The debacle was tinged with irony, coming just as Binance CEO Changpeng Zhao, also known as CZ, warned about incoming volatility.
Some experts say this is high risk as SafeMoon’s success relies heavily on more and more people buying the currency to keep the price up.
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The cryptocurrency market is a vast and sometimes confusing place with different coins to choose from.
Immediately after the platform went live, Binance.US also launched its Referral Program with a range of rewards being available to the customers and their referees under certain requirements.
Miners serve as record-keepers for cryptocurrency communities, and indirect arbiters of the currencies’ value.
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In the meantime, cryptocurrency users (and nonusers intrigued by cryptocurrency’s promise) need to remain ever-mindful of the concept’s practical limitations.
Consumers could easily assume the advertising of unregulated cryptos has cleared tough hurdles More Cryptocurrencies
This gives sellers an incentive to charge transaction fees, since they get paid faster by doing so, and so it’s fairly common for cryptocurrency transactions to come with fees.
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The cryptocurrency industry has come a long way in recent years. More than ever before, crypto traders have endless options on where they want to trade. They can trade on centralized exchanges, decentralized exchanges, and even brokerages such as Robinhood.
Cryptocurrency is a type of currency that’s digital and decentralized. Cryptocurrencies can be used to buy and sell things, and their potential to store and grow value has also caught the eye of many investors.
But even this kind of pullback could not kill the inherent uptrend and in one of our previous reports, we mentioned that a breakout above $62,500 was required for BTC to resume strength.
Laith Khalaf, financial analyst at investment platform AJ Bell, previously told The Sun that although long-term investment is encouraged, SafeMoon "doesn't sound too different from a pyramid selling scheme".
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Contrary to this assumption, if the pair rebounds off the current level and rises above the downtrend line, it could reach $0.000065. The flattish 20-day EMA and the RSI near the midpoint suggest a range-bound action in the near term.
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