The growth of SafeMoon, coupled with its online slogan, has drawn comparisons to the surge in popularity of another cryptocurrency Dogecoin. (Pic: Shutterstock)
As of 8am ET on Thursday morning, it was slightly up in early trading. Bitcoin, however, was down under $65,000 at 8am ET, according to CoinBase.
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That was something similar that happened with Squid Game - but that does not necessarily mean DogeZilla is scam.
The team announced a few days back that Safemoon whales had joined the coin. Since then, there has been an influx of new crypto members joining Bitrise coin. All these factors have significantly driven the market cap up by +$200 at the time of writing. But what are the underlying factors driving the huge number of investors joining Bitrise crypto coins every day?
Like traditional currencies, cryptocurrencies express value in units — for instance, you can say “I have 2.5 Bitcoin,” just as you’d say, “I have $2.50.”
Once this initial interval expires, Binance.US will introduce a uniform fee schedule, with flat-fee amounting to 0.10% per trade for personal accounts. In other words, the purchase of 100 USD worth of BTC, for example, will take USD 0.10 out of your pocket. The fee schedule for corporate accounts will be adjusted based on the associated trading volume.
We further explore the significance of cryptocurrency fundamentals at the aggregate market level using traditional asset pricing tests. For this analysis, we construct risk factors that are based on aggregate values of computing power and network. We denote the aggregate computing power factor with ACP and aggregate network factor with ANET. The innovation in constructing these factors is that we express them in cryptocurrency return units following the factor mimicking portfolio approach (Knez et al. 1994, Lamont 2001, Vassalou 2003).
CRYPTO UPDATE All of the largest cryptocurrencies were up during morning trading on Thursday, with Polkadot (DOTUSD) seeing the biggest move, climbing 5.83% to $48.18. Dogecoin (DOGEUSD) rose 5.73% to 26 cents, while Ethereum (ETHUSD) increased 3.
Overall, Coinmarketcap estimates the global crypto market has shrunk around 10% in the past 24 hours.
You might recall that back in the very early days of Covid-19 (or just “coronavirus” as it was then known), some crypto nutters enthusiasts started getting excited about the idea that the virus would be good for bitcoin because “paper money” “might be the source of #CORONAVIRUS #SARS2 infection”. After all, “fiat is dirty”:
Cryptocurrency mining is the process by which recent cryptocurrency transactions are checked and new blocks are added to the blockchain.
Its founders have been holding ‘Ask Me Anything’ sessions to reassure potential investors of its legitimacy due to the unregulated nature of cryptocurrencies.
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Unlike traditional currencies, cryptocurrencies exist only as a shared digital record of ownership, stored on a blockchain. When a user wants to send cryptocurrency units to another user, they send it to that user’s digital wallet. The transaction isn’t considered final until it has been verified and added to the blockchain through a process called mining. This is also how new cryptocurrency tokens are usually created.
Bitcoin set another new all-time high Wednesday afternoon over $68,000. And then it promptly dropped down to below $65,000, where it remains Thursday morning.
Palantir's (NYSE: PLTR) stock price tumbled 9% on Tuesday after the data-mining firm posted its third-quarter earnings. The pullback was a bit surprising since its growth rates looked healthy and it offered rosy guidance for the full year.
You can't ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls