The price fluctuations came as conflicting reports on whether Chinese property giant Evergrande had "defaulted" on its loan surfaced.
Mr Musk has served as a key for driving up the prices for other major meme coins this year, including Dogecoin and Shiba Inu.
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Users should also turn on two-factor authentication if they haven’t already done so.
Founder and CEO of Binance, Changpeng Zhao, tweeted that "Brian's work for Binance.US has been invaluable and we hope he will continue to be an integral part of the crypto industry’s growth, advocating for regulations that move our industry forward."
The bitrise token has been on a hot streak lately, increasing its value by over 3558 percent in just three months. Experts are calling it the next SafeMoon and Shiba Inu Coin.
Customers’ digital assets held on other trading platforms are not automatically transferred to Binance.US. Transferring a cryptocurrency from other wallets requires the customers to use the deposit address on the Binance.US account as the target address. Upon selecting the desired crypto, the user can either copy the address or scan the appropriate QR deposit code. Wallets also support insights into deposit and withdrawal history.
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Marketplaces allow users to promote their NFTs, where buyers can browse through and bid on what they would like to purchase.
Pips are the units used to measure movement in the price of a cryptocurrency, and refer to a one-digit movement in the price at a specific level. Generally, valuable cryptocurrencies are traded at the ‘dollar´ level, so a move from a price of $190.00 to $191.00, for example, would mean that the cryptocurrency has moved a single pip. However, some lower-value cryptocurrencies are traded at different scales, where a pip can be a cent or even a fraction of a cent.
The flag-wavers point to these and other concerns to warn that SafeMoon may not, in fact, be safe.
Shares of Tellurian (NASDAQ: TELL) tumbled more than 15% by 2:30 p.m. EST on Wednesday. Weighing on the liquified natural gas (LNG) stock was news that it closed a debt offering. Tellurian closed its previously announced public offering of senior notes.
But one of these sessions caused SafeMoon’s price to plummet by more than 50 per cent.
And while the cryptocurrency has since dipped slightly on Tuesday afternoon, it is still up by a whopping 350% on Bitcoin’s price at 7 November 2020 after nearing the new $70,000 threshold.