But whether that growth is sustainable, and what it means long-term, is still in question. “This crypto, blockchain technology, the public interest in it right now is being driven by a kind of speculative fever,” says Dr. Richard Smith, executive director of the Foundation for the Study of Cycles, a nonprofit organization dedicated to studying recurring patterns throughout economies and cultures.
Additionally, 4JNET has its smart contract audited by a world-leading blockchain network security firm. CertiK is known for working with big platforms. Their portfolio includes providing audit services for Binance, Huobi, and OKEx, in addition to blockchain ecosystems like Ethereum, Terra, and Neo.
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Vavilov said he had found an “immediate energy fit” with Brooks, who was acting chairman of the Office of the Comptroller of the Monetary Authority, a US banking regulator until January. He previously worked as Chief Legal Officer at the cryptocurrency exchange Coinbase.
Plenty of altcoins have also taken a beating. Dogecoin erased the breakneck gains of the week and then some, nearly halving its price after a meteoric climb last weekend. XRP is down 35% week-over-week, Stellar is down 30% and Polkadot is down 25% since last week.
This company has made different products, including one called “Bitrise Dapp,” a deflationary payment network token that also does well with its price right now.
Currently, the global crypto market cap stands at $2.87 trillion, an increase of 4.70%. Other cryptocurrencies were also trading in the green.
Fundamental analysis is another critical component when investing in cryptocurrency, as it can help determine whether a coin is overvalued or undervalued. In the case of Safemoon, the research we conducted for our Safemoon price prediction found that the coin’s market cap was only $799 million at the time of writing, according to data gathered from CoinMarketCap. This is extremely small for a cryptocurrency and means that Safemoon isn’t even in the top 200 largest cryptos in the world.
According to the Wall Street Journal, Zhao stated that he would be willing to step down as the CEO of Binance in order to resolve the company’s regulatory problems.
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In turn, cryptocurrency exchange platforms such as Binance have been feeling the heat across the world as regulators and governments have started to pay close attention to the operations of such platforms in the wake of the global crackdown on crypto.
In this eventuality, BTC could drop toward the 100 or 200 four-hour moving average. These demand zones sit at $59,000 and $52,000 respectively.
Despite the new record high, Bitcoin is still a highly volatile and speculative investment. In fact, the last time the crypto saw a record high in mid-April, it abruptly lost over half of its value and plunged to around $30,000 by mid-July.
Cryptocurrency is a type of currency that’s digital and decentralized. Cryptocurrencies can be used to buy and sell things, and their potential to store and grow value has also caught the eye of many investors.
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NFTs have taken the place of trading paper cards and go beyond sports in today’s world
Corbet, S., B. Lucey, and L. Yarovaya (2018), “Datestamping the Bitcoin and Ethereum bubbles”, Finance Research Letters 26, 81–88.