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Although Binance.US is growing fast and is now considered to be one of the top exchanges in the United States, it doesn’t measure up to its parent company, Binance.
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Still, instead, it allows users access browser features where crypto charts will also appear within its built-in web browser. As more Bitrise utilities are released, more Shiba Inu, Dogecoin, and Safemoon members will join.
As recently as May 2021, Binance was under investigation by the U.S. government for tax fraud and money laundering, according to reporting by Bloomberg.
But what is SafeMoon and why has it garnered such an interest? And is it something you should look out for?
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The cryptocurrency market woke up to a shock in early trading on Thursday morning. On the Binance US cryptocurrency exchange, the value of Bitcoin (BTC) plummeted nearly 87 percent in value, settling around $8,200. The issue that caused the value spike was reportedly corrected swiftly and the Bitcoin value returned to its normal levels within a couple of minutes.
The SafeMoon price is not joining in the broader market rally today and is down about 4%. Over a longer term view, however, SafeMoon is doing just fine. Since October, the SafeMoon price has rallied over 160%. The recent declines could be investors taking some profits off the table in a broader market that is trading at all-time highs.
In a recent report from Kraken exchange, analysts said that the current quarter’s price action has a correlation of 0.88 with the fourth quarter of 2017.
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As the record of a cryptocurrency’s entire transaction history to date, a blockchain has a finite length — containing a finite number of transactions — that increases over time.
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SafeMoon recorded a 99% rise in one day in April after Bitcoin had its biggest single drop for months.
Dogecoin, founded in 2012 as a joke, has drawn widespread attention from high-profile personalities such as billionaire entrepreneur Elon Musk and rapper Snoop Dogg.
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As with most cryptocurrencies, there have been mixed reviews so far with one reddit user saying: “I completely agree that once they get listed on an exchange this could easily blow up.”
Binance.US has an option to automatically buy and sell crypto using U.S. dollars, using a simple interface that’s similar to what you’ll find on Coinbase and other competitors. Each of these buy/sell transactions charge a 0.5% fee.