We’ll go through the several factors that influence demand for a particular crypto, but before we do that, it’s important to note that cryptocurrencies don’t fit comfortably into our existing asset categories.
Bitcoin wasn’t the only cryptocurrency to feel the effects of Tesla’s decision. (Pic: Shutterstock)
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With the V2 upgrade, SafeMoon contracts will have additional use-cases, driving the token’s adoption higher.
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The upward price trend has been predicted purely on the merits of SafeMoon viz. security and reliability. A further influence on prices for this currency can be seen based on the inflow of funds by institutional investors and support to the crypto tokens in the long term. In light of the Pandemic and uncertainty prevailing around it, the cash portfolio has taken a major hit, taking the deficit of nations to a phenomenal level even for developed countries.
Shortly after Bitcoin’s latest all-time high, Ethereum marked its own new all-time high last month when its price went over $4,400.
It was a wild ride for SafeMoon, with its prices exploding in the first few weeks before crashing down.
DeFi and NFT expert Rio Rocket told The Sun that he is hearing "rumblings" from investors noting that they are "unable to take large-scale profits."
The cryptocurrency has continued to rise and fall as other global administrations and regulators mull legislation to curb increased crypto activity often attributed to laundering and crime.
Tim Cook says he owns cryptocurrency - but don't expect it at Apple any time soon
Regulation has come into play worldwide with the growth of the crypto industry. Over the years, the United States has increasingly stepped up its overwatch of the space. The Securities and Exchange Commission (SEC) cracked down on initial coin offerings, or ICOs, after the mania of 2017 and 2018. The Commodity Futures Trading Commission (CFTC) and other U.S. agencies have also engaged in various capacities.
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The monetary authority again reiterated its strong views against cryptocurrencies saying they pose serious threats to the ... Has cryptocurrency become too 'mainstream' in India to be banned?
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Analyst Ken Goldman cites concerns over the imitation-meat company's wider-than-expected third-quarter losses.