Still, an increasing number of big, powerful players are validating crypto’s potential.
Some investors have predicted even bigger gains for Bitcoin, despite continued criticism of the cryptocurrency by JPMorgan Chase (JPM)CEO Jamie Dimon, who has called the coin "worthless."
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No. As of writing, Safemoon is not available to trade on Coinbase. However, you can purchase Safemoon on a few other exchanges, including BitLink.
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“We’ve seen a tremendous amount of inflow of attention, and that’s going to continue to drive the growth of the industry for a while now,” says Abner.
Popular cryptocurrencies such as Bitcoin and Ethereum are built on blockchain technology. Blockchains like Bitcoin and Ethereum are constantly growing as new blocks are added to the chain, increasing the security of the ledger dramatically.
As we don’t know exactly how to classify them, it’s difficult to attribute a direct causality to a specific factor and a crypto’s rise or dive in value.
Nostalgia seeps in the trends, whenever the price of SafeMoon cryptocurrency makes a continuous price increase, data of SafeMoon forecast shows the rise was followed by a correction between 20 percent and 30 percent, adding to investor rally of buy and sell. SafeMoon, the world’s best-known and most valuable cryptocurrency based on SafeMoon Protocol price rise, has more than doubled in price this year, a wild run that’s reminiscent of its monster rally in the last month that saw it narrow in on the 0.000004 US Dollar mark.
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The reason behind such revolutionary growth is originally the team behind this project. Its impressive growth is evident from the fact that in just 1 month of launch, it has reached 45k holders and has already paid out $8 Million in reflection to holders of its native token, $EGC. With such an outstanding track record, the project has also clinched the market cap of $600 Million, which is remarkable.
Some cryptocurrencies, like Bitcoin, have a finite number of coins that help to generate demand and reinforce their perceived worth. For example, the maximum supply of Bitcoin is capped at 21 million, as determined by the Bitcoin's creator(s).
It is the latest cryptocurrency to have seen a spike in interest since the turn of the year, following on from the success of Dogecoin, Bitcoin and Ripple XRP in recent weeks.
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.
At Cointelegraph, we are chronicling the ongoing story of cryptocurrency and the rise of a borderless, permissionless financial system. How will industry stakeholders work to make crypto a mainstay in people’s lives? How will crypto investments change the paradigm of the current financial system? And will incumbent and legacy systems accept or fight this change?
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The hyper deflation payment network token has caused ripples in the crypto world and continues doing well on top of all this.