Business News›Markets›Cryptocurrency›Top cryptocurrency prices today: Cardano, Polkadot, Dogecoin shed up to 5%
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Cryptocurrency trading is the act of speculating on cryptocurrency price movements via a CFD trading account, or buying and selling the underlying coins via an exchange.
These are just some of the reasons Bitrise crypto coin has hit the $200m market cap so fast. The token has exciting features that are appealing to thousands of crypto investors. With the upcoming staking process and launch of the revenue sharing program, the coin's market cap is projected to jump even higher.
JPMorgan CEO Jamie Dimon, for instance, made multiple comments throughout the year expressing his general antipathy for cryptocurrency. Dimon’s thoughts could most easily be summed with this quote: “I don’t really give a shit about bitcoin.” Warren Buffett also didn’t have kind words–calling it “probably rat poison squared”–which almost certainly sent a clear message to curious investors.
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Brooks did not respond to requests for further comment. A spokesperson for Binance declined to comment.
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.
The coin's tokenomics show that the team is building a platform that rewards investors handsomely. First, the token is a hyper-deflationary payment network token, which rewards investors for holding tokens in BNB. For every transaction, 12% is charged, only 3% of the collected tax goes to marketing. The 4% is awarded to the token holders in BNB. It is this active income from the rewards, which is paid every 60 minutes, that is attracting most Safemoon members and thousands of other investors.
“YOU’VE CRASHED #SAFEMOON THERES NO OTHER WAY TO SAY IT. WE WILL UPDATE YOU AS SOON AS POSSIBLE […] WE CAN’T WAIT TO HAVE YOU ALL HOME SOON…”
Among those who called it, hedge fund manager Mark Dow wrote almost exactly a year ago about his decision to short bitcoin after future trading on it first began:
In the past 24 hours, the cryptocurrency has surged 93%. It's currently trading at less than $0.000000000001, according to CoinMarketCap.
“The exchange business is currently profitable, but not necessarily innovation,” Brooks said, adding that Bitfury’s position as the only mining chip producer outside of China has taken the lead. ..
“The manual burns, alongside the company having a pretty large stake in the coins, just speaks to me of a manipulation risk,” said Jasper Lawler, head of research at London Capital Group, an online brokerage firm offering cryptocurrency derivatives. “Whenever there’s some sort of mechanism to stop selling, that’s a bit of a warning sign.”