GARY GENSLER: This asset class is rife with fraud, scams and abuses in certain applications. There's a great deal of hype and spin about how crypto assets work.
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SafeMoon technically isn't a cryptocurrency but a DeFi token, according to its website.
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You can also buy Safemoon from a centralized exchange like BitLink that lists Safemoon for sale.
The cryptocurrency market is a vast and sometimes confusing place with different coins to choose from.
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However, in the wake of the technical issues, the DeFi protocol has met its share of criticisms and FUD. Some Twitter users have even accused SafeMoon of scamming its users.
“Bitcoin has outperformed gold, the most widely regarded inflation hedge, by a considerable margin year-to-date, having gained over 130% compared with gold’s 4% decline.”BTC/USDT daily chart: Source: TradingView
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SafeMoon app has crossed 600,000 downloads. The team has announced that Bitcoin and Dogecoin will soon be added to the wallet. The partnership with Unicrypt, the multi-chain decentralized protocol, has kept V2 consolidation on track.
This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Binance US names Ant exec Shroder president 10 September 2021 The US arm of Binance has appointed former Ant Group and Uber executive Brian Shroder president, replacing Brian Brooks who quit suddenly in August after just four months in the job.
He was referring to the stringent regulation that forced most cryptocurrency exchanges to deploy separate trading platforms for U.S. customers only. Consequently, American crypto traders tend to operate on less liquid cryptocurrency exchanges.
Data Availability: All data are available from figshare: https://figshare.com/articles/Wavelet_coherence_cryptocurrency_online_indicator_data_set/5765352.
Time will tell whether this is the case, but right now, the Safemoon price is trading pretty close to where it was in April 2021, right before the massive price increase. Since the all-time high of $0.00001094 back in May, the Safemoon price live dropped over 87%. Furthermore, the trading volume is extremely low, with CoinGecko reporting that just over $3.5 million worth of Safemoon was traded in the last 24 hours.
The market for cryptocurrencies has roughly quadrupled from its 2020 year-end value [File: Paul Yeung/Bloomberg]
Table 2. T-test p-values (for each period band of each cryptocurrency / metric pair).