If all the financial services and market avenues turn favorable, this digital asset is set to break all barriers and perform exuberantly, scaling the peak as aforesaid. Transgressing all limitations over the next year, it would surely show signs of fortune for investment in it. Backed by robust smart contracts, SafeMoon price may easily touch $0.0000085 by the end of 2021.
The value of cryptocurrency is also driven by scarcity. This alludes to the cryptocurrency’s finite mechanism. The Bitcoin protocol sets the maximum amount of BTC that can be mined at 21 million. Therefore, as more people enter the crypto space, Bitcoin’s scarcity will inevitably increase, causing its price to increase. Some coins also use the burning mechanism to increase their value by destroying a portion of the supply.
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Speculators in the crypto community continue to describe Brooks move as a stepdown, however, in terms of company size and brand awareness in the crypto space considering his office as CEO of Binance US previously.
“The exchange business is currently profitable, but not necessarily innovation,” Brooks said, adding that Bitfury’s position as the only mining chip producer outside of China has taken the lead. ..
Once they have a key, they can obtain and spend cryptocurrency. Without the key, the holder can’t spend or convert their cryptocurrency — rendering their holdings worthless unless and until the key is recovered.
The surge in Bitcoin’s value in recent weeks follows the much anticipated first Bitcoin ETF debuting on the New York Stock Exchange, and a record-breaking October for the stock market in general.
Bitcoin price hits new record high - why is Bitcoin up today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu (Image credit: Getty Images/Canva Pro)
SafeMoon utilizes a strategy wherein they prevent day exchanging of their coins to fix the value instability issue. SafeMoon declared a remuneration policy for the long-term and earliest holders of the tokens. Individuals selling the tokens will be hit by a 10% punishment charge expense on the exchanges, and 5% of these punishment exchange charges will be dispersed to the current token holders.
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These platforms allow holders to exchange their cryptocurrency holdings for major fiat currencies like the U.S. dollar and euro, and for other cryptocurrencies, including less-popular currencies.
Meanwhile, Ethereum also hit a record — rising to $4,837.59, according to CoinMarketCap.
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Safemoon offers a unique way of investing in cryptocurrency, as people who hold Safemoon and then sell it are subject to a 10% fee. This fee is halved, with 5% of it being given back to other Safemoon holders – the developers call this ‘reflection’. The additional 5% is split again, with 2.5% being used within the liquidity pools on exchanges such Pancake Swap, with the other portion being converted into BNB.
There are so many areas Safemoon is falling short. In the products, there is so much competition Safemoon is getting from the likes of Bitrise crypto coin. For instance, Safemoon wallet is deemed inferior to Bitrise dApp wallet.
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Additionally, EverGrow's creators have cleverly split its TokenEconomics to make it more resilient to market fluctuations. EverGrow burnt almost 50% of its supply at launch, and burned tokens were obliterated from circulation before launch. The remaining 45 percent is reserved for PancakeSawp's pre-sale and Initial Liquidity Lock, with the remaining 5% reserved for its team members and airdrop. The Innovative TokenEconomics will ensure that EvegGrow has all the features to become the Next Big Cryptocurrency.