Its founders have been holding ‘Ask Me Anything’ sessions to reassure potential investors of its legitimacy due to the unregulated nature of cryptocurrencies.
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Bitcoin price hits new record high - why is Bitcoin up today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu (Image credit: Getty Images/Canva Pro)
You can't ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls
FTM has outdone the market in terms of price actions ever since Fantom Foundation announced a 370 million FTM incentive program for developers in August. FTM is currently trading close to $2.6 - up more than 17x from a low of $0.15 in August.
Harrison, who still owns SafeMoon, said that the developers have become more professional since the AMA incident: “They’re a bit more scripted, they sit down, they’re in suits.”
Then 5% goes to buying back and burning tokens to reduce circulation and increase demand for the token. The buyback and burning process is automated. With every transaction, 5% of the 12% fee goes to the Buyback smart contract, which automatically buys tokens from the liquidity pool and burns them. Therefore, Safemoon members would also want to invest in a coin whose supply is diminishing hence a consistent increase in the price of the coin.
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“We’ve seen a tremendous amount of inflow of attention, and that’s going to continue to drive the growth of the industry for a while now,” says Abner.
In addition, the hashtag #SAFEMOONWALLET trended on Twitter for days leading up to the intended release. It also made an appearance on a billboard at London’s Piccadilly Circus.
Billed as the main rival to Bitcoin, Ethereum’s rise has been nothing short of spectacular. You’ll find all the Ethereum news and guides you’ll ever need right here…
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However, as the price is pretty much at the same level as it was in April, if you were to invest in Safemoon token for purely speculative reasons, then this level would be a decent area to buy at. There seems to be a minor support level around the area that price is currently at, which provides an optimal place to buy. Again, due to the low liquidity and lack of trading volume, this support level may not hold – so it’s worth considering this risk before investing.
This page doesn’t just track the latest prices of cryptocurrency though — it also has all the latest news about cryptocurrency that you can read in one place, so that you don’t just know what is happening with your investments, but also why, and can make intelligent and informed choices.
Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC's Cathie Wood.
"For any centralized service, we have to do [client verification] and hold customer data," Zhao said. "On top of that we have to hold customer assets. Unlike banks, when the assets get stolen it's difficult to get them back. There's a high responsibility on the centralized exchanges we need to carry out well."
Fig 3 shows an example wavelet coherence scalogram (the wavelet coherence scalogram for Bitcoin and Litecoin which will be analysed later). All following scalograms use the cross wavelet and wavelet coherence software provided by A. Grinsted [21].