Overall, Coinmarketcap estimates the global crypto market has shrunk around 10% in the past 24 hours.
Mikhael Karkhalev, financial analyst at currency.com, said: “Growing concerns around inflation and global rate hikes are clearly on investors’ minds.
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The value of Safemoon is currently sitting at $0.000003803 - up almost 23% over the past 24 hours, according to CoinMarketCap.
Contrary to this assumption, if the price plummets below the 20-day EMA, traders may rush to the exit. That could pull the price down to the 50-day SMA ($39.87).
More broadly, the U.S. has been slow to issue regulatory guidance for cryptocurrency businesses. The industry has generally appreciated regulators' care and caution to avoid hampering innovation or overregulating something so misunderstood, but the lack of clarity has also become restrictive for many looking to operate, develop, and grow their products and services. But Zhao appears to be undaunted by that.
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The first thing to note is that Safemoon is not currently listed on any major cryptocurrency exchanges such as Binance or Coinbase. Due to this, the amount of liquidity is relatively low, meaning that technical analysis isn’t as accurate as digital coins with high liquidity. The low liquidity of Safemoon means that large buy orders tend to boost price significantly – which, in turn, leads more people to buy into the ‘hype’.
Investing in cryptocurrency-related offerings is challenging area for investors. The State Securities Board's compact glossary of cryptocurrency terms is intended to help investors equip themselves with a basic understanding of the terms and concepts underpinning the most common facets of cryptocurrencies.
Binance CEO Changpeng Zhao insisted that the long-term pay-off will be worth any compromise.
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Some mainstream companies also view blockchain technology itself with interest, evaluating various uses such as supply chain. The future of cryptocurrency and its associated technology appears bright, judging by the growth and adoption that has been seen since 2008 when Nakamoto published the framework for a little asset called Bitcoin.
Investors need not worry about these stocks, yielding from just over 3% to nearly 9%, being yield traps.
People considering investing in Bitcoin or shares and stocks have also been warned over "risky" tips being shared on TikTok.
The SafeMoon Protocol is a community driven, fair launched DeFi Token. Three simple functions occur during each trade: Reflection, LP Acquisition, & Burn.
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New Delhi: Prices of the world’s most popular cryptocurrency Bitcoin and Ether have surged to new highs in Asia trade, according to a Reuters report. The more and more acceptance of cryptocurrency and apprehensions about inflation have bolstered the Bitcoin and Ethereum prices in the trading market, the Reuters report said.Also Read - Bitcoin vs Britcoin: Bank of England Reveals Launch Timeline of UK's Own Cryptocurrency
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