The global crypto market cap jumped about 4 per cent to $2.85 trillion. However, the total crypto market volume was almost flat to $97.46 billion.
According to an article in yesterday’s New York Times (NYT), Brian Brooks departed the CEO position at Binance.US when a $100 million venture capital funding fell through. He’d been in the position for just over three months.
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When you buy cryptocurrencies via an exchange, you purchase the coins themselves. You’ll need to create an exchange account, put up the full value of the asset to open a position, and store the cryptocurrency tokens in your own wallet until you’re ready to sell.
The same goes for the Safemoon exchange compared to the exchanges from the competition. The number of products that the Safemoon ecosystem will host is smaller than competing coins. In the long run, less revenue will be generated on the Safemoon network, and this means the rewards from token staking will be less compared to platforms like Bitrise.
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It is unclear what impact these investigations may have had on Brooks’ decision to resign.
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Mr Rocket also cited some concerns over whether there is a "strong liquidity pool" or not.
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Bitcoin’s bullish price rise to near $70,000 in value comes as investors hope to see the $1 trillion market cap remain firmly in place ahead of a volatile trading period.
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One of the most appealing factors is that Safemoon rewards people who hold the token by distributing funds that the platform receives from the people who sell the token. In addition, Safemoon has recently released its own wallet on Google Play. Many investors believe this is a sign that the company are in the growth phase, with more announcements in due course.
Find the latest cryptocurrency news, updates, values, prices, and more related to bitcoin, Etherium, Litecoin, Zcash, Dash, Ripple and other cryptocurrencies with Yahoo Finance's crypto topic page.
Bitcoin (BTC) and Ether (ETH) have again risen to a new all-time high on Nov. 10, indicating that the trend remains firmly in favor of the bulls.