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So far, the main thing that has driven Safemoon has been the hype generated by celebrity backing. Celebrities such as Jake Paul, Afrojack, and Keemstar have also promoted the coin this year, leading to significant price increases.

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Additionally, cryptocurrencies are frequently used to facilitate gray and black market transactions, so many countries view them with distrust or outright animosity.
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Atlanta, US, Sept. 22, 2021 (GLOBE NEWSWIRE) -- The crypto world is changing every day. We have seen many successful new cryptocurrencies exploding like DOGECOIN & SAFEMOON. The growth of the crypto market is providing ordinary investors with exponential returns and more unique opportunities to grow their wealth. SAFEMOON, which initiated with an initial supply of 777 trillion, and has a shallow market cap, is one of the most successful stories in the crypto world. An initial investment of $1,000 in SafeMoon would now have been worth around $3.5 million.
Other cryptocurrencies are also now strong investment options and the Shiba Inu-themed Dogecoin, whose symbol is DOGE, which was initially created as a joke, is now one of the best known tokens. It is now priced at ₹21.14, down from ₹21.83, a change of -3.15% in 24-hours. It’s market cap is currently ₹2.6T.

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Copyright: © 2018 Phillips, Gorse. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
Besides the products offered, one of the effects of the split of Binance.US from Binance was on the liquidity pool.

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"Play-to-earn" cryptocurrency is where people buy tokens to use in online games and can earn more tokens which can later be exchanged for other cryptocurrencies or national currencies.

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    Overall, we’d urge you to do your own research if you were to invest in Safemoon. Common investment advice states that the cryptocurrencies which perform the best over the longer term are those with real-world utility, which Safemoon doesn’t seem to have at present. Although the developers may improve the protocol and create some valuable use cases, there is still the chance that this coin could be a ‘memecoin’.

    Crypto prices have been on a tear for the past several months, but the past week has been the clearest sign of a correction to climbing prices, though many see news of President Biden’s adjustment to the hikes on the capital gains tax as the most apparent reason for the market’s slide as investors cash out hoping their gains won’t be reached by a retroactive application of the rules.
    Rivian's IPO was a smashing success, generating real interest among institutional investors. That could be a problem for Tesla—and the S&P 500.

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    In the last 24 hours, Bitcoin has gained around 3 percent and is trading above $67,000. The crypto has added over 10 percent in the past week.

    Cryptocurrency transactions are recorded on a decentralized ledger. This ledger is called a blockchain. Every time crypto is bought or sold, the transaction is added to the blockchain — a public database of the transactions, which is available to other crypto holders. Anyone can join and participate in the blockchain, but data on individual transactions — and the people involved with them — are secured using cryptography (the basis for the term cryptocurrency). For each transaction added to the blockchain, there’s a digital validation process to verify it and prevent fraud.
    There is a lot of volatility in the cryptocurrency space due to the industry’s newness. Investors are seeking to experiment with their money to generate riches quickly and figure out how cryptocurrency prices vary and whether they can affect them.

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    Rising inflationary pressures are dragging stocks and bonds, which may prompt the Fed to hike interest rates earlier than expected, an expert said.
    SafeMoon technically isn't a cryptocurrency but a DeFi token, according to its website.

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    Cryptocurrency prices continued to tumble Friday with Bitcoin leading the charge, with prices for the internet currency dipping below $50,000 for the first time since early March.

    While it shares characteristics of both currency and investments, there’s still debate among experts about whether cryptocurrency is clearly one or the other.
    Binance, the original platform, despite its many outages in recent months, stands out from its U.S. counterpart. The range of cryptocurrencies, features, and ease of use far out does Binance.US. Many hope that the number of faults and outages will reduce going forward.

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While the biggest cryptocurrency trades strong, its market dominance has been dipping as investors shift to altcoins, said CoinDCX Research Team.

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Assets hovered at record highs even after the Fed said that "asset prices may be vulnerable to significant declines."

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