After a year of gains and record highs, crypto currencies are enduring a turbulent time with unpredictable price changes.
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.
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A petition to 'Get Safemoon Listed On Coinbase' has currently gained 4,646 signatures.
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.
SafeMoon app has crossed 600,000 downloads. The team has announced that Bitcoin and Dogecoin will soon be added to the wallet. The partnership with Unicrypt, the multi-chain decentralized protocol, has kept V2 consolidation on track.
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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.
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This positive view will invalidate if the price turns down from the current level or the overhead resistance and plummets below the support line of the wedge.
SafeMoon utilizes a strategy wherein they prevent day exchanging of their coins to fix the value instability issue. SafeMoon declared a remuneration policy for the long-term and earliest holders of the tokens. Individuals selling the tokens will be hit by a 10% punishment charge expense on the exchanges, and 5% of these punishment exchange charges will be dispersed to the current token holders.
While paying for things in cryptocurrencies doesn’t make sense for most people right now, more retailers accepting payments might change that landscape in the future. It’ll likely be much longer before it’ll be a smart financial decision to spend Bitcoin on goods or services, but further institutional adoption could bring about more use-cases for everyday users, and in turn, have an impact on crypto prices. Nothing is guaranteed, but if you buy cryptocurrency as a long-term store of value, the more “real world” uses it has, the more likely demand and value will increase.
Some cryptocurrencies, like Bitcoin, have a finite number of coins that help to generate demand and reinforce their perceived worth. For example, the maximum supply of Bitcoin is capped at 21 million, as determined by the Bitcoin's creator(s).
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Ethereum Classic is a cryptocurrency that has legitimate functions. With decentralised applications on the Ethereum Classic network, one can use bridges to move cryptos to other chains, spend cryptos in real-world instances and authenticate transactions with ease and efficiency.
Laith Khalaf, financial analyst at investment platform AJ Bell, previously told The Sun that although long-term investment is encouraged, SafeMoon "doesn't sound too different from a pyramid selling scheme".
Through instructions in their source codes, cryptocurrencies automatically adjust to the amount of mining power working to create new blockchain copies — copies become more difficult to create as mining power increases and easier to create as mining power decreases.
Former Trump principal deputy solicitor of the U.S. Department of Interior Gregory Zezan argues cryptocurrencies and stablecoins give people financial freedom, which the Biden admin is fighting against.