Another factor that crypto experts have mentioned regarding the competitiveness of the Safemoon coin is the speed of product release. Since the launch of the Safemoon token, only the Safemoon has been released. All other Safemoon products are in the development phase. This is not the case with the Safemoon coin contest, like Bitrise, which in short released several products, including a great dApp wallet.
Regarding regulatory attention, in late June, the UK’s regulator, the FCA, issued a statement that “Binance Markets Limited is not permitted to undertake any regulated activity in the UK.”
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Interestingly, the breakout was initiated right as a report from the United States Bureau of Labor Statistics (BLS) showed a sharp 6.2% annual rise in the Consumer Price Index (CPI), a figure that has hit its highest mark in 30 years.
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Bitcoin’s price has taken a wild ride so far in 2021, and in November set another new all-time high price when it went over $68,000. This latest record high follows previous high points over $60,000 in April and October, as well as a summer drop to less than $30,000 in July. This volatility is a big part of why experts recommend keeping your crypto investments to less than 5% of your portfolio to begin with.
That lack of widespread adoption, plus crypto’s volatility, limits its use as a currency, says Roger Aliaga-Díaz, principal and senior economist with Vanguard Investment Strategy Group.
Jegadeesh, N. and S. Titman (1993), “Returns to buying winners and selling losers: Implications for stock market efficiency”, The Journal of Finance 48 (1), 65–91.
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As of 9:54 a.m. in New York, the overall market cap of cryptocurrencies hit $3.3 trillion, according to CoinGecko pricing. The third- and fourth-biggest tokens, Binance Coin and Solana, have added more than 20% in the past seven days; all of the seven biggest coins are up over the last week.
In addition, the hashtag #SAFEMOONWALLET trended on Twitter for days leading up to the intended release. It also made an appearance on a billboard at London’s Piccadilly Circus.
Very generously our tweeter credits another crypto fanatic for the remarkable analysis, who had drawn up his own chart just days earlier:
For more on trending cryptocurrencies, check out the latest on Save Planet Earth, IOST, Bonfire, Arweave, and TrueFi.
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