The Biden Administration Wants New Legislation to Regulate Stablecoins. Here’s What That Means for Investors
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The encryption algorithm is slightly different as well. Litecoin is often the second- or third-most popular cryptocurrency by market capitalization.
A look at recent charts shows that Safemoon has been on a downtrend since early November. Safemoon has also not been doing very well since its last all-time high around April 21, 2021. Despite rising in mid-May, the next time Safemoon saw bullish growth was at the end of October.
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The digital asset at press time is trading at $0.00000424. While the market cap is around $2,402,538,956. The trading volume for the last 24-hours is at about $12,121,142. And about 428.16660 TR have been burned. The coin had peaked to $0.000006 levels on the 28th of October. And is witnessing a downfall ever since.
There was also a big debate on Safemoon tokenomics. Most of the competing coins have a more attractive and innovative tokenomic than Safemoon. While the Bitrise coin has an automated redemption and burn process, Safemoon burns manually. This means that the liquidity regulation of the Safemoon token is less transparent.
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We should also point out that if we had been given labels on the Y-axis (which obviously we are not), it might become clear that these “daily Covid cases” refer to US Covid cases. Because while a US chart looks exactly like the one above, a chart showing worldwide Covid cases doesn’t; instead it looks like this (according to Google):
When formed by real members instead of bots—we’ll get to that in a second—these communities are unofficial and unpaid public relations departments continually working in favour of the reputation of the projects they support.
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The phenomenon has occurred more frequently in recent days, with Bitstamp also seeing freak order-book events.
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.
His appointment with Binance was seen as a sign that Binance was seeking an image of greater transparency through hiring well-regarded regulators to senior roles.
Meanwhile, apart from regulatory attention, Binance is likely to get sued over a platform outage during a price crash on May 19. A Swiss crypto fund is financing litigation and a UK academic has made various allegations based on her research.