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Yet some crypto watchers have raised red flags over SafeMoon’s unusual structure. It charges a 10 per cent fee to buy tokens and another 10 per cent to sell — almost unheard of in the digital currency world. Half of these fees are paid to owners as an incentive to keep holding and the other half goes into a liquidity pool controlled by the developers. SafeMoon calls itself a DeFi token, or one that uses decentralized finance to govern functions through software, but it has a chief executive officer and chief operating officer. Critics also worry about the discretionary nature of the “manual” coin burns used to adjust its circulation. After 19,000% early gain, crypto SafeMoon’s rules to tamp down selling raise red flags Back to video
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Ethereum’s previous all time high of $4,379.11 was reached in May’s cryptocurrency boom, but the cryptocurrency is now trading at roughly $4,832 (£3,562.31) as of 2.43pm on Tuesday afternoon.
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.
Ken Griffin thinks bitcoin will be replaced by ethereum and says the Reddit-fueled conspiracy theories about his involvement in the GameStop saga are like a bad SNL joke
With its bullish structure now invalidated, those looking for long positions will need to eye support levels at $2.44 and $2.2. Should the crypto market remain bearish (with BTC having a probability of revisiting $60-62K), these levels are likely to come into play.
[SPONSORED] Pixlr announces Pixlr Genesis, a NFT-based movement to build the world’s largest decentralized art museum on the metaverse
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The SafeMoon price climbed 46,533% from the launch to peak at $0.00001399 on April 20th before falling back down to its original value of $00000361 by May 2nd, when it rebounded once again.
Insurance and risk management for digital assets will increase investor confidence, said OneDegree.
There's already a meme coin named after Elon Musk's new Twitter handle - and it jumped 825% in its 1st day of trading
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Over the last few weeks, rumors have been gaining traction on the internet that GameStop is partnering up with Loopring to launch an NFT marketplace.
According to Karony, other future plans include a yet-to-be-unveiled initiative that’s “fuel to the freedom of the un-banked.” And while SafeMoon was created on the Binance Smart Chain blockchain, the company said that it’s in the process of launching its own exchange platform this summer to establish a liquidity pool.