For more on trending cryptocurrencies, check out the latest on Save Planet Earth, IOST, Bonfire, Arweave, and TrueFi.
SafeMoon captured attention from the get-go. Its name evokes a prudent form of the “to the moon” mantra embraced by crypto crowds looking for prices to burst straight up.
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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.
ETF approval has been in consideration by the SEC multiple times over the past few years, but BITO is the first to gain approval.
The nation’s president Nayib Bukele passed a bill in June that stated that from September 7, Bitcoin can be used in any transaction and all businesses must accept the e-currency as payment.
First launched in March of 2021, Safemoon began to surge in price about a month later, thanks to effective marketing by the founding team.
Tokens in the liquidity pools are being reduced regularly using the buyback process. However, the buying and burning of tokens are automated. Bitrise cryptocurrency has become the first-ever to include automatic buyback with a real use case of payment systems. All other competing tokens, including Safemoon and Shiba Inu, are buying and burning tokens manually.
In recent days, the company has stopped those in Singapore from making trades on their platform, reacting to a tightening in regulations locally. While Binance remains the most preferable of the two platforms currently, it is important to remember that changes such as these have an effect on which may come out on top.
He added: "You’re simply reliant on someone further down the line being willing to pay more than you did to turn a profit, which is a risky bet indeed."
Bitcoin plunged to as low as $8,200 on Binances U.S. exchange from around $65,000.
Coinbase made headlines recently as the first crypto exchange to go public on the Nasdaq, and established firms like Fidelity are adding crypto to their investment offerings. The adoption of online payments using crypto is growing too, thanks to brands ranging from legacy publisher (and NextAdvisor partner) TIME to digital payment facilitator PayPal and international auction house Sotheby’s.
This lack of regulation means its transaction costs are less - making it an attractive tool or investment for people to move digital money around the world.
While paying for things in cryptocurrencies doesn’t make sense for most people right now, more retailers accepting payments might change that landscape in the future. It’ll likely be much longer before it’ll be a smart financial decision to spend Bitcoin on goods or services, but further institutional adoption could bring about more use-cases for everyday users, and in turn, have an impact on crypto prices. Nothing is guaranteed, but if you buy cryptocurrency as a long-term store of value, the more “real world” uses it has, the more likely demand and value will increase.
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Due to this, the process to invest in Safemoon involves transferring funds from a TrustWallet to Pancake Swap and then exchanging them into Safemoon. This process can be hard to follow for beginner investors, so it’s likely better to wait until Safemoon is added to a reliable and licensed broker.
Further, EverGrow will launch its Play-to-Earn games. Each sort of "Hero" will have its own unique set of powers and limitations in these games. While gamers will be enjoying their gaming experience, EverGrow will give daily login and NFT incentives. These NFTs can be traded with other players or utilized in built-in NFT markets. As a result, players will profit from the economic growth of the in-game assets.