Crypto Insider together withWazir Logo - HorizontalCreated with Sketch.Cryptosphere ForumCrypto Quizzes
New Delhi: Major cryptocurrencies continued to gain following a rally in the weekend. However, investors booked profits in a couple of altcoins.
.
Yet tales of meme-coin holders becoming millionaires have attracted new waves of retail investors to crypto -- along with a growing number of nefarious players. In May, the Federal Trade Commission tallied a record number of crypto investment scams, with Americans’ losses totaling around $80 million since October.
CASHING IN 5 'secret stimulus check' programs that offer cash - here's how to apply
"Some of the NFT collections had bounced by 50-60% in the past few days, which indicates a possible reversal in the coming weeks," he added.
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.
Bitcoin price hits new record high - why is Bitcoin up today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu (Image credit: Getty Images/Canva Pro)
In a recent report from Kraken exchange, analysts said that the current quarter’s price action has a correlation of 0.88 with the fourth quarter of 2017.
Business SpotlightHong Kong's 29-year-old crypto billionaire: FTX's Sam Bankman-Fried
Identical copies of the blockchain are stored in every node of the cryptocurrency’s software network — the network of decentralized server farms, run by computer-savvy individuals or groups of individuals known as miners, that continually record and authenticate cryptocurrency transactions.
Safemoon crypto is not a coin, but a token. It has seen major price rises movements over just a few months in 2021. The price surged by tens of thousands of percent in April and May, then lost most of those gains by August. Such volatility is far from unusual in the crypto space.
To investors hunting for the next Dogecoin, the more than 19,000 per cent price gain that cryptocurrency SafeMoon posted in its early weeks was like catnip. Though the price of the four-month-old token has dropped since then, more than 2.4 million investors have bought it, according to its developers.
About usCreate Your Own AdTerms of Use and Grievance Redressal Policy Privacy policyAdvertise with usRSSNewsletterFeedbackePaperSitemapArchives
Cryptocurrencies’ supply and value are controlled by the activities of their users and highly complex protocols built into their governing codes, not the conscious decisions of central banks or other regulatory authorities.
Mr Karkhalev added: "The growth in the capitalisation of the Bitcoin crypto market has also aided confidence.
The global cryptocurrency market cap has grown by 2.63 percent over the previous day to $2.94 trillion, data from coinmarketcap.com shows.
Binance CEO Changpeng Zhao insisted that the long-term pay-off will be worth any compromise.