To investors hunting for the next Dogecoin, the more than 19,000 per cent price gain that cryptocurrency SafeMoon posted in its early weeks was like catnip. Though the price of the four-month-old token has dropped since then, more than 2.4 million investors have bought it, according to its developers.
Its Facebook page states: "Remember, getting to the moon takes time and the longer you hold the more tokens you pick up."
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As its name suggests, you can use cryptocurrency to make purchases. But your purchasing power is limited; crypto isn’t yet widely accepted among retailers and other businesses.
In other words, if you're waiting for Safemoon to hit $1, you'll likely be waiting for a long time.
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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.
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Cryptocurrencies and decentralised finance tokens are also highly volatile, so your cash can go down as well as up in the blink of an eye.
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Although CZ is the leader of Binance, he is not in charge of running Binance.US. In fact, in April 2021, Binance.US announced that it hired Brian Brook as its CEO. Brian Brooks is a former Coinbase executive who also served as Donald Trump’s Acting Comptroller of the Currency.
Specifically, “5% Holder Rewards are dispersed to all token holders relative to their holding percentages,” DogeZilla claims.
Clear regulation would mean the removal of a “significant roadblock for cryptocurrency,” says Wang, since U.S. firms and investors are operating without clear guidelines at the moment.
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Among the crypto coins likely to upset Safemoon is the Bitrise coin, which is the fastest growing crypto as of writing. The coin was launched at the end of July. Shiba Inu is another coin that has been doing very well since it was launched in August. However, experts have put Safemoon against Bitrise, which is now being taunted as the next 'Safemoon.'
In preparation for the snapshot, deposits and withdrawal of OMG tokens will be temporarily disabled on November 11, 2021, at around 6.45 pm EST/3.45 pm PST. Trading, however, will not be affected.
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