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SafeMoon burst on to the cryptocurrency market place earlier this year – and now the digital coin is seeing further gains.
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Billed as the mother of all cryptocurrencies, Bitcoin which is a decentralised digital currency was created by someone called Satoshi Nakamoto (possibly a pseudonym) in 2009. As with most cryptocurrencies, Bitcoin is without a central bank or single administrator that can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a Blockchain, according to IANS report.
The market for cryptocurrencies has roughly quadrupled from its 2020 year-end value [File: Paul Yeung/Bloomberg]
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If an investor believes in the technology-backed digital currency, then cryptocurrency should be his cup of tea. Just a decade-old asset class, it has yielded astronomical returns over the years. Some investors look to use these digitally coded tokens to hedge against inflation. Despite high volatility and speculations, there are multiple reasons that they can become mainstream in the coming future.
Inspired by the hugely popular Netflix series Squid Game, the tokens had rocketed in value.
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Douglas Horn, the chief architect of Telos, told Business Insider that they kept away from marquee investors because they didn’t want to create any big whales that could influence the price of the TLOS token.
Bitcoin is the world’s most widely used cryptocurrency and is generally credited with bringing the movement into the mainstream.
Three Bitcoin (BTC) on-chain indicators signaling a bullish end of the year Juan Pellicer · 4 days ago · 4 min read
Elon Musk changes his Twitter name to 'Lorde Edge' - and some users see it as a nod to dogecoin
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Bitcoin’s surge continued overnight on Monday as the cryptocurrency soared to $68,568.85 in value in the early hours of Tuesday morning, according to Coinbase.
Its website carries the slogan ‘Safely to the Moon’ - a play on the phrase first mooted by WallStreetBets on Reddit in an attempt to hype up the price of Dogecoin.