Some experts say this is high risk as SafeMoon’s success relies heavily on more and more people buying the currency to keep the price up.
“Don’t check on it. That’s the best thing you can do. If you let your emotions get too much into it then you might sell at the wrong time, make the wrong decision,” says Yang.
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SafeMoon listed three reasons why the V2 upgrade is expected to boost the demand for the token in a recent tweet:
Bitcoin notches new all-time high after inflation data shows prices are surging at the fastest rate in 30 years
He would be replacing Valery Vavilov, who will stay on as Bitfury’s “chief vision officer.”
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Business News›Markets›Cryptocurrency›Top cryptocurrency prices today: Cardano, Polkadot, Dogecoin shed up to 5%
Binance has recently attracted regulator attention around the world. While Binance.US is a separate legal entity from the main Binance platform, it is 90% owned by Changpeng Zhao, who started and controls Binance.com, the world’s largest cryptocurrency exchange. The NYT said it was regulatory attention in the U.S. over money laundering and tax issues combined with the common ownership that concerned potential investors. GreatPoint Ventures confirmed to the NYT it considered investing and declined.
Douglas Horn, the chief architect of Telos, told Business Insider that they kept away from marquee investors because they didn’t want to create any big whales that could influence the price of the TLOS token.
Although exact active currency numbers fluctuate and individual currencies’ values are highly volatile, the overall market value of all active cryptocurrencies is generally trending upward. At any given time, hundreds of cryptocurrencies trade actively.
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The majority of the crypto currency market saw prices crash once more on the morning of 22 June following China’s clampdown on digital currencies.
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It is also important to mention that Bitrise is one of the coins that Safemoon lost whales to some time ago. This is just one sign that Safemoon is in deep trouble.
Initially, Binance.US considered listing up to 30 crypto assets, with those deemed most important making it to the Phase 1 list. Some have noted the absence of high-profile Binance IEOs (initial exchange offerings) from this list as well as the lack of support for Tron (13th by market capitalization at the moment).
Access SafeMoon on-chain analysis and actionable signals as a member of CryptoSlate Edge. @safemoon safemoon.medium.com/ fb.com/safemoonprotocol /r/SafeMoon/ t.me/safemoonv2 Discord
Senior fellow at the Peterson Institute for International Economics. Adjunct professor at Georgetown University.