Although exact active currency numbers fluctuate and individual currencies’ values are highly volatile, the overall market value of all active cryptocurrencies is generally trending upward. At any given time, hundreds of cryptocurrencies trade actively.
Something is brewing over at SafeMoon. The DeFi project is close to launching a widely anticipated V2. The team is targeting greater adoption and additional use cases with the launch of V2.
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The pair could first drop to $4,146.30 but if this support also gives way, the correction could reach the psychological support at $4,000.
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An early-morning error led to the value of Bitcoin dropping nearly 87 percent on Binance's crypto exchange.
However, as the price is pretty much at the same level as it was in April, if you were to invest in Safemoon token for purely speculative reasons, then this level would be a decent area to buy at. There seems to be a minor support level around the area that price is currently at, which provides an optimal place to buy. Again, due to the low liquidity and lack of trading volume, this support level may not hold – so it’s worth considering this risk before investing.
Funding: This work was supported by the Engineering and Physical Sciences Research Council (EPSRC). The funding was received by Ross Phillips (RP) via the DTC in Financial Computing & Analytics; reference number: EP/L015129/1; http://gow.epsrc.ac.uk/NGBOViewGrant.aspx?GrantRef=EP/L015129/1. The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript.
No matter if crypto is going up or down, the best thing you can do is to not look at it. Set it and forget it like you would any traditional long-term investment account. “If you let your emotions get too much into it then you could sell at the wrong time, or you might make the wrong decision,” says Yang. “You stress out about it, and I don’t think that’s a healthy way to approach it.”
SafeMoon is also preparing to launch a cryptocurrency exchange, which apparently is not tied to V2.
Coins supported currently are: VET, XTZ, ATOM, EOS, ONE, and ALGO. You can earn up to 10% annually through staking with Binance.US, and you may still make trades while taking part.
Time will tell whether this is the case, but right now, the Safemoon price is trading pretty close to where it was in April 2021, right before the massive price increase. Since the all-time high of $0.00001094 back in May, the Safemoon price live dropped over 87%. Furthermore, the trading volume is extremely low, with CoinGecko reporting that just over $3.5 million worth of Safemoon was traded in the last 24 hours.
Safemoon is one such smart contract-based token. It does not have its own blockchain; its supply is managed by a smart contract on Binance’s in-house blockchain.
After the flash crash, Bitcoin's level on Binance U.S. "almost immediately snapped back to where it had been," according to a Bloomberg report.
Markets data delayed by at least 15 minutes. © THE FINANCIAL TIMES LTD 2021. FT and ‘Financial Times’ are trademarks of The Financial Times Ltd.
A look at recent charts shows that Safemoon has been on a downtrend since early November. Safemoon has also not been doing very well since its last all-time high around April 21, 2021. Despite rising in mid-May, the next time Safemoon saw bullish growth was at the end of October.
“It was almost like you just gave a 21-year-old a million dollars,” Harrison said. “I get it -- they were excited to be so popular.”