Six out of the top-10 cryptocurrencies were trading higher at 9.30 hours IST. Binance Coin and Solana witnessed profit booking whereas XRP gained 9 per cent.
After that, five percent of the tax is then allocated to people who still own SafeMoon currency. This is to prevent the price from dropping as people start selling the token.

Despite the massive swing in value on the Binance US exchange, Bitcoin’s value on other exchanges remained stable. There has been speculation on the exact cause of the spike, though Binance offered a short statement to Bloomberg explaining that one of its institutional traders was responsible.
We further explore the significance of cryptocurrency fundamentals at the aggregate market level using traditional asset pricing tests. For this analysis, we construct risk factors that are based on aggregate values of computing power and network. We denote the aggregate computing power factor with ACP and aggregate network factor with ANET. The innovation in constructing these factors is that we express them in cryptocurrency return units following the factor mimicking portfolio approach (Knez et al. 1994, Lamont 2001, Vassalou 2003).