Bitcoin price has been consolidating for more than ten days and shows no signs of a directional bias. BTC collected liquidity and could be primed for a move lower. For now, the altcoins are showing strength as BTC coils up. If BTC crashes, altcoins are bound to take a hit.
Whereas private keys confirm the authenticity of a cryptocurrency transaction, wallets lessen the risk of theft for units that aren’t being used.
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Cryptocurrency has come a long way over the last decade, advancing at a lightspeed pace. Value can be stored, transferred and spent in different ways through various assets and solutions, while DeFi has pioneered the way for new borrowing and lending avenues.
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Safemoon protocol aims to create a self-regenerating automatic liquidity providing protocol that would pay out static rewards to holders and penalize sellers.
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The buyers will now attempt to push the price to the resistance line of the wedge. If bulls thrust the price above the wedge, the bullish momentum could pick up and the LUNA/USDT pair may reach $62.59.
As of 9:54 a.m. in New York, the overall market cap of cryptocurrencies hit $3.3 trillion, according to CoinGecko pricing. The third- and fourth-biggest tokens, Binance Coin and Solana, have added more than 20% in the past seven days; all of the seven biggest coins are up over the last week.
Dogecoin, which was initially set up as a joke in 2012 before seeing its shares skyrocket, has also dropped while Solana has seen its market price rise by more than 8%.
Competing interests: The authors have declared that no competing interests exist.
And while proponents tout cryptocurrencies as potentially lucrative alternative investments, few serious financial professionals view most coins — with the important exception of Bitcoin and a few others — as suitable for anything other than pure speculation.
Safemoon is a cryptocurrency token that was launched in March 2021. The token is housed on the Binance Smart Chain (BSC), a blockchain developed by Binance that runs parallel to the traditional Binance Chain (BC). The difference between the two is that Binance Smart Chain has smart contract functionality, opening up many avenues for decentralised applications (dApps) to be constructed.
Andrea Edwards has worked in marketing and communications all over the globe for 20 years, and is now focused on her passion – writing. A gifted communicator, strategist, writer and avid blogger, Andrea is Managing Director of SAJE, a digital communications agency, and The Writers Shop – a regional collaboration between the best business writers in Asia Pacific Main navigation Economics
Although bitcoin may be the most popular cryptocurrency, many crypto traders want to build a diversified portfolio comprised of projects across many facets of the crypto space. In fact, diversification is so important that our team has been building an index trader, which will allow our customers to easily trade a basket of cryptos that align with their specific goals. This will be released shortly.
Savvy cryptocurrency users are therefore maniacally protective of their private keys, typically storing them in multiple digital locations — although generally not Internet-connected, for security purposes — and on paper or in other physical form.
Additionally, because there is no physical product or centralized organizing body, it is hard to point to anything and say “see, that good thing happened, crypto values will increase now”. So how does cryptocurrency gain value?