When new cryptocurrencies enter the market, often there isn’t much information about what they do or who their development team are. Thus, investors must read between the lines to determine whether the crypto is a viable investment or not. With that in mind, let’s dive into what SafeMoon is and its price history.
Bitcoin’s bullish price rise to near $70,000 in value comes as investors hope to see the $1 trillion market cap remain firmly in place ahead of a volatile trading period.
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Wavelet coherence plots between (a) Bitcoin and Litecoin prices; (b) Bitcoin and Monero prices; (c) Bitcoin and Ethereum.
The tecg titan said it wanted to create a separate, private currency system to allow users to make cross-border payments more easily.
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.”
Additionally, crypto regulation outside the U.S. has changed over time, based on evolving regulatory guidelines. The fifth Anti-Money Laundering Directive from the European Union, for example, entails that crypto buying, selling and other operations must comply with certain guidelines in certain regions.
The village split in two by climate change. VideoThe village split in two by climate change
The original cryptocurrency, Bitcoin, is a capped cryptocurrency. This means after 21 million Bitcoins are mined, no more will be mined.
Its use as a monetary system is still crypto’s most lucrative feature. It allows users to send cryptocurrencies between parties in exchange for goods and services provided. Because cryptocurrencies are not controlled by any central authority, it has unique advantages. There are usually little to no processing fees. There is less government control and regulation. This means that cryptocurrencies are portable, inflation-resistant, and transparent in their transaction history.
SafeMoon price has made some astounding progress in October, rallying over 145% from the lowest open in its history on the first day of October to its present new two-month high. After hitting the required $0.0000024 level above the Cloud, SafeMoon spiked on Monday for a gain of over 22%. And it is likely to continue a move higher before facing any resistance.
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Dogecoin (DOGE), denoted by its immediately recognizable Shiba Inu mascot, is a variation on Litecoin.
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Coinye, a semi-defunct cryptocurrency, is worth mentioning solely for its bizarre backstory.
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