With all of these shortcomings facing most of the competition, Safemoon is definitely in trouble. The Safemoon team has to do a lot to make the play competitive. Otherwise, not many people will be interested in this Safemoon. This means low demand, and this is how the value of Safemoon’s coin will plummet.
And cryptocurrency exchanges are somewhat vulnerable to hacking, representing the most common venue for digital currency theft by hackers and cybercriminals like those responsible for taking down Mt. Gox.
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FTM has outdone the market in terms of price actions ever since Fantom Foundation announced a 370 million FTM incentive program for developers in August. FTM is currently trading close to $2.6 - up more than 17x from a low of $0.15 in August.
Crypto coins use the process of mining and the resulting blockchain as a physical measure of the currency. This is similar to how Reserve Banks used to have gold reserves that backed their fiat currencies.
Very generously our tweeter credits another crypto fanatic for the remarkable analysis, who had drawn up his own chart just days earlier:
Six out of the top-10 cryptocurrencies were trading higher at 9.30 hours IST. Binance Coin and Solana witnessed profit booking whereas XRP gained 9 per cent.
Bitcoin (BTC) crashed to just $8,100 on Oct. 21 — but only if you were trading on Binance’s dedicated United States exchange, Binance.US.
Its competitors, Dogecoin and Shiba Inu faced several lows for months and years straight but are at a different position now. SafeMoon could walk the same path as its competitors and would find a ‘breakout’ all of a sudden.
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.
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Bitcoin–and the cryptocurrency industry as a whole–plunged this year, after a gravity-defying surge in recent years. The price of the digital coin hit nearly $20,000 late last year. And then in early 2018, it began to fall. Though it hit a few plateaus, the price has still tumbled; today it hovers at a little over $3,000.