Yet some crypto watchers have raised red flags over SafeMoon’s unusual structure. It charges a 10% fee to buy tokens and another 10% to sell -- almost unheard of in the digital currency world. Half of these fees are paid to owners as an incentive to keep holding and the other half goes into a liquidity pool controlled by the developers. SafeMoon calls itself a DeFi token, or one that uses decentralized finance to govern functions through software, but it has a chief executive officer and chief operating officer. Critics also worry about the discretionary nature of the “manual” coin burns used to adjust its circulation.
Ethereum gained 3.85% to $4,720 and Dogecoin was trading 9.73% higher at $0.2858. Digital token Stellar climbed 3.72% to $0.3733 and XRP zoomed 8.05% to $1.26.
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Coinbase falls 11% after the crypto exchange misses Wall Street's 3rd-quarter earnings expectations
Fast fact, altcoins games and metaverse tokens are showing user-driven, huge popularity, and their continued presence in the crypto industry these days. In fact, their presence has been well-felt since the beginning of this year.
The monetary authority again reiterated its strong views against cryptocurrencies saying they pose serious threats to the ... Has cryptocurrency become too 'mainstream' in India to be banned?
Hut 8 Achieves Third Consecutive Record-Breaking Quarterly Revenue in Q3-2021; Surpasses 5,000 Bitcoin Held in Reserve
A look at funding rates across exchanges hints at excessive optimism, with traders going long on BTC en masse — a classic indicator of a correction.
While no official announcement by either of the companies in question has been made in regards to a partnership, social media is full of users waiting for the statement.
— “It has also notched some tangible, if fleeting, policy victories for Mr. Orban, including the withdrawal during the Trump administration of a State Department grant to nurture independent news media in Hungary and the securing of a long-coveted Oval Office meeting for Mr. Orban in 2019 with President Donald J. Trump.”
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Polkadot has increased more than 9 percent in the last week. It is trading at $52.87.
Coinye, a semi-defunct cryptocurrency, is worth mentioning solely for its bizarre backstory.
Nostalgia seeps in the trends, whenever the price of SafeMoon cryptocurrency makes a continuous price increase, data of SafeMoon forecast shows the rise was followed by a correction between 20 percent and 30 percent, adding to investor rally of buy and sell. SafeMoon, the world’s best-known and most valuable cryptocurrency based on SafeMoon Protocol price rise, has more than doubled in price this year, a wild run that’s reminiscent of its monster rally in the last month that saw it narrow in on the 0.000004 US Dollar mark.
A break and close above the channel will indicate strength and the pair may rally to $300 and then to $321. Conversely, if bears sink the price below the channel and the $216 support, the decline could extend to the 50-day SMA ($179).
The nation’s president Nayib Bukele passed a bill in June that stated that from September 7, Bitcoin can be used in any transaction and all businesses must accept the e-currency as payment.
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Laith Khalaf, financial analyst at investment platform AJ Bell, previously told The Sun that although long-term investment is encouraged, SafeMoon "doesn't sound too different from a pyramid selling scheme".