Safemoon has a few unique features that have attracted both praise and criticism. For example, the Safemoon smart contract charges a 10% exit fee for holders who choose to sell. Half of this fee is ‘burned’, while the other is redistributed to remaining token holders, theoretically increasing the value of their holdings over time.
The goal is to keep the average interval between new blockchain creations steady at a predetermined level. Bitcoin’s is 10 minutes, for instance.
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If you had purchased $1000 in SafeMoon near its launch date for $0.000001571 and then sold it for the highest market price since its release. You wosuld have sold those tokens for approximately $8750. This is a sizeable return on investment, but a simple google search will show you that these numbers do not reflect some of the incredible results altcoins have produced.
Polkadot has increased more than 9 percent in the last week. It is trading at $52.87.
Dogecoin, meanwhile, was trading up by less than one percent on the last 24 hours at $0.28 (£0.21) on Tuesday afternoon.
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There are over 2000 cryptocurrencies available to buy and sell, though most have little value. Of these, bitcoin, ether (the token of the Ethereum network), ripple, bitcoin cash (an offshoot of bitcoin) and litecoin are among the most valuable by market capitalisation.
SafeMoon’s Facebook page states: “Remember, getting to the moon takes time and the longer you hold the more tokens you pick up.”
Plus, a short seller’s $1m ‘bounty’ on Tether, more outflows from unloved UK stocks and Tom Stoppard’s Leopoldstadt
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Altcoin. Refers to any cryptocurrency other than Bitcoin, and there are thousands.
Cheah, E. T. and J. Fry (2015), “Speculative bubbles in Bitcoin markets? An empirical investigation into the fundamental value of Bitcoin”, Economics Letters 130, 32–36.
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In late July, Elon Musk said Tesla was "most likely" to start accepting bitcoin as payment again. The comment helped the cryptocurrency race past the $30,000 level.
EverGrow Coin also has an anti-Whale system in place. An additional 1% charge is applied to all the sales, which lowers the volume of swing trading and Whale manipulation. Additionally, the intelligent contract prevents simultaneous sales of more than 0.2 percent of the circulating supply.
This is just one example, but it definitely highlights the difference between trading on Binance and Binance.US. Although small traders won't make much of an impact on either exchange, all else being equal, most traders would prefer to trade against the larger book, rather than the smaller one.