Since Binance doesn't allow for US Dollar deposits and trading, most of the volume on the exchange occurs against stablecoin pairs such as BTC/USDT, BTC/USDC, and BTC/BUSD (BUSD is Binance's native stablecoin). One other factor to note is that although Binance does have more volume than any other exchange, that volume is spread across a much larger pool of cryptocurrencies than other exchanges such as Coinbase and Kraken. Therefore, it's always important to look at the specific asset you're interested in trading in order to determine how liquid (or illiquid) it is.
Among those who called it, hedge fund manager Mark Dow wrote almost exactly a year ago about his decision to short bitcoin after future trading on it first began:
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SafeMoon was created by Karony and two of his fellow developers from TANO, a Provo, Utah-based video game studio with a bare-bones website. It launched in March with a big social media push, including a giveaway of 100 billion tokens (then trading for less than $0.00000001 each) for “lucky winners” who followed @safemoon, liked and retweeted then tagged three friends.
Although mining periodically produces new cryptocurrency units, most cryptocurrencies are designed to have a finite supply — a key guarantor of value.
When that’s the case and demand increases, the price of that underlying asset goes up. Roughly speaking, this is the simplest way to address how the prices of cryptos fluctuate.
The overall market cap of cryptocurrencies hit $3.3 trillion on Monday, according to CoinGecko pricing.
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So far, the main thing that has driven Safemoon has been the hype generated by celebrity backing. Celebrities such as Jake Paul, Afrojack, and Keemstar have also promoted the coin this year, leading to significant price increases.
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The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin.
Yes, there's a second meme cryptocurrency inspired by the meme dog. And a Wednesday flippening shows it's no joke.
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Users should also turn on two-factor authentication if they haven’t already done so.