attempts to reach those heights since. In addition, Terra (LUNA) also achieved its latest all-time high, hitting $36.61 in the morning of August 29. This milestone is the result of an impressive total growth of nearly 30%. It also brings the token closer to a spot in the top 10 most valuable cryptocurrencies by market capitalization. LUNA is currently ranked 11th.
A digital wallet is a gadget or piece of software that securely stores users’ payment information and passwords for numerous payment methods.
Users can buy SafeMoon by setting up a crypto wallet on the Binance Chain Network and add Binance (BNB) coins to your account.
But whether that growth is sustainable, and what it means long-term, is still in question. “This crypto, blockchain technology, the public interest in it right now is being driven by a kind of speculative fever,” says Dr. Richard Smith, executive director of the Foundation for the Study of Cycles, a nonprofit organization dedicated to studying recurring patterns throughout economies and cultures.
SafeMoon is a newly added cryptocurrency that has seen a rise in its rates since its launch in March 2021.
The price of Loopring has risen over 400 per cent since the initial rumors began to spread.