Recently, such platforms have come under increased scrutiny by lawmakers and regulators. Binance in particular is reportedly under review by regulators in the U.S., Britain, Germany, Japan, Hong Kong and elsewhere.
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Binance launched the U.S. arm in 2019. But the company’s main exchange, initially based in China, blocked Americans in an effort to stay on the right side of regulators.
SafeMoon is still a relatively new cryptocurrency compared to others, having only launched in March 2021.
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Douglas Horn, the chief architect of Telos, told Business Insider that they kept away from marquee investors because they didn’t want to create any big whales that could influence the price of the TLOS token.
Although Binance.US is growing fast and is now considered to be one of the top exchanges in the United States, it doesn’t measure up to its parent company, Binance.
More broadly, the U.S. has been slow to issue regulatory guidance for cryptocurrency businesses. The industry has generally appreciated regulators' care and caution to avoid hampering innovation or overregulating something so misunderstood, but the lack of clarity has also become restrictive for many looking to operate, develop, and grow their products and services. But Zhao appears to be undaunted by that.
That being said, the features that HUH Token offer are beneficial to investors. The Token offers a lot of utility, as a result of this, the creators have dubbed the token a ‘Utimeme’ token. This is the end product of mixing the words utility and meme together, HUH Token wants to be seen as more than just a meme token as it provides real-world value to those invested.
In fairness, this is not due to any failing from Binance.US specifically, but rather, is due to the regulatory hurdles it must contend with. That being said, Binance.US currently has 53 cryptocurrencies (including stablecoins) available for trading.
These token burns are designed to increase the scarcity of the token and push the value higher. Safemoon initially launched with a circulating supply of one quadrillion tokens (!!!), although the development team burned 223 trillion of these right away. Over 400 trillion tokens have been burned so far, with this figure continuing to grow as the months go by.
Ethereum has increased by 1.8 percent to $4,806. Like Bitcoin, over the last week, Ethereum too has surged more than 10 percent.
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Data Availability: All data are available from figshare: https://figshare.com/articles/Wavelet_coherence_cryptocurrency_online_indicator_data_set/5765352.
Fig 6. Wavelet coherence between Ethereum new authors and price decomposed for different period bands (with GSADF test bubble overlay).
The global cryptocurrency market cap has grown by 2.63 percent over the previous day to $2.94 trillion, data from coinmarketcap.com shows.