You can't ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls
Binance.US launched in September 2019 in order to serve customers from the U.S.A. Although the exchange got off to a fairly slow start, Binance.US has grown into one of the largest cryptocurrency exchanges in the United States. In fact, April was a milestone month as Binance.US announced that its total trading volume surpassed $28 billion.
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But classifying crypto as an investment is complicated, too. It doesn’t quite fit the mold of a traditional stock or bond, and while cryptocurrencies do share characteristics of commodities like gold — they can be bought and sold for cash and as derivatives based on expected future value — they have no inherent physical value or use.
Despite its success, SafeMoon still remains to be an undervalued crypto among the investors’ community. The coin is still in its initial days as it was launched in March, 2021. Early investors would be rewarded in the long run when the token finds it way into top trading platforms.
Jack Purdy, a senior research analyst at crypto analysis firm Messari Inc., said that while he didn’t know how risky SafeMoon might be, its website makes it clear that it’s designed to get investors to buy and hold to “earn passive rewards through static reflection as they watch their balance of SafeMoon grow indefinitely.”
Loopring263 (-11.33%) The Graph89.07 (-9.49%) Internet Computer3,882 (-9.45%) Theta Network594 (-8.96%)
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Of course, crypto is notoriously volatile. The last time Bitcoin reached these levels, it fell back several thousand dollars, and it’s undergone multiple corrections that take it down by half or more. Other coins are even more volatile – the memecoins bounce back and forth wildly at times – and scams and hacks occur with some frequency.
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Squid's developers have made off with an estimated $3.38m (£2.48m), according to technology website Gizmodo.
While the biggest cryptocurrency trades strong, its market dominance has been dipping as investors shift to altcoins, said CoinDCX Research Team.
Bitcoin (BTC) plummeted 2.18% to $66k at the time of writing. Bitcoin’s dominance is currently 43.35%, a decrease of 0.34% over the day.
Wallets used by cryptocurrency exchanges are somewhat vulnerable to hacking. For instance, Japan-based Bitcoin exchange Mt. Gox shut down and declared bankruptcy a few years back after hackers systematically relieved it of more than $450 million in Bitcoin exchanged over its servers.
— Michelle Anderson is now head of marketing and development at ROKK Solutions. She’d been a senior adviser for the public affairs firm since April 2020.
Cochrane, J. H. (2011), “Discount rates”, The Journal of Finance 66 (4), 1047–1108.
Cryptocurrency — also known as crypto — is a digital currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions, as well as to control the creation of new units of a particular digital currency.