“I haven’t encountered many who would try to put up more barriers for new users,” said Maria Shen, a partner at Electric Capital, a venture capital firm focused on cryptocurrencies. Still, she added, “the wallet space is fairly competitive, so it’s not unthinkable.”
These are just two of the cryptocurrencies that challenge Safemoon’s dominance, and some, like Bitrise, face very stiff competition against Safemoon on the basis of the products on offer, among many other features. From the powerful wallet to exchanges, among many other products, the coin is one of Safemoon’s toughest competitors.
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Among those who called it, hedge fund manager Mark Dow wrote almost exactly a year ago about his decision to short bitcoin after future trading on it first began:
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Cochrane, J. H. (2011), “Discount rates”, The Journal of Finance 66 (4), 1047–1108.
Fig 6. Wavelet coherence between Ethereum new authors and price decomposed for different period bands (with GSADF test bubble overlay).
Bartram, S. M. and M. Grinblatt (2018), “Agnostic fundamental analysis works”, Journal of Financial Economics 128 (1), 125–147.
Fig 4. Wavelet coherence scalograms between online factors and price (with GSADF test bubble overlay) for Ethereum and Monero.
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SafeMoon V2 involves the launch of an upgraded contract that has a change to the coin’s consolidation formula. Consolidation is a DeFi feature that the SafeMoon teams likens to reverse stock splits with the added idea that it will be beneficial for investors. It is a way for the team to “tidy up the numbers” without changing the actual ownership percentages among investors.
It remains to be seen if Decentraland turns into the next meme coin of choice for retail investors, but it has lately picked up some traction from Reddit users via threads.
Meanwhile, Cardano (ADA) prices are fluctuating around $2.37 (£1.75) in a 16% increase on the last 24 hours, XRP Ripple was up 2.39% at $1.27 (£0.937129) and Solana at $244.80 (£180.39) as of 2.50pm on Tuesday.
MIAMI (AP) — El Salvador is betting that this week's pioneering adoption of Bitcoin will spur its economy, especially one of its most crucial sources of revenue: money sent home by Salvadorans in the United States.
There will be a few restrictions on https://t.co/9rMMAmtCxH accompanying this. But some short term pains may be necessary for long term gains. And we always work hard to turn every short term pain into a long term gain. https://t.co/gl1M1cwPYB
The SafeMoon crypto wallet has been drumming up excitement among users because the team has been adding support for more coins. SafeMoon’s Karony revealed that the wallet would see additional listings this week and asked his followers which coins they would like to see.
Britain's financial watchdog has barred Binance from carrying out regulated activities in the country. Japan's regulator has said Binance was operating there illegally and Germany's watchdog has warned it risked fines for offering tokens connected to stocks.
That 90-day period ends September 12, so that’s effectively the deadline for Binance to launch its new U.S. exchange if it is to avoid impacting its American user base.