So what happened? And is there any hope for a recovery? To answer both, you have to look at quite a few factors.
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NEW YORK -- The CEO of Binance.US, the American arm of the world's largest cryptocurrency exchange, has resigned, robbing the company of a heavyweight former regulator as it grapples with increasing scrutiny from authorities around the world.
The SafeMoon price is already rising massively in the last 12 months, and it has marked an all-time high price of $0.00001399 a month ago. As per price predictions by analysts, SafeMoon price would close to a new all-time high level before this year-end without any resistance level indication. One more reason for this is the corporate SafeMoon involved in developing charity projects, influencing the liquidity pool attracting more users for investment.
Bitcoin’s current rally has been fueled by the U.S. trading debut of a Bitcoin-linked ETF as well as Elon Musk’s weekend Twitter poll, said Ben Caselin, head of research and strategy at crypto exchange AAX. “With Shiba and other memecoins having surged recently, and Facebook’s rebranding to Meta, interest in altcoins continues to rise.”
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With cryptocurrencies often moving in tandem with Bitcoin, Ethereum was trading up nearly 11% on the last seven days after hitting a new record high of almost $5,000 on Tuesday morning.
Safemoon protocol aims to create a self-regenerating automatic liquidity providing protocol that would pay out static rewards to holders and penalize sellers.
Immediately after the platform went live, Binance.US also launched its Referral Program with a range of rewards being available to the customers and their referees under certain requirements.
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Business News›Markets›Cryptocurrency›Binance US CEO Brooks resigns just three months into job
New Delhi: Major cryptocurrencies continued to gain following a rally in the weekend. However, investors booked profits in a couple of altcoins.
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According to Stephen Innes, the head of Asian trading for the foreign exchange Oanda, hacks were the first element to have a chilling effect on crypto. Hearing the amount of money that thieves were able to take, he says, “Consumers got very concerned that their money could go missing.”
If you’re investing in cryptocurrency, expect volatility to continue. That’s why experts recommend keeping your crypto investments to less than 5% of your total portfolio.
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It will impose a 10 percent penalty tax fee on sellers and redistribute five percent of this tax to other people who already own the cryptocurrency.