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Yet some crypto watchers have raised red flags over SafeMoon’s unusual structure. It charges a 10% fee to buy tokens and another 10% to sell -- almost unheard of in the digital currency world. Half of these fees are paid to owners as an incentive to keep holding and the other half goes into a liquidity pool controlled by the developers. SafeMoon calls itself a DeFi token, or one that uses decentralized finance to govern functions through software, but it has a chief executive officer and chief operating officer. Critics also worry about the discretionary nature of the “manual” coin burns used to adjust its circulation.
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The price of the bitcoin rose to an intraday high of $69,000 Wednesday, reflecting a 4.6% gain following the release of CPI data.
Additionally, because there is no physical product or centralized organizing body, it is hard to point to anything and say “see, that good thing happened, crypto values will increase now”. So how does cryptocurrency gain value?
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This is just one example, but it definitely highlights the difference between trading on Binance and Binance.US. Although small traders won't make much of an impact on either exchange, all else being equal, most traders would prefer to trade against the larger book, rather than the smaller one.
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The Safemoon price today is hovering around the $0.0000014 level, so you can immediately see how cheap this coin is relative to others. Price is slowly turning bearish, with the last real spike occurring in late August. As such, it’s hard to make any accurate predictions about the token’s future price in this Safemoon forecast that are rooted in technical analysis.
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It was originally known as the Matic Network when it first launched back in 2017.
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The worldwide crypto market capitalization is currently $2.90 trillion, decreasing 1.25% over the last day. (Shutterstock)
Blockchain. A permanent online ledger that functions as a public accounting of cybercurrency transactions that have been executed. New “blocks” are added to the blockchain after the confirmation of each set of transactions.
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