And new cryptocurrency applications take root with impressive frequency — Cryptomaniaks has a great look at the fast-growing world of cryptocurrency sports betting sites as just one example.
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Beyond the clampdown by some governments, what bitcoin really needed to achieve sustained success was overall mainstream acceptance. While some financial institutions announced projects exploring blockchain-based solutions, many others balked.
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These platforms allow holders to exchange their cryptocurrency holdings for major fiat currencies like the U.S. dollar and euro, and for other cryptocurrencies, including less-popular currencies.
Even if this were the case, and Safemoon coin was to increase in price dramatically before an instant fall, it would still represent a good investment for purely speculative investors. For example, if Safemoon were to simply return to the all-time high experienced on April 20th, then that would represent an incredible 921% return from today’s price!
View: A digital rupee and cryptocurrencies can (and should) co-existAnirudh Rastogi & Amol Kulkarni
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It appears the coin became widely recognised on Twitter and many of its posts have thousands of likes by cryptocurrency watchers.
The first factor is, of course, the innovative and appealing Bitrise tokenomics. This is the Bitrise token whitepaper. As a hyper-deflationary token, Bitrise has several ways it ensures investors are making good returns in their token investments.
The SafeMoon crypto wallet has been drumming up excitement among users because the team has been adding support for more coins. SafeMoon’s Karony revealed that the wallet would see additional listings this week and asked his followers which coins they would like to see.
Brian Brooks, incoming CEO of crypto exchange Binance.US, tells CNN's Julia Chatterley that "at a certain point, finance will have migrated out of the analog age and into the digital age." He weighs in on Dogecoin, Coinbase, and regulation.
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With all of these shortcomings facing most of the competition, Safemoon is definitely in trouble. The Safemoon team has to do a lot to make the play competitive. Otherwise, not many people will be interested in this Safemoon. This means low demand, and this is how the value of Safemoon’s coin will plummet.