Karony likens SafeMoon’s holder payments to the beginnings of businesses like Amazon.com Inc., where “earlier investors receive higher returns and growth because the initial risk they took was higher than those who joined later.”
In June, the Chinese Government cracked down on considerable crypto mining operations taking place in the Sichuan province and demanded that Chinese banks and payment channels stop supporting decentralised and anonymous crypto transactions.
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SafeMoon’s upcoming upgrade, V2, is expected to enhance the token’s security, quality and accessibility. The SafeMoon community widely anticipates the launch of the V2 upgrade, and investors expect SafeMoon to recover from the recent drop in price.
Coinye, a semi-defunct cryptocurrency, is worth mentioning solely for its bizarre backstory.
At time of press, this was SafeMoon’s latest update; there was no confirmation that the issues were persisting or had been taken care of.
The cryptocurrency investment giant has also seen “massive” options volume as gold takes a fresh beating and institutions seek Bitcoin exposure.
The token is listed on over 12 crypto exchanges and posted a 3% drop in price over the past 24 hours.
However, cryptocurrency experts had warned of several tell-tale signs that it was likely to be a scam.
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