Safemoon offers a unique way of investing in cryptocurrency, as people who hold Safemoon and then sell it are subject to a 10% fee. This fee is halved, with 5% of it being given back to other Safemoon holders – the developers call this ‘reflection’. The additional 5% is split again, with 2.5% being used within the liquidity pools on exchanges such Pancake Swap, with the other portion being converted into BNB.
Bitcoin is a good indicator of the crypto market in general, because it’s the largest cryptocurrency by market cap and the rest of the market tends to follow its trends.
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"We are LIVE and BOOMING!," said the community behind the newly launched Lorde Edge coin.
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An early-morning error led to the value of Bitcoin dropping nearly 87 percent on Binance's crypto exchange.
In order to not only favor early investors, 4JNET plans to decrease service charges by up to 10%. The decrease will go into effect as transaction volume increases, providing a bridge between early and late investors.
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.
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Some are curious if this meme coin will ever truly see a full Shiba and Dogecoin-like impact, although it’s already off to an impressive start.
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Safemoon launched on Binance Smart Chain (BSC) on March 8, which saw a 200-time increase within less than a month. That is to say, if someone invested 10,000 of the native token RMB 10,000 on March 3, they will have 2,000,000 RMB in April. Although Safemoon’s price has fallen to $0.000003, the investors may still be exposed to high rewards if they buy Safemoon now.
It hasn't yet been recognised by the major cryptocurrency sites such as Coinbase but why did it get so popular?
Loans offered via decentralised finance networks have been compared to fixed income securities
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“One of our institutional traders indicated to us that they had a bug in their trading algorithm, which appears to have caused the sell-off,” Binance.US said in the statement. “We are continuing to look into the event, but understand from the trader that they have now fixed their bug and that the issue appears to have been resolved.”
The cryptocurrency market is a vast and sometimes confusing place with different coins to choose from.
The flag-wavers point to these and other concerns to warn that SafeMoon may not, in fact, be safe.