In the U.S., Binance has been the subject of an investigation by the Commodity Futures Trading Commission, which is probing whether the platform allowed users to trade derivatives, Bloomberg reported in March, citing sources familiar with the matter. The CFTC investigation is directed at Binance, even though Americans must use Binance.US instead. And in May, the Department of Justice and Internal Revenue Service commenced money laundering investigations related to the company.
SAFEMOON launched earlier this year - and it's already attracting attention from cryptocurrency investors.
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How does this latest crash compare to previous ones, or even to regular stock market drops — and what does it mean for investors?
Bill Noble, chief technical analyst at TokenMetrics, a cryptocurrency analytics platform, thinks the price of Bitcoin will climb throughout the rest of the year. “I think it’s more likely Bitcoin goes to $75,000 than $25,000,” he says.
Dogecoin, at the time of writing, has a market price of close to $0.216 according to CoinMarketCap - the result of an 8,325.23% increase in value since the start of 2021.
The US Department of Justice says he "jeopardised the national security of the United States".
The token was trading at $1,157.00 Monday morning - 5.3% lower compared to actual Tesla stock, which closed at $1,222.09 on Friday.
But even this kind of pullback could not kill the inherent uptrend and in one of our previous reports, we mentioned that a breakout above $62,500 was required for BTC to resume strength.
The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin. (Pic: Shutterstock)
Competing interests: The authors have declared that no competing interests exist.
Loans offered via decentralised finance networks have been compared to fixed income securities
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Technically, it broke out of its descending triangle consolidation zone in the first week of November, followed by two important resistances at $62,500 and also at $63,500. This makes it bullish for the short term as well & these resistances will now act as support, above which one may enter long positions in BTC.
But before you look further make sure you’re aware of the risks when it comes to cryptocurrencies in general.
Overall, Coinmarketcap estimates the global crypto market has shrunk around 10% in the past 24 hours.
New Delhi: Major cryptocurrencies witnessed a fall on Thursday amid global inflation concerns, which made other currencies and gold attractive. Barring Solana, all other nine out of the top 10 cryptocurrencies were trading lower at 9.30 hours IST. Cardano, Dogecoin and Polkadot shed up to 5 per cent each.
Traders have flocked to the new currency and it has seen a 910 per cent increase in price since April 16 to April 20.