The little more than a decade old market for digital assets has already roughly quadrupled from its 2020 year-end value, as investors have gotten more comfortable with established tokens such as Bitcoin and networks like Ethereum and Solana continue to upgrade and attract new functionality. Excitement about the possibilities of decentralized finance and non-fungible tokens is growing, and memecoins like Dogecoin and Shiba Inu continue to attract attention.
But what is SafeMoon and why has it garnered such an interest? And is it something you should look out for?
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Brooks, who was acting US Comptroller of the Currency from May 2020 to January 2021, joined Binance US as chief executive officer at the beginning of May. Prior to joining the regulator, Brooks had been Chief Legal Officer of Coinbase Global. During his time as acting Comptroller, Brooks led efforts to provide regulatory clarity for stablecoins and digital asset custody.
That was something similar that happened with Squid Game - but that does not necessarily mean DogeZilla is scam.
Coinbase falls 11% after the crypto exchange misses Wall Street's 3rd-quarter earnings expectations
According to DogeZilla’s white paper, it has a vault that verifies crypto launches.
But what is SafeMoon and why has it garnered such an interest? And is it something you should look out for?
Fig 8(A) shows many significant positive correlations between Bitcoin and Litecoin. This is an expected relationship given Litecoin is technically very similar to Bitcoin (Litecoin is essentially Bitcoin with faster block confirmations). Overall, there is no clear leader in the relationship. However during the interval of the late 2013 price bubble (where Bitcoin and Litecoin reached around $1000 and $40 respectively) it can be seen that Bitcoin is leading Litecoin (slightly downward facing arrows across all periods).
SafeMoon listed three reasons why the V2 upgrade is expected to boost the demand for the token in a recent tweet:
There are so many areas that Safemoon falls short. In products, there is so much competition that Safemoon receives from Bitrise cryptocurrencies. For example, the Safemoon wallet is considered inferior to the Bitrise dApp wallet.
Our data aggregators include CoinMarketCap, Coinpaprika, TradingView, CryptoCompare and IntoTheBlock.
Since trading fees do not directly relate to the products traded, U.S. regulations do not apply to the fees Binance.US charges. As a result, Binance.US offers the same low fees and discounts as its parent company. Binance.US is one of the market leaders in the United States in terms of low fees, even without considering the discounts.
Before this latest surge for the top two cryptos, recent sudden drops followed a ban on cryptocurrency transactions and mining from China’s central bank, which declared all cryptocurrencies illegal in the country. After previously topping $52,000 in early September, Bitcoin’s price had dropped and struggled to get back over $50,000 until this month.
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It hasn't yet been recognised by the major cryptocurrency sites such as Coinbase but why did it get so popular?
So what happened? And is there any hope for a recovery? To answer both, you have to look at quite a few factors.
Amid rising inflation, the Federal Reserve and the Biden administration continue to message that the situation is “under control,” but equities markets reacted negatively to the news.