So far, the main thing that has driven Safemoon has been the hype generated by celebrity backing. Celebrities such as Jake Paul, Afrojack, and Keemstar have also promoted the coin this year, leading to significant price increases.
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In an inflationary environment, assets like Bitcoin appear more attractive to investors. The BTC price rallied to a new all-time high on Wednesday.
Going forward, it's impossible to know for sure how the value will change and whether it could rise further.
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.
“Every single day, the concept that it could be worth something, it could be a store of value is being continually approved by more large, powerful entities,” Johnson says, pointing to established financial institutions holding digital currencies and large corporations adding them to their corporate balance sheets. “The idea that it’s actually worth something is continuing to grow as adoption and acceptance continues to grow as well.”
The potential for a partnership with former President Trump gave the mobile marketing platform a meteoric boost. What's next?
Overall, we’d urge you to do your own research if you were to invest in Safemoon. Common investment advice states that the cryptocurrencies which perform the best over the longer term are those with real-world utility, which Safemoon doesn’t seem to have at present. Although the developers may improve the protocol and create some valuable use cases, there is still the chance that this coin could be a ‘memecoin’.
At Cointelegraph, we are chronicling the ongoing story of cryptocurrency and the rise of a borderless, permissionless financial system. How will industry stakeholders work to make crypto a mainstay in people’s lives? How will crypto investments change the paradigm of the current financial system? And will incumbent and legacy systems accept or fight this change?
However, after three months in the role, Brooks resigned amid an alleged battle over independence from Binance CEO Changpeng Zhao. Brooks himself did not give his reason for leaving.
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New York City Mayor-elect Eric Adams pledged Thursday that he would accept his first three paychecks in bitcoin when he formally takes office next year.
The token distribution by Binance.US will happen only after the network is stable. There will be no delivery fee. The final result will be that once the binance.US customers have the Boba tokens that they are eligible for, they can transmit the same to wallets that are off the binance.US platform. This Airdrop move is just to allow the BOBA tokens to pass through Binace.US into eligible user wallets with ease.
Bitcoin made a new life high at $66,998 on 20th Oct and since then it entered into a retracement phase and subsequently prices dipped below $59,000 in the following days.
Brooks said he was “very confident” that his tenure would last long at Bitfury and expects the Financial Times to “better gel” with Vavilov than his former employer. Said.
Here’s our guide to crypto, and why so many people are talking about it these days.
SafeMoon is targeting greater adoption and additional use cases with the launch of V2.