"It is one of many schemes by which naïve retail investors are drawn in and exploited by malevolent crypto promoters," Cornell University economist Eswar Prasad told the BBC.
But what is SafeMoon and why has it garnered such an interest? And is it something you should look out for?
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The nation’s president Nayib Bukele passed a bill in June that stated that from September 7, Bitcoin can be used in any transaction and all businesses must accept the e-currency as payment.
Despite the concerning news and slight pullback in traditional markets, BTC and ETH prices rose, a dynamic that analysts such as Anthony Pompliano refer to as “asymmetric price action” where investors see a red hot stock market and unsustainable central bank monetary policymaking risk-on assets like Bitcoin as attractive investments and hedges against gold, the dollar and inflation.
Polkadot was designed to reward genuine investors and sorts out those that are only trading to make fast money from crypto. Investors that are well-engaged on this platform also help with decisions such as network fees, removing or establishing parachains, and network upgrades.
If you keep up with crypto news, you may have heard the name Safemoon quite a lot in the first half of 2021. If you are interested in day trading, talk of Safemoon’s high volatility and rapidly increasing market cap may have piqued your interest. Maybe you’re looking to buy, hold and capitalize on the next big crypto price rally. What is Safemoon Crypto?How to Buy Safemoon Crypto?Where to Buy Safemoon Crypto?Safemoon FAQConclusion
Discrepancy in price of token on spot and futures markets opens opportunities for arbitrageurs
Decentralized NFT Marketplace: The EverGrow team is also creating the world's first decentralized NFT lending platform. The platform will be based on BSC, which would enable NFT owners to easily borrow against their NFTs as collateral at reasonable interest rates without having to sell them. This will allow individuals to generate money just by lending their NFTs.
Cardano reveals the extent of progress on its plans to digitally connect Zanzibar Samuel Wan · 2 days ago · 2 min read
Before interacting with any given asset, it may be important to look up the asset’s type and function depending on your goals. Not all digital assets were created for investment purposes.
"Nowadays new coins can be listed on decentralised exchanges on the first day they are created, without any regulation or due diligence," said Jinnan Ouyang from Singapore-based crypto company Openmining.
The inability to get SEC approval really held back bitcoin and cryptocurrencies in general. It sent the message, says Innes, “that there wasn’t underlying support from Wall Street.” Meanwhile, the price dropped from around $10,000 to $6,000.
As we don’t know exactly how to classify them, it’s difficult to attribute a direct causality to a specific factor and a crypto’s rise or dive in value.
We’ll go through the several factors that influence demand for a particular crypto, but before we do that, it’s important to note that cryptocurrencies don’t fit comfortably into our existing asset categories.
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Indians' investments in crypto grew from about $200 million to nearly $40 billion in the past year
Yet in some ways, the crypto crowd were not wrong. In the almost 18 months since Covid-19 was declared a pandemic, the price of bitcoin has risen by about 525 per cent, from just under $8,000 to a three-month high just above $50,000 on Monday. XRP has climbed by a similar amount to trade around the $1.25 mark.