Its founders have been holding ‘Ask Me Anything’ sessions to reassure potential investors of its legitimacy due to the unregulated nature of cryptocurrencies.
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SafeMoon may have some investors concerned that it will not return to its prior glory. Despite a very promising starting performance, SafeMoon has settled far below the hopes of the investors that held onto the token.
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According to the Wall Street Journal, Zhao stated that he would be willing to step down as the CEO of Binance in order to resolve the company’s regulatory problems.
The most fundamental thing you need to understand about Safemoon is that it is not a crypto coin. It is a token that operates on the Binance Smart Chain (BSC). In crypto jargon, a coin is a cryptocurrency that operates on its own blockchain. It is not the same as a token.
But some say the BITO ETF is not enough, because while the fund is linked to Bitcoin, it does not actually hold the crypto directly. The fund instead holds Bitcoin futures contracts. While Bitcoin futures follow the general trends of the actual crypto, experts say it may not track the price of Bitcoin directly. For now, investors must continue waiting for an ETF that holds Bitcoin directly.
Update yourself with important crypto metrics, such as Total Market Cap, BTC Dominance, ETH Dominance, number of cryptocurrencies and more. Check the overall crypto market performance and know where the industry stands today.
However, cryptocurrency experts had warned of several tell-tale signs that it was likely to be a scam.
However, as the price is pretty much at the same level as it was in April, if you were to invest in Safemoon token for purely speculative reasons, then this level would be a decent area to buy at. There seems to be a minor support level around the area that price is currently at, which provides an optimal place to buy. Again, due to the low liquidity and lack of trading volume, this support level may not hold – so it’s worth considering this risk before investing.
And, while it has big ambitions, its current market value is someway below the $1 dollar threshold - but has experienced a steady increase in price since its launch.
Stratford Strategies, LLC Formerly Known As Cb Anderson Partners, LLC: City Of College Park, Ga
Fig 4. Wavelet coherence scalograms between online factors and price (with GSADF test bubble overlay) for Ethereum and Monero.
Gordon, M. J. (1959), “Dividends, earnings, and stock prices”, The Review of Economics and Statistics, 99–105.
Collectively, newer emerging coins are making their presence felt in the crypto industry. Enthusiasts are expecting SafeMoon to rebound from its current levels, and follow a similar rally like that of SHIB. Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose. Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena. Avalanche, Polygon, and Axie Infinity To Dethrone These Three Altcoins From Top 10! With Parachain Auctions on the Horizon, Will Polkadot Price Surge Around 30%? Quick Updates on latest trends in financial services, fintech, digital strategy and more with our industry leading Fintech Channel.