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Mr Karkhalev added: "The growth in the capitalisation of the Bitcoin crypto market has also aided confidence.
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XLM price has been on a massive consolidation phase since October 16 as it failed to shatter an overhead barrier. Stellar is currently making a run at this hurdle and indicates that a breakout will result in an explosive breakout.
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In addition, V2 features include “increased quality, security and accessibility of SafeMoon” in anticipation of what the project describes as a “warp-speed future.”
“I’ve been through the 2017 cycle, too,” Yang says, referencing the ‘crypto crash’ of 2017 that saw many major cryptocurrencies, including Bitcoin, lose major value. “I know that these things are super volatile, like some days they can go down 80%.”
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And while Karony said he wasn’t sure what to make of Portnoy’s tweet, he was appreciative. “It’s cool to see big names talking about SafeMoon because it means more people are hearing about SafeMoon,” he said.
More rich young investors are opting to go without a traditional financial adviser. Instead, they are betting they can get good-enough investment options from do-it-yourself digital platforms that are cheap and easy to use. Many also want to invest in riskier assets, like cryptocurrencies and tech startups.
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“It’s easy to get carried away, but such aggressive growth is highly unlikely to continue forever.”
Other criticism of the founding team has come on the back of several promised developments of a Safemoon ‘ecosystem’ (including a bespoke wallet application) that have thus far fallen short of expectations.
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Any claims that a particular cryptocurrency confers total anonymity or immunity from legal accountability are worthy of deep skepticism, as are claims that individual cryptocurrencies represent foolproof investment opportunities or inflation hedges.
Ethereum Dropped After Setting Another New All-Time High. Here’s What Investors Should Do Next
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Responding to regulatory pressure, Binance has curbed some services on cryptocurrency bets, highly leveraged positions and trading with tokens linked to shares, and has pledged to beef up its compliance staffing.