While it shares characteristics of both currency and investments, there’s still debate among experts about whether cryptocurrency is clearly one or the other.
But first, a word of warning: buying cryptocurrencies and decentralised finance tokens as well as stocks and shares is a risky business.
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A cryptocurrency analyst at the YouTube channel “Broke Man Finance” has analyzed the SafeMoon price trend and predicted that the token would likely hit a new all-time high soon.
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There was also a big debate on Safemoon tokenomics. Most of the competing coins have a more attractive and innovative tokenomic than Safemoon. While the Bitrise coin has an automated redemption and burn process, Safemoon burns manually. This means that the liquidity regulation of the Safemoon token is less transparent.
Ripple also put heavy investments into non-fungible token projects using the XRP ledger – a public blockchain. Many experts claim that this investment puts Ripple in the position to be an “Ethereum killer.”
When it comes to fees, both platforms have the same standard fee of 0.1%. The difference is that additional fees vary, depending on whether you are within the U.S. or not. For example, fees for bank transfers to your Binance account are free outside the U.S. However, depending on your method of transfer, U.S. users may pay up to 4.5%.
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SafeMoon was created by Karony and two of his fellow developers from TANO, a Provo, Utah-based video game studio with a bare-bones website. It launched in March with a big social media push, including a giveaway of 100 billion tokens (then trading for less than $0.00000001 each) for “lucky winners” who followed @safemoon, liked and retweeted then tagged three friends.
“I like the word ‘moon,’ because that’s where I want it to go,” Portnoy said in his purchase announcement.
One of the fastest-growing pension markets in the world could be about to dive into crypto.
Influencers like disc jockey Diplo, YouTube star Jake Paul and platinum-selling rapper Lil Yachty touted SafeMoon, though none were compensated for doing this, according to Karony. SafeMoon’s Twitter account now has more than 968,000 followers.
If buyers sustain the price above $67,000, the BTC/USDT pair could pick up momentum and accelerate to the next target objective at $75,000. A break and close above this resistance may open the doors for a possible rally to $89,476.12.
Replying to a tweet about an underwater mud volcano, he wrote: "Cover story for Godzilla obv."
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MoneyNews MoneyMOON MONEY SafeMoon price prediction 2021: Can the cryptocurrency reach $1?
Investors that may have once dismissed it, ought now to consider taking part in it