Plenty of altcoins have also taken a beating. Dogecoin erased the breakneck gains of the week and then some, nearly halving its price after a meteoric climb last weekend. XRP is down 35% week-over-week, Stellar is down 30% and Polkadot is down 25% since last week.
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Customers’ digital assets held on other trading platforms are not automatically transferred to Binance.US. Transferring a cryptocurrency from other wallets requires the customers to use the deposit address on the Binance.US account as the target address. Upon selecting the desired crypto, the user can either copy the address or scan the appropriate QR deposit code. Wallets also support insights into deposit and withdrawal history.
The supply of a cryptocurrency depends on how many new coins are being mined and how many current owners want to sell their coins.
The Biden administration is taking steps to ensure Americans who pay for goods or services with cryptocurrencies don’t sidestep the tax man.
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The world's richest man now wants to be known as "Lorde Edge" based in a new location called "Trollheim."
A look at funding rates across exchanges hints at excessive optimism, with traders going long on BTC en masse — a classic indicator of a correction.
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Safemoon members are now joining in the thousands with competing cryptocurrencies, like Bitrise, and this could continue if the Safemoon team does not address the fundamental issues. However, Safemoon remains one of the most powerful crypto coins out there, but dominance may be short-lived.
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Gensler recently went so far as to say investors are “likely to get hurt” if stricter regulation is not introduced. Plus, the IRS has an obvious interest in making sure investors know how to report virtual currency when they file their taxes.
Other criticism of the founding team has come on the back of several promised developments of a Safemoon ‘ecosystem’ (including a bespoke wallet application) that have thus far fallen short of expectations.