Unlike other cryptocurrencies, SafeMoon claims it will reward people who buy its token and hold on to it rather than trade - for which there are penalties in place.
This happens when the promoter of a digital token draws in buyers, stops trading activity and makes off with the money raised from sales.
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Dow, the man who first shorted bitcoin, for instance, even mentioned in his initial post that a person can be “simultaneously bullish on blockchain and bearish on bitcoin.” And he just announced that he’s ending his short.
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Tokens in the liquidity pools are being reduced regularly using the buyback process. However, the buying and burning of tokens are automated. Bitrise cryptocurrency has become the first-ever to include automatic buyback with a real use case of payment systems. All other competing tokens, including Safemoon and Shiba Inu, are buying and burning tokens manually.
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Cryptocurrency — also known as crypto — is a digital currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions, as well as to control the creation of new units of a particular digital currency.
Cryptocurrency(c) 2021 BloombergNick Baker, BloombergUpdated: October 22, 2021 9:31 am IST
Perhaps a bit odd, then, to decide to chart crypto prices against US Covid cases rather than global cases, given crypto is traded globally.
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Safemoon is a token on the Binance Smart Chain rather than a coin on its own blockchain. This fact makes purchasing Safemoon very easy. You can swap other tokens for Safemoon on a decentralized exchange (DEX) like PancakeSwap on the BSC.
Meanwhile, apart from regulatory attention, Binance is likely to get sued over a platform outage during a price crash on May 19. A Swiss crypto fund is financing litigation and a UK academic has made various allegations based on her research.
Early adopters enjoy another five-figure payday as the Ethereum Name Service protocol airdrops its new governance token to domain holders.
Despite the concerning news and slight pullback in traditional markets, BTC and ETH prices rose, a dynamic that analysts such as Anthony Pompliano refer to as “asymmetric price action” where investors see a red hot stock market and unsustainable central bank monetary policymaking risk-on assets like Bitcoin as attractive investments and hedges against gold, the dollar and inflation.
Investors need not worry about these stocks, yielding from just over 3% to nearly 9%, being yield traps.
In late July, Elon Musk said Tesla was "most likely" to start accepting bitcoin as payment again. The comment helped the cryptocurrency race past the $30,000 level.