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People considering investing in Bitcoin or shares and stocks have also been warned over "risky" tips being shared on TikTok.
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We’ve seen Bitcoin hit multiple new all-time high prices, regulatory talks with potential to have big impact on the industry, and more institutional buy-in from major companies. All the while, people’s interest in crypto has skyrocketed this year: it’s a hot topic not only among investors but in popular culture too, thanks to everyone from long-standing investors like Elon Musk to that kid from your high school on Facebook.
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The cryptocurrency has continued to rise and fall as other global administrations and regulators mull legislation to curb increased crypto activity often attributed to laundering and crime.
SafeMoon technically isn't a cryptocurrency but a DeFi token, according to its website.
As this platform does business as a separate entity from Binance, the users’ digital assets will be stored in Binance.US wallets only.
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Over the last 24 hours, Ether (ETH), the currency for the Ethereum network, went from ₹3,86,457 to ₹3,80,498, with a market cap of ₹41.7T. In the same time, Litecoin (LTC) moved down from ₹23,859 to ₹21,497, a change of -9.90%, with a market cap of ₹1.4T. Ripple, or XRP, is another hugely popular token, with a market cap of ₹4.3T. In the last day, its value has changed -7.36%, moving from ₹105.61 to ₹97.85.
After all, gold is often touted as the ultimate inflation hedge, yet it’s still subject to wild volatility — more so than many developed countries’ fiat currencies.
Bitcoin Gold was spawned as a way to make Bitcoin a more user-friendly experience. Developers of Bitcoin Gold have promised that cryptocurrency will be a network for experimentation, allowing users to develop products while working with a protocol that is similar to that of Bitcoin.
Cryptocurrency can gain value on exchange platforms. It increases in value based on supply and demand.
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Baker, M. and J. Wurgler (2006), “Investor sentiment and the cross-section of stock returns”, The Journal of Finance 61 (4), 1645–1680.
Cryptocurrency market is down 2.24% on the last 24 hours (2.15pm, Thursday 11 November).
In addition, the hashtag #SAFEMOONWALLET trended on Twitter for days leading up to the intended release. It also made an appearance on a billboard at London’s Piccadilly Circus.