There is a lot of volatility in the cryptocurrency space due to the industry’s newness. Investors are seeking to experiment with their money to generate riches quickly and figure out how cryptocurrency prices vary and whether they can affect them.
When that time of reckoning arrives, only the early investors would have enormous profits. If you want to be one among the lucky ones, now is the chance to get on board and hold on for the important day. Every coin has its day and SafeMoon is yet to bask in the limelight. Its day to shine in the sun would arrive soon and early investors would hold on to fistful of dollars.
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Bitcoin’s surge to $69,000 took bears by surprise and cemented bulls expected $400 million profit at Friday’s $1.2 billion options expiry.
Each asset holds a value, often priced in U.S. dollars, which leads to another use case: trading and investing. Aside from stablecoins — which seek to stabilize the instability of cryptocurrencies by pegging an asset to something else, such as the U.S. dollar — most cryptocurrencies constantly fluctuate in price. You can trade between cryptocurrencies and national currencies (called fiat currencies) on exchanges, depending on the trading pairs available on the platform of choice.
SafeMoon’s Facebook page states: “Remember, getting to the moon takes time and the longer you hold the more tokens you pick up.”
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Coinbase saw its trading volume suffer a steep drop, driven primarily by lower levels of volatility, despite the listing of dogecoin and shiba inu.
Bitcoin’s bullish price rise to near $70,000 in value comes as investors hope to see the $1 trillion market cap remain firmly in place ahead of a volatile trading period.
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The token distribution by Binance.US will happen only after the network is stable. There will be no delivery fee. The final result will be that once the binance.US customers have the Boba tokens that they are eligible for, they can transmit the same to wallets that are off the binance.US platform. This Airdrop move is just to allow the BOBA tokens to pass through Binace.US into eligible user wallets with ease.
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However, in the wake of the technical issues, the DeFi protocol has met its share of criticisms and FUD. Some Twitter users have even accused SafeMoon of scamming its users.
All the signs, however, were there. Like previous bubbles, people were basing their belief in the cryptocurrency on their emotions, not any intrinsic value. Then there was the FOMO element, which only compounded things. Essentially, bitcoin became an international fever. Random companies were “pivoting to blockchain” for no apparent reason other than that it seemed like a way to create buzz. But when the bubble bursts, FOMO turns into fear of losing, which makes for an especially rapid plunge.
For more on trending cryptocurrencies, check out the latest on Save Planet Earth, IOST, Bonfire, Arweave, and TrueFi.
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Bitcoin uses a Proof-of-Work mining system. This means a network of miners computes complex calculations to keep the Bitcoin blockchain running. Miners earn newly minted Bitcoins as a reward for their work. Proof-of-Work allows Bitcoin to attach a physical value to its transactional system. A Bitcoin is worth a certain amount of computing power.
Different types of cryptocurrencies can be classified into the following two groups: