Stablecoins peg their values to various fiat currencies or assets, such as gold. Most often pegged one-to-one with the U.S. dollar, stablecoins give users a way to sell into an asset carrying the same value as a national currency, but one that can still be transacted and stored in a crypto-esque fashion within the ecosystem.
Anyway, SafeMoon has been under the eyes of skepticism. Professionals say that it is an unpredictable business to put money into SafeMoon as it isn’t directed by using any particular means. It has been compared with a Ponzi Scheme as most liquidity is claimed by the group. SafeMoon has excused these cynics and has declared its precise path for the coming years. The group intends to coordinate SafeMoon with African Markets, investigate different trades like Binance, and even begin its own trade.
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That 90-day period ends September 12, so that’s effectively the deadline for Binance to launch its new U.S. exchange if it is to avoid impacting its American user base.
“If it is a Ponzi, get in on the ground floor,” he said. In about an hour, the price of SafeMoon rose 18%. A Barstool Sports spokesperson was unable to confirm whether Portnoy still owns SafeMoon.
People in the crypto community say it will be the next “Shiba Inu or Safemoon” due to its tremendous growth and expected great things ahead.
If current trends continue, observers predict that the last Bitcoin unit will be mined sometime in the mid-22nd century, for instance — not exactly around the corner.
“You can’t ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls,” she said.
Bitcoin is down roughly 20% week-over-week, around 30% from its all-time high of nearly $65,000 early last week. The market cap of the coin has dipped below $1 trillion. The tumble has been less severe for Ethereum, which hit an all-time high just yesterday but has since dropped 13% as the broader market has crawled back.
Ethereum price enters into price discovery mode as it continues to press on towards new all-time highs. Little exists in the form of resistance for Ethereum. Ethereum price has few, if any, resistance levels ahead. The only level nearby that might cause some selling pressure and profit-taking is the psychological number of $5,000.
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ETH is a far different cryptocurrency from BTC because it isn’t a cryptocurrency only; network developers can also use it to create their cryptocurrency. Although it has a far inferior value to bitcoin in the market, it is far ahead of other digital currencies. As a result, it represents a profitable investment for beginners and expert crypto traders.
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Bitcoin wasn’t the only cryptocurrency to feel the effects of Tesla’s decision. (Pic: Shutterstock)
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Gas shortages at the pumps have spread from the South, all but emptying stations in Washington, D.C., following a ransomware cyberattack that forced a shutdown of the nation’s largest gasoline pipeline.
While the biggest cryptocurrency trades strong, its market dominance has been dipping as investors shift to altcoins, said CoinDCX Research Team.
Blockchain. A permanent online ledger that functions as a public accounting of cybercurrency transactions that have been executed. New “blocks” are added to the blockchain after the confirmation of each set of transactions.