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When the market adjusts, the price shoots up. Large holders of that crypto can then cash in on the gains by dumping their coins, bringing the price down. Although exchanges know about these methods, stopping them isn’t all that simple, as the perpetrators know how to stay under the radar.
SafeMoon is not yet listed on Coinbase or Binance. However, the currency does hope it will achieve this in the future.
Issuers of tokens that link crypto and traditional markets should function as banks, watchdogs urge
Based on a mathematical and scientific blockchain algorithm, it is highly unlikely that SafeMoon gets hacked. As owners of SafeMoon, you are anyway masters of your wallet, and hence safekeeping thereof falls in your periphery of accountability.
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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.
However, as the BBC reported, it was criticised for not allowing people to resell their tokens.
Users can buy SafeMoon by setting up a crypto wallet on the Binance Chain Network and add Binance (BNB) coins to your account.
Although few cryptocurrencies other than Bitcoin are widely accepted for merchant payments, increasingly active exchanges allow holders to exchange them for Bitcoin or fiat currencies — providing critical liquidity and flexibility. Since the late 2010s, big business and institutional investors have closely watched what they call the “crypto space” too.
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After that, five percent of the tax is then allocated to people who still own SafeMoon currency. This is to prevent the price from dropping as people start selling the token.