Safemoon is a member of the group of tokens known as memecoins. Memecoins are crypto tokens or coins based on internet memes. Specifically, Safemoon derives its name from a popular slang term in crypto discussion forums—’going to the moon’. This expression refers to the price of a crypto asset rising very high over a very short period.
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Insurance and risk management for digital assets will increase investor confidence, said OneDegree.
US cryptocurrency exchange Coinbase Global Inc on Tuesday reported a nearly 30% fall in third-quarter trading volumes on a sequential basis, hit by lower volatility and declining prices of Bitcoin and other cryptocurrencies.
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SafeMoon app has crossed 600,000 downloads. The team has announced that Bitcoin and Dogecoin will soon be added to the wallet. The partnership with Unicrypt, the multi-chain decentralized protocol, has kept V2 consolidation on track.
“Where digital assets land, at the end of the day … will be driven in part by regulation, both domestic and international,” Former SEC Chairman Jay Clayton recently told CNBC.
Yang’s set it and forget it approach to crypto reflects his philosophy for investing in the traditional stock market, but some experts feel cryptocurrency is too different from traditional investments to draw any historical comparisons. That’s why A’Shira Nelson of Savvy Girl Money is staying well away.
The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin. (Pic: Shutterstock)
Binance currently lists 150 coins and tokens. Binance.US has said it is considering 30 assets to list initially. In a blog post last week, Coley acknowledged that "the ease of issuing blockchain tokens and the perceived lack of regulation could make these tokens targets for abuse," and that the company recognizes it has legal and moral obligations to protect its users.
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Expanding further, once trading is live, straightforward, Binance.US will open withdrawals for all the already deposited and yet to be deposited AXS. So far so good, at the moment, all you have to do is to enroll and deposit AXS tokens while waiting for the rollout.
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In the meantime, cryptocurrency users (and nonusers intrigued by cryptocurrency’s promise) need to remain ever-mindful of the concept’s practical limitations.
It was a wild ride for SafeMoon, with its prices exploding in the first few weeks before crashing down.