The SafeMoon crypto wallet has been drumming up excitement among users because the team has been adding support for more coins. SafeMoon’s Karony revealed that the wallet would see additional listings this week and asked his followers which coins they would like to see.
Plenty of altcoins have also taken a beating. Dogecoin erased the breakneck gains of the week and then some, nearly halving its price after a meteoric climb last weekend. XRP is down 35% week-over-week, Stellar is down 30% and Polkadot is down 25% since last week.
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When it comes to centralized exchanges, however, Binance is likely the first name that comes to mind. While it's an excellent exchange with ample amounts of liquidity, it is no longer available to U.S. citizens. Therefore, this blog will help to summarize the differences between Binance and Binance.US, so that crypto traders can better understand what to expect when trading on each exchange.
Cochrane, J. H. (2005), “Financial markets and the real economy”, Foundations and Trends in Finance 1 (1), 1–101.
The cryptocurrency crane had continued trending higher this month after experiencing some volatility earlier on when they were trading at $0.0000065 but now hover around $0.0000045, which still makes it more profitable.
That 90-day period ends September 12, so that’s effectively the deadline for Binance to launch its new U.S. exchange if it is to avoid impacting its American user base.
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Its founders have been holding ‘Ask Me Anything’ sessions to reassure potential investors of its legitimacy due to the unregulated nature of cryptocurrencies.
Cryptocurrency developers build these protocols on advanced mathematics and computer engineering principles that render them virtually impossible to break, and thus to duplicate or counterfeit the protected currencies.
Anyway, SafeMoon has been under the eyes of skepticism. Professionals say that it is an unpredictable business to put money into SafeMoon as it isn’t directed by using any particular means. It has been compared with a Ponzi Scheme as most liquidity is claimed by the group. SafeMoon has excused these cynics and has declared its precise path for the coming years. The group intends to coordinate SafeMoon with African Markets, investigate different trades like Binance, and even begin its own trade.
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Several factors explain why Binance.US launched a separate platform. Changes in regulations and Binance’s own rules reaction to external changes stand out as a large driver.
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One key point to note about Safemoon crypto is that the developers haven’t really described any real-world use cases yet. The Safemoon protocol was hyped hugely by celebrities back in May, causing retail investors to jump on the bandwagon and push price higher. Following this, the price fell dramatically, leading many to claim that Safemoon was a ‘pump and dump’ scheme designed to make certain investors rich.