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Pips are the units used to measure movement in the price of a cryptocurrency, and refer to a one-digit movement in the price at a specific level. Generally, valuable cryptocurrencies are traded at the ‘dollar´ level, so a move from a price of $190.00 to $191.00, for example, would mean that the cryptocurrency has moved a single pip. However, some lower-value cryptocurrencies are traded at different scales, where a pip can be a cent or even a fraction of a cent.
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Last year, a California man pleaded guilty to a mining fraud of at least US$722 million through the BitClub Network. In February, a New York man pleaded guilty to running a Ponzi-like hedge crypto fund that stole about $90 million from more than 100 investors.
It remains to be seen if Decentraland turns into the next meme coin of choice for retail investors, but it has lately picked up some traction from Reddit users via threads.
Despite having no top celebrity, actors, musicians, and entrepreneurs backing it, SafeMoon has still managed to gain the limelight. Its investors are mostly common folks spread across the world who want a better life for themselves and their families.
Crypto coins use the process of mining and the resulting blockchain as a physical measure of the currency. This is similar to how Reserve Banks used to have gold reserves that backed their fiat currencies.
In the United States, Binance is also being probed by the Department of Justice, the Commodity Futures Trading Commission and tax authorities, Bloomberg News has reported.
The current Safemoon crypto price is $0.000002663, up more than 17% in the last 24 hour period.
Bitcoin notches new all-time high after inflation data shows prices are surging at the fastest rate in 30 years
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“Where digital assets land, at the end of the day … will be driven in part by regulation, both domestic and international,” Former SEC Chairman Jay Clayton recently told CNBC.
Worth noting: Once upon a time, cryptocurrency mining was a potentially lucrative side business for those with the resources to invest in power- and hardware-intensive mining operations.
As a result of the relationship between supply and demand, the price of a cryptocurrency can be manipulated to an extent. A concerted effort to match all the open orders on a particular crypto across several exchanges will create an artificial shortage.
Some are curious if this meme coin will ever truly see a full Shiba and Dogecoin-like impact, although it’s already off to an impressive start.