There are so many areas Safemoon is falling short. In the products, there is so much competition Safemoon is getting from the likes of Bitrise crypto coin. For instance, Safemoon wallet is deemed inferior to Bitrise dApp wallet.
When bitcoin was rising last year, it seemed like a trend everyone from your grandmother to your barista was suddenly becoming hip to. Of course plenty of folks cautioned that it could be a bubble, but it’s always hard to realize such a thing when you’re in the midst of it. It’s free money, right? Why not get in on it? (Just don’t remortgage your house!)
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Bitcoin had rallied 220% in 4Q 2017 and if history repeats itself, Bitcoin could reach $96,355, which could potentially be this cycle’s top.
However, cryptocurrency experts had warned of several tell-tale signs that it was likely to be a scam.
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— Ivelisse Porroa-Garcia is now director of government affairs at Ferox Strategies. She previously was policy director for the Congressional Hispanic Caucus.
US consumer prices rise at fastest pace in three decadesElectric vehicle start-up Rivian soars on stock market debutMcKinsey partner accused of insider trading on Goldman Sachs dealElon Musk offloads nearly $5bn in Tesla sharesUS government debt sells off sharply on inflation surge
Coinbase made headlines recently as the first crypto exchange to go public on the Nasdaq, and established firms like Fidelity are adding crypto to their investment offerings. The adoption of online payments using crypto is growing too, thanks to brands ranging from legacy publisher (and NextAdvisor partner) TIME to digital payment facilitator PayPal and international auction house Sotheby’s.
The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin. (Pic: Shutterstock)
Although Coinye’s peer-to-peer network remains active and it’s still technically possible to mine the currency, person-to-person transfers and mining activity have collapsed to the point that Coinye is basically worthless.
The most popular cryptocurrencies are currently Bitcoin, Ethereum and Litecoin. These dominate the cryptocurrency market and are highly popular among traders and investors.
“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.”
The SafeMoon Protocol is a community driven, fair launched DeFi Token. Three simple functions occur during each trade: Reflection, LP Acquisition, & Burn.
Cryptocurrency is going mainstream — and becoming increasingly difficult for investors to ignore.
"After hitting fresh milestones and hitting new ATH’s backed on the US CPI Inflation figures for October, traders began to book profits," it added. "Such corrections do not seem to be a major cause of concern just yet."
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