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.
Gas shortages at the pumps have spread from the South, all but emptying stations in Washington, D.C., following a ransomware cyberattack that forced a shutdown of the nation’s largest gasoline pipeline.
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Meanwhile, concerns were also mounting on Oct. 21 that leveraged traders have taken on more risk than they can chew.
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Leverage is the means of gaining exposure to large amounts of cryptocurrency without having to pay the full value of your trade upfront. Instead, you put down a small deposit, known as margin. When you close a leveraged position, your profit or loss is based on the full size of the trade.
Its website carries the slogan ‘Safely to the Moon’ - a play on the phrase first mooted by WallStreetBets on Reddit in an attempt to hype up the price of Dogecoin.
The SafeMoon price today is $0.000004713 with a 24-hour trading volume of USD 73,084,979, and it has been down 20% over the last day. The market cap for this cryptocurrency stands at 2 billion US Dollars, ranking #204 on CoinMarketCap.
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While this is a critical security feature that reduces theft and unauthorized use, it’s also draconian. Losing your private key is the digital asset equivalent of throwing a wad of cash into a trash incinerator.
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SafeMoon is not yet listed on Coinbase or Binance. However, the currency does hope it will achieve this in the future.
Earlier today, Bitcoin (CRYPTO: BTC) flash crashed to $8,000 on Binance U.S., the American trading platform of the world's top crypto exchange Binance.
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By hitting the $200m from a previous $150m market cap, Bitrise has again proven the pessimists wrong. The market cap shows that the coin is quickly gaining the confidence of the investors. There are many developments that have taken place in the last few days that have significantly driven such fast growth.
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WASHINGTON (AP) — The Justice Department has recovered most of a multimillion-dollar ransom payment made to hackers after a cyberattack that caused the operator of the nation's largest fuel pipeline to halt its operations last month, officials said Monday.