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LifestyleMoneyWhy is crypto down today? Cryptocurrency market crash, China ban - prices of Bitcoin, Shiba Inu and Ethereum
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Fast fact, altcoins games and metaverse tokens are showing user-driven, huge popularity, and their continued presence in the crypto industry these days. In fact, their presence has been well-felt since the beginning of this year.
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Bears think tech earnings aren't sustainable but fundamentals are strong: Wedbush Securities' Ives Subscribe to BNN Bloomberg Newsletters BNN Bloomberg Personalities Weekly Guest Schedule Channel Guide Contact Us Privacy Policy Political Ad Registry Terms & Conditions FAQ FP CryptoDecoded: Join us at our free crypto and blockchain events. FP CryptoDecoded: Join us at our free crypto and blockchain events. Register now> Share this Story: After 19,000% early gain, crypto SafeMoon’s rules to tamp down selling raise red flags Copy Link Email Facebook Twitter Reddit Pinterest LinkedIn Tumblr NewsFP EnergyFP FinanceFP InvestorFP EconomyFP WorkFP CommentNewslettersBusiness EssentialsMoneyWise CanadaRefer a Friend This section was produced by the editorial department. The client was not given the opportunity to put restrictions on the content or review it prior to publication. Breadcrumb Trail Links FP Finance Cryptocurrency After 19,000% early gain, crypto SafeMoon’s rules to tamp down selling raise red flags SafeMoon charges a 10% fee to buy tokens and another 10% to sell — almost unheard of in digital currency world Jul 22, 2021 • July 22, 2021 • 6 minute read • Join the conversation SafeMoon calls itself a DeFi token, or one that uses decentralized finance to govern functions through software, but it has a chief executive officer and chief operating officer. Photo by SafeMoon Article content
Users can create scenes, graphics, challenges as well as trade digital assets including LAND, estates, and avatar apparel.
Cryptocurrency is a type of currency that’s digital and decentralized. Cryptocurrencies can be used to buy and sell things, and their potential to store and grow value has also caught the eye of many investors.
Altcoins also sometimes differ in the method of verification used to authenticate transactions. While some altcoins use Proof-of-Work systems, others use Proof-of-Stake consensus, which replaces miners with validators. Proof-Of-Stake mining requires a lot less energy and fewer resources than Proof-Of-Work systems since Proof-Of-Work miners have to do much more ‘work’ to mine blocks.
Elon Musk’s announcement that Tesla would no longer be accepting Bitcoin as payment on environmental concerns was followed by China issuing a crypto crackdown.
The market has been quite bullish on Bitcoin. Despite more than 13,000 cryptocurrencies listed on CoinMarketCap, Bitcoin remains the dominant digital currency.
The scope of the Binance.US error, however, was in a league of its own and did not go unnoticed by market participants.
Musk reaffirmed his belief that cryptocurrency has a “promising future” but that it “cannot come at great cost to the environment”, in his Twitter post.
The flag-wavers point to these and other concerns to warn that SafeMoon may not, in fact, be safe.
Last but not least, Galaxy Digital Holdings Ltd (OTC: BRPHF) CEO Mike Novogratz also recently said he expects Bitcoin and the crypto market as a whole to pull off another "parabolic move."
If the price turns down from $1.41 but rebounds off the $1.24, it will suggest that traders continue to buy on dips. That will increase the likelihood of a breakout of $1.41. This positive view will be negated if the bears sink and sustain the price below the 20-day EMA ($1.17).
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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