Jack Purdy, a senior research analyst at crypto analysis firm Messari Inc., said that while he didn’t know how risky SafeMoon might be, its website makes it clear that it’s designed to get investors to buy and hold to “earn passive rewards through static reflection as they watch their balance of SafeMoon grow indefinitely.”
Though both assets posted a quick recovery, the event has made a significant impact on the market. Bitcoin retraced by 7.4% a few hours after making a new all-time high at $67,000.
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The team, dubbed Twitter Crypto, will serve as a "center of excellence" for all things blockchain at the social media giant and will be "setting the strategy for the future of crypto at and on Twitter."
As this platform does business as a separate entity from Binance, the users’ digital assets will be stored in Binance.US wallets only.
SafeMoon burst on to the cryptocurrency market place earlier this year – and now the digital coin is seeing further gains.
Regarding regulatory attention, in late June, the UK’s regulator, the FCA, issued a statement that “Binance Markets Limited is not permitted to undertake any regulated activity in the UK.”
“Good thing Americans are forced on to these dogshit exchanges where they can get completely scammed on unreasonably thin books. This type of shit just shouldn’t be happening. It’s not fair that some get stopped out and some stay in, some get fills and some don’t.”BTC/USD 1-hour candle chart (Binance). Source: TradingView
Much like Dogecoin, it is cryptocurrency that was started off the back of an internet meme.
Shiba Inu Coin Price Prediction: Is the ‘Dogecoin Killer’ about to get even better?
At time of press, this was SafeMoon’s latest update; there was no confirmation that the issues were persisting or had been taken care of.
This happens when the promoter of a digital token draws in buyers, stops trading activity and makes off with the money raised from sales.
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)
We reached out to Binance.US for more information about its security measures and received no response. We’ll update the review if Binance.US gets back to us.
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SafeMoon is one such coin, which has been growing in popularity. And is gaining limelight across public platforms, garnering the interests of enthusiasts. It is a known fact that the protocol is community focussed and a fair launched De-Fi token. Substantial sources suggest that three simple functions occur during each trade.
Following these, cryptocurrencies’ market capitalisation have surged over USD 3 trillion, Reuters reported CoinGecko. On the CoinMarketCap platform, cryptocurrency market capitalisation was slightly below USD 3 trillion, the Reuters report.
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