Earlier today, Bitcoin (CRYPTO: BTC) flash crashed to $8,000 on Binance U.S., the American trading platform of the world's top crypto exchange Binance.
At IG, our markets for bitcoin, bitcoin cash, ether and litecoin are quoted against the US dollar. This is how you’ll usually see these cryptocurrencies quoted elsewhere, too.
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In June, the Chinese Government cracked down on considerable crypto mining operations taking place in the Sichuan province and demanded that Chinese banks and payment channels stop supporting decentralised and anonymous crypto transactions.
Both are leveraged products, meaning you only need to put up a small deposit – known as margin – to gain full exposure to the underlying market. Your profit or loss are still calculated according to the full size of your position, so leverage will magnify both profits and losses.
If all the financial services and market avenues turn favorable, this digital asset is set to break all barriers and perform exuberantly, scaling the peak as aforesaid. Transgressing all limitations over the next year, it would surely show signs of fortune for investment in it. Backed by robust smart contracts, SafeMoon price may easily touch $0.0000085 by the end of 2021.
At IG, our markets for bitcoin, bitcoin cash, ether and litecoin are quoted against the US dollar. This is how you’ll usually see these cryptocurrencies quoted elsewhere, too.
For users of Binance.US, while liquidity is not a major issue, Binance does support more liquidity, enabling faster transactions and trades, something which is important for the world’s biggest cryptocurrency exchange. Still, the U.S. platform is still to catch up when it comes to providing users with the same amount of liquidity and ease when trading.
One of the most appealing factors is that Safemoon rewards people who hold the token by distributing funds that the platform receives from the people who sell the token. In addition, Safemoon has recently released its own wallet on Google Play. Many investors believe this is a sign that the company are in the growth phase, with more announcements in due course.
Finally, the 4JNET team does not hold any 4JNET tokens. The funds raised from the presale will go towards advertising on social media platforms like Facebook, Twitter, YouTube, and KOLs in the industry.
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Following the Chinese state’s move, countries like South Korea also pledged to tackle the rise in money laundering taking place via cryptocurrency, while the Metropolitan Police announced that it had successfully closed in on a huge UK cryptocurrency money-laundering operation.
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Mr Musk has served as a key for driving up the prices for other major meme coins this year, including Dogecoin and Shiba Inu.
Fig 1. Price series for each cryptocurrency considered (each cryptocurrency priced in USD).
The term “miners” relates to the fact that miners’ work literally creates wealth in the form of brand-new cryptocurrency units.