Bitcoin’s surge continued overnight on Monday as the cryptocurrency soared to $68,568.85 in value in the early hours of Tuesday morning, according to Coinbase.
The new team, called Twitter Crypto, is aimed at being the center of excellence for "all things blockchain and web3," Financial Times reported.
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Cryptocurrencies either have a limited or predetermined coin supply—although, with over 2,500 cryptos listed on hundreds of online exchanges, a number which is sure to increase over the coming years, it’s hard to generalise.
Through crypto ETFs, investors can speculate on the future cost of cryptocurrencies without having to actually hold it themselves.
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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“Every single day, the concept that it could be worth something, it could be a store of value is being continually approved by more large, powerful entities,” Johnson says, pointing to established financial institutions holding digital currencies and large corporations adding them to their corporate balance sheets. “The idea that it’s actually worth something is continuing to grow as adoption and acceptance continues to grow as well.”
According to CNBC International’s forecast, SafeMoon crypto fans say it’s trading down to the unprecedented wave of stimulus from governments and central banks around the world to tackle the coronavirus crisis would only make investing in SafeMoon trade rise. Such measures, they say, devalue fiat currencies, making SafeMoon a profitable investment in the cryptocurrency market.
It seems all too fitting that Facebook’s plans to launch a digital coin were leaked in the second-to-last week of a year that saw the tech giant’s reputation pummeled and cryptocurrencies crash and burn. It’s like grilling a shit sandwich over a dumpster fire.
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But what is SafeMoon and why has it garnered such an interest? And is it something you should look out for?
Ripple (XRP) broke and closed above the overhead resistance at $1.24 on Nov. 8, signaling that bulls are attempting a comeback. The bears tried to pull the price back below $1.24 but failed to sustain the lower levels.
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The market for cryptocurrencies has roughly quadrupled from its 2020 year-end value [File: Paul Yeung/Bloomberg]
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