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SafeMoon is a newly added cryptocurrency that has seen a rise in its rates since its launch in March 2021.
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Crypto data aggregation platform, CoinMarketCap, recorded an increase in Bitcoin’s trading volume of almost 21% over the last 24 hours as of 2.25pm, with the cryptocurrency’s trading volume reaching $41,758,072,990.
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The Bitrise platform has created incredible products that are exclusively available for their users. This high growth rate makes the token grow bullish, attracting communities worldwide, including Shiba Inu coins like Dogecoin and Safemoon community members.
Currently, the global crypto market cap stands at $2.87 trillion, an increase of 4.70%. Other cryptocurrencies were also trading in the green.
Bitcoin mining is raising concerns about its negative impact on the environment. According to the Cambridge Bitcoin Electricity Consumption Index, the industry consumes more electricity than the Netherlands and slightly less electricity than the United Arab Emirates.
When Covid numbers goes up, Bitcoin goes up. Based on this analysis I am issuing a BUY order on Bitcoin with a price target of $1 million by September. Attached is my analysis with the Bitcoin chart just above the Covid chart. All thoughts welcome. pic.twitter.com/AeMAEAixn9
The team announced a few days back that Safemoon whales had joined the coin. Since then, there has been an influx of new crypto members joining Bitrise coin. All these factors have significantly driven the market cap up by +$200 at the time of writing. But what are the underlying factors driving the huge number of investors joining Bitrise crypto coins every day?
Cryptocurrencies, or virtual currencies, are digital means of exchange created and used by private individuals or groups.
Ethereum has increased by 1.8 percent to $4,806. Like Bitcoin, over the last week, Ethereum too has surged more than 10 percent.
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“It was almost like you just gave a 21-year-old a million dollars,” Harrison said. “I get it -- they were excited to be so popular.”
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