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The cryptocurrency’s price began to surge on Sunday night (7 November) as investors pumped the price from $62,319.98 at 8pm to $66,101.46 by 10am on Monday morning.
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SafeMoon is one of the most popular new cryptocurrencies of 2021, but can you buy the currency on the Coinbase or Binance exchanges?
Binance owns Binance.US’s name and intellectual property. However, Binance.US is managed independently. The main differences between the two relate to financial regulations in the United States. Binance.US cannot legally offer all the same crypto assets that the main Binance exchange can.
Binance.US launched in September 2019 in order to serve customers from the U.S.A. Although the exchange got off to a fairly slow start, Binance.US has grown into one of the largest cryptocurrency exchanges in the United States. In fact, April was a milestone month as Binance.US announced that its total trading volume surpassed $28 billion.
Even after falling back from its latest all-time high price, Bitcoin’s current price still represents a big upswing from the low $40,000 range seen in September.
By late 2010, the first of what would eventually be dozens of similar cryptocurrencies — including popular alternatives like Litecoin — began appearing. The first public Bitcoin exchanges appeared around this time as well.
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That 90-day period ends September 12, so that’s effectively the deadline for Binance to launch its new U.S. exchange if it is to avoid impacting its American user base.
Holders earn passive rewards through static reflection as they watch their balance of SafeMoon grow indefinitely.
“This is because if the bill passes, exchanges will have to issue 1099-B tax forms with cost basis information to investors,” Shehan Chandrasekera, CPA, head of tax strategy at CoinTracker.io, a crypto tax software company, recently told NextAdvisor. “This will significantly reduce the crypto tax filing burden.”
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Even though the current downside move is sure to shock some investors, slight corrections after reaching new all-time highs are a customary practice for Bitcoin.
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Some mainstream companies also view blockchain technology itself with interest, evaluating various uses such as supply chain. The future of cryptocurrency and its associated technology appears bright, judging by the growth and adoption that has been seen since 2008 when Nakamoto published the framework for a little asset called Bitcoin.