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We couldn’t find any information from Binance.US about its security measures and protections, and the company did not respond to a request for comment. The most descriptive information on the Binance.US site is the following statement, from its homepage: “We use state-of-the-art storage technology to protect your cryptocurrency and USD assets.”
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“One of our institutional traders indicated to us that they had a bug in their trading algorithm, which appears to have caused the sell-off,” Binance.US said in an emailed statement. “We are continuing to look into the event, but understand from the trader that they have now fixed their bug and that the issue appears to have been resolved.”
SAFEMOON launched earlier this year - and it's already attracting attention from cryptocurrency investors.
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An early-morning error led to the value of Bitcoin dropping nearly 87 percent on Binance's crypto exchange.
This company has made different products, including one called “Bitrise Dapp,” a deflationary payment network token that also does well with its price right now.
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?
It follows recent crashes brought on by Tesla making a u-turn on accepting Bitcoin as payment for its products and China clamping down on initial coin offerings, block exchanges and warned against speculative trading.
LUMMIS: We want the innovators to innovate. We want to create a space where the United States is the leader in opportunity for the creation and use of digital assets.
Functionally, most cryptocurrencies are variations on Bitcoin, the first widely used cryptocurrency.
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.
Currently, the global crypto market cap stands at $2.94 trillion, an increase of 3.21%. Other cryptocurrencies were also trading in the green.
Yet, trading on Binance.US obliges the customers to undergo the KYC (know your customer) procedure. First, the users are required to go through either of four types of verification available on the platform:
Overall, we’d urge you to do your own research if you were to invest in Safemoon. Common investment advice states that the cryptocurrencies which perform the best over the longer term are those with real-world utility, which Safemoon doesn’t seem to have at present. Although the developers may improve the protocol and create some valuable use cases, there is still the chance that this coin could be a ‘memecoin’.
Subscriber growth is harder to track than the other metrics. Only the current subscriber count is displayed for a particular subreddit, and historical data cannot be rebuilt retrospectively as subscribers do not have a visible historical imprint. A third-party website, RedditMetrics (http://redditmetrics.com/), has been retrieving and storing real-time subscriber counts; however their data on the particular subreddits of interest only reaches back to 2012 so the subscriber growth analysis can only start at this point. Fig 2 shows the three social media metric time series for each cryptocurrency; note that subscriber growth is the only metric that can have negative associated values, caused by more users unsubscribing than subscribing on a particular day.