Early cryptocurrency proponents shared the goal of applying cutting-edge mathematical and computer science principles to solve what they perceived as practical and political shortcomings of “traditional” fiat currencies.
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The scope of the operation is not unlike the search for new prime numbers, which also requires tremendous amounts of computing power.
Despite the massive swing in value on the Binance US exchange, Bitcoin’s value on other exchanges remained stable. There has been speculation on the exact cause of the spike, though Binance offered a short statement to Bloomberg explaining that one of its institutional traders was responsible.
SafeMoon recorded a 99% rise in one day in April after Bitcoin had its biggest single drop for months.
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And while proponents tout cryptocurrencies as potentially lucrative alternative investments, few serious financial professionals view most coins — with the important exception of Bitcoin and a few others — as suitable for anything other than pure speculation.
Holders earn passive rewards through static reflection as they watch their balance of SafeMoon grow indefinitely.
Bitcoin made a new life high at $66,998 on 20th Oct and since then it entered into a retracement phase and subsequently prices dipped below $59,000 in the following days.
The week has been much more successful for some of SAFEMOON’s fellow DeFi tokens. Kava.io (KAVA) hit an all-time high on August 22, and data indicated that it has made a couple of further attempts to reach those heights since. In addition, Terra (LUNA) also achieved its latest all-time high, hitting $36.61 in the morning of August 29. This milestone is the result of an impressive total growth of nearly 30%. It also brings the token closer to a spot in the top 10 most valuable cryptocurrencies by market capitalization. LUNA is currently ranked 11th.
According to CNBC International’s forecast, SafeMoon crypto fans say it’s trading down to the unprecedented wave of stimulus from governments and central banks around the world to tackle the coronavirus crisis would only make investing in SafeMoon trade rise. Such measures, they say, devalue fiat currencies, making SafeMoon a profitable investment in the cryptocurrency market.
Cryptocurrency is going mainstream — and becoming increasingly difficult for investors to ignore.
We explain what you need to know about SafeMoon and how its price is predicted to change in 2021.
For more on trending cryptocurrencies, check out the latest on Save Planet Earth, IOST, Bonfire, Arweave, and TrueFi.
— Binance.US also hired a former House Financial Services aide and a former House chief of staff from Ice Miller Strategies to lobby on its behalf, according to disclosures filed last week. Though the company has not previously hired lobbyists in Washington, last August it joined the Blockchain Association, an industry lobbying group that was a vocal player in negotiations over cryptocurrency tax provisions in the bipartisan infrastructure bill and that has spent nearly $300,000 on lobbying in the first half of 2021.
After that, five percent of the tax is then allocated to people who still own SafeMoon currency. This is to prevent the price from dropping as people start selling the token.