BusinessCryptocurrencyBitcoin Crashed 87% On Binance's U.S. Exchange Due To Algo Bug Another day, another major snafu in cryptocurrency trading. The price of Bitcoin rapidly plunged about 87% on Binance's U.S. exchange Thursday morning.
Here is Bitcoin’s price today, why Bitcoin is up and the latest crypto news and prices for Ethereum, Shiba Inu coin, Dogecoin, XRP and more.
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His tweet Friday said: "Letting you all know I have resigned as CEO of @BinanceUS. Despite differences over strategic direction, I wish my former colleagues much success. Exciting new things to come!"
The price of Bitcoin was £48,199.49 after the latest drop in prices (11 November), according to Coinbase.
That can mean serious savings for investors, especially compared to some other exchanges. For example, if you want to buy $100 worth of Bitcoin on Coinbase, you’d actually end up with about $96.51 in Bitcoin, after fees. On Binance.US, you’d still have $99.99 to purchase Bitcoin after accounting for the 0.1% fee.
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The flag-wavers point to these and other concerns to warn that SafeMoon may not, in fact, be safe.
Identical copies of the blockchain are stored in every node of the cryptocurrency’s software network — the network of decentralized server farms, run by computer-savvy individuals or groups of individuals known as miners, that continually record and authenticate cryptocurrency transactions.
Investing is always a risk but investing in cryptocurrency is an even higher risk as they are VERY volatile.
Cryptocurrency mining is the process by which recent cryptocurrency transactions are checked and new blocks are added to the blockchain.
Reviews of Binance.US are, on average, worse than those of Binance, a small consolation for those who live outside the U.S. Despite this, many of the issues pointed to regarding support for American customers relate to issues that stemmed from the company’s rushed set up of the newer website.
Experts recommend keeping your cryptocurrency investments to under 5% of your portfolio. If you’ve done that, then don’t stress about the swings, because they’re going to keep happening, according to Bill Noble, Chief Technical Analyst at Token Metrics, a cryptocurrency analytics platform.
Currently, it is said that safemoon has issued 1,000,000,000,000,000 tokens, but its upper limit is 1,000,000,000,000,000,000,000,000, according to its contract, which is equal to the number of every atom in 1,000,000 galaxies. In contrast, only 5,000 4JNET NFTs are issued, and all NFT holders can enjoy a reduction of 3% service charge.
Investors need not worry about these stocks, yielding from just over 3% to nearly 9%, being yield traps.
SafeMoon is not yet listed on Coinbase or Binance. However, the currency does hope it will achieve this in the future.
And, while it has big ambitions, its current market value is someway below the $1 dollar threshold - but has experienced a steady increase in price since its launch.
Meanwhile, there has been plenty of speculation that bitcoin’s big rise may have been due to a pump-and-dump scheme. One theory that the U.S. Justice Department is reportedly looking into is that the digital coin Tether (which is supposedly pegged to the U.S. dollar to make for a less volatile cryptocurrency) was used to manipulate the bitcoin market and cause a large run-up in price. This theory stems from an academic paper, which cast Tether in a very damning light. And it also led many to believe that the initial bitcoin craze was manufactured and destined to bust.