By hitting the $200m from a previous $150m market cap, Bitrise has again proven the pessimists wrong. The market cap shows that the coin is quickly gaining the confidence of the investors. There are many developments that have taken place in the last few days that have significantly driven such fast growth.
Safemoon crypto is not a coin, but a token. It has seen major price rises movements over just a few months in 2021. The price surged by tens of thousands of percent in April and May, then lost most of those gains by August. Such volatility is far from unusual in the crypto space.
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Fig 4. Wavelet coherence scalograms between online factors and price (with GSADF test bubble overlay) for Ethereum and Monero.
The SafeMoon price is not joining in the broader market rally today and is down about 4%. Over a longer term view, however, SafeMoon is doing just fine. Since October, the SafeMoon price has rallied over 160%. The recent declines could be investors taking some profits off the table in a broader market that is trading at all-time highs.
Cryptocurrency values are up, but so is the price of everything else in the United States! Investor curiosity in BTC grows as data shows U.S. inflation rose to a 30-year high.
"Nevertheless, with central banks likely to begin raising rates and tapering its stimulus package, investors are looking for a store of value that is perhaps less susceptible to these changes.
SafeMoon is a newly added cryptocurrency that has seen a rise in its rates since its launch in March 2021.
You can't ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls
Indeed, following its nearly $20,000 peak, bitcoin in early 2018 dropped to around $10,000 and hovered there for a while.
Altcoin. Refers to any cryptocurrency other than Bitcoin, and there are thousands.
Pa´stor, L. and P. Veronesi (2003), “Stock valuation and learning about profitability”, The Journal of Finance 58 (5), 1749–1789.
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The cryptocurrency market is a vast and sometimes confusing place with different coins to choose from.
Developed in 2012 by Toronto-based programmer Vitalik Buterin, and backed by an initial $18 million crowdfund, Ether (ETH) is a cryptocurrency that underpins a blockchain network called Ethereum. While Bitcoin was designed to be a digital currency, Ethereum is a more general implementation of blockchain technology.
The team announced a few days back that Safemoon whales had joined the coin. Since then, there has been an influx of new crypto members joining Bitrise coin. All these factors have significantly driven the market cap up by +$200 at the time of writing. But what are the underlying factors driving the huge number of investors joining Bitrise crypto coins every day?
When it comes to fees, both platforms have the same standard fee of 0.1%. The difference is that additional fees vary, depending on whether you are within the U.S. or not. For example, fees for bank transfers to your Binance account are free outside the U.S. However, depending on your method of transfer, U.S. users may pay up to 4.5%.
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