Based on a mathematical and scientific blockchain algorithm, it is highly unlikely that SafeMoon gets hacked. As owners of SafeMoon, you are anyway masters of your wallet, and hence safekeeping thereof falls in your periphery of accountability.
Many lesser-used cryptocurrencies can only be exchanged through private, peer-to-peer transfers, meaning they’re not very liquid and are hard to value relative to other currencies — both crypto- and fiat.
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The Bank of England's Sir Jon Cunliffe raises concerns about the financial stability risk of cryptocurrencies.
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Investing is always a risk but investing in cryptocurrency is an even higher risk as they are VERY volatile.
According to Karony, other future plans include a yet-to-be-unveiled initiative that’s “fuel to the freedom of the un-banked.” And while SafeMoon was created on the Binance Smart Chain blockchain, the company said that it’s in the process of launching its own exchange platform this summer to establish a liquidity pool.
The debacle was tinged with irony, coming just as Binance CEO Changpeng Zhao, also known as CZ, warned about incoming volatility.
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Binance represents the collection of a huge number of customers all over the world. Naturally, this means that the Binance international exchange has a very large liquidity pool. As the world leader in centralized exchanges, Binance also has a world-leading liquidity pool. In May of 2021, the crypto exchange recorded a spot trading volume of $1.5 trillion.
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Bitcoin was trading 3.7% higher Friday morning. The price was around $61,200 per coin.