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Coinbase's NFT platform should be like Instagram and may eventually overtake cryptocurrency trading, CEO says
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Safemoon members are now joining competing crypto coins, like Bitrise, in thousands, and this could continue if Safemoon team does not address the fundamental issues. However, Safemoon remains as one of the strong crypto coins, but the dominance might be short-lived.
Danial says there have been plenty of huge spikes followed by pullbacks in Bitcoin’s price since 2011. “What I expect from Bitcoin is volatility short-term and growth long-term.”
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Alexis Ohanian has partnered with the Solana Foundation to invest $100 million to build social-media projects on the solana blockchain.
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It is the latest cryptocurrency to have seen a spike in interest since the turn of the year, following on from the success of Dogecoin, Bitcoin and Ripple XRP in recent weeks.
It will impose a 10 percent penalty tax fee on sellers and redistribute five percent of this tax to other people who already own the cryptocurrency.
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The worldwide crypto market capitalization is currently $2.90 trillion, decreasing 1.25% over the last day. (Shutterstock)
World's largest cryptocurrency Bitcoin was trading over 4% higher today. The price of Bitcoin rose 4.63% to $68,351 on Coinmarketcap. Market cap of the cryptocurrency reached $1,288.07 billion.
While fluctuations are expected, Noble says this swing is a bit out of the ordinary. “I thought the market was maturing and these things would be less frequent and severe. Boy was I wrong,” he says.
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.