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As per CoinMarketCap, the value of SafeMoon currency is 0.000003967 US dollars, with a market cap of 2.2 billion US dollars. The digital currency has encountered a consistent expansion in its costs since its launch in the market.
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We should also point out that if we had been given labels on the Y-axis (which obviously we are not), it might become clear that these “daily Covid cases” refer to US Covid cases. Because while a US chart looks exactly like the one above, a chart showing worldwide Covid cases doesn’t; instead it looks like this (according to Google):
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One of the key principles of smart investing is: Never invest in anything you don't understand.
Cryptocurrencies’ supply and value are controlled by the activities of their users and highly complex protocols built into their governing codes, not the conscious decisions of central banks or other regulatory authorities.
NEW BUSINESS: Binance.US, the American arm of the world’s largest cryptocurrency exchange, hired its first lobbying firms last month, newly filed disclosures show, as policymakers in Washington face calls to rein in the rapidly growing and mostly unregulated industry. Hogan Lovells’ Ivan Zapien, a Democratic lobbyist who previously was chief of staff to now-Senate Foreign Relations Chair Bob Menendez (D-N.J.), and former House GOP aides Aaron Cutler and Chase Kroll will lobby for the exchange.
The world of cryptocurrencies can be a tricky field to navigate for the uninitiated.
For those who invest in crypto for the long-term using a buy-and-hold strategy, swings like this are to be expected. The recent dips are nothing to be overly worried about, according to Humphrey Yang, the personal finance expert behind Humphrey Talks, who says he avoids checking his own investments during volatile market dips.
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Other criticism of the founding team has come on the back of several promised developments of a Safemoon ‘ecosystem’ (including a bespoke wallet application) that have thus far fallen short of expectations.
Miners’ work periodically creates new copies of the blockchain, adding recent, previously unverified transactions that aren’t included in any previous blockchain copy — effectively completing those transactions.
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Lance Bass on learning to say no and squeezing in self-care as a new dad of twins
The billionaire entrepreneur said: “We are concerned about rapidly increasing use of fossil fuel for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.”
Bitcoin wasn’t the only cryptocurrency to feel the initial effects, with most of the top 10 all experiencing dips in value.