SafeMoon captured attention from the get-go. Its name evokes a prudent form of the “to the moon” mantra embraced by crypto crowds looking for prices to burst straight up.
@thebearablebull it’s time to switch to a digital currency. Fiat is dirty and is cause for the spread of the corona virus. Could this be the catalyst that advances utility of XRP???
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Yes, there's a second meme cryptocurrency inspired by the meme dog. And a Wednesday flippening shows it's no joke.
But while it’s based on sound, democratic principles, cryptocurrency remains a technological and practical work in progress. For the foreseeable future, nation-states’ near-monopoly on currency production and monetary policy appears secure.
Since 2017 Binance has grown quickly to reach its current position. However, the rise of this crypto giant was not smooth. In the quickly changing environment of cryptocurrency, government regulations are often several years behind the cutting edge. This was the case for Binance, which came into repeated conflict with government regulations of multiple countries in the years after it was founded, including, eventually, the United States. Originally founded in China, Binance has since moved its headquarters several times.
Dogecoin, founded in 2012 as a joke, has drawn widespread attention from high-profile personalities such as billionaire entrepreneur Elon Musk and rapper Snoop Dogg.
Another property of Safemoon which has attracted wide criticism is the ownership pattern of the current supply of the token. A large proportion of Safemoon’s total liquidity is owned by members of the founding team. Although these funds are in a so-called lock-up, such concentration of ownership is often a cause for serious concern in the crypto space. In part, this concern is because of the influence that major holders—called whales—have over price movements when they sell.
Ryan Arriaga, Global head of products at SafeMoon, announced the addition of three new pairs in swap. NEW Reflections Tracker Update on the verge of release! Thanks for staying patient!#SAFEMOONARMY#SAFEMOONWALLET #SAFEMOON
On the downside, the zone between $67,000 and $63,750 is likely to act as a strong support. If this zone is breached, it will indicate that traders may be aggressively booking profits. The pair may then drop to the 50-day simple moving average (SMA) ($56,348).
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On the other hand, Binance.US only has U.S. customers. The size of its liquidity pool is limited to the number of U.S.-based traders. However, operating in one of the largest crypto markets in the world, Binance.US still has a large enough liquidity pool to satisfy the needs of any small-scale trader. In April 2021, the trading volume on Binance.US was more than $28 billion. Binance.US has a much smaller liquidity pool than Binance, but it is enough for all but the very largest traders.
Also, several businesses now receive bitcoin as payment for goods and services – another reason why it is a wise investment. For instance, Visa transacts with BTC, and in February, Tesla announced that the company has invested $1.5 billion in BTC and will also be accepting it as means of payment for its cars. Additionally, the large banks are already incorporating BTC transactions in their offers too.
Outside of Binance there has been a shift to using Coinbase or Gemini, but out of the two reviewed above, there is one clear leader.
Brits are being warned they risk losing all of their money if they invest in bitcoin and other cryptocurrencies.
Meanwhile, there has been plenty of speculation that bitcoin’s big rise may have been due to a pump-and-dump scheme. One theory that the U.S. Justice Department is reportedly looking into is that the digital coin Tether (which is supposedly pegged to the U.S. dollar to make for a less volatile cryptocurrency) was used to manipulate the bitcoin market and cause a large run-up in price. This theory stems from an academic paper, which cast Tether in a very damning light. And it also led many to believe that the initial bitcoin craze was manufactured and destined to bust.
"My advice to mainstream investors is to wait for the Certik audit (Q4 of 2021) and improvements in the liquidity pool before proceeding."
This breakout happened in the recent weekend and consequently the uptrend resumed and Bitcoin is now on way to challenge its previous life high yet again.