Discrepancy in price of token on spot and futures markets opens opportunities for arbitrageurs
“If you were to wake one morning to find that crypto has been banned by the developed nations and it became worthless, would you be OK?” Frederick Stanield, a CFP with Lifewater Wealth Management in Atlanta, Georgia, told NextAdvisor recently.
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Plenty of altcoins have also taken a beating. Dogecoin erased the breakneck gains of the week and then some, nearly halving its price after a meteoric climb last weekend. XRP is down 35% week-over-week, Stellar is down 30% and Polkadot is down 25% since last week.
Newly elected mayor Eric Adams says he'd like his first three paycheques in the cryptocurrency.
Some investors have predicted even bigger gains for Bitcoin, despite continued criticism of the cryptocurrency by JPMorgan Chase (JPM)CEO Jamie Dimon, who has called the coin "worthless."
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First launched in March of 2021, Safemoon began to surge in price about a month later, thanks to effective marketing by the founding team.
If they manage to do that, the BNB/USDT pair will challenge the overhead resistance at $691.80. The rising moving averages and the RSI in the overbought zone indicate the path of least resistance is to the upside.
Currently, the price of Safemoon is hovering around the $0.0000014 level. This is around 90% down from the heights the coin reached in April 2021.
“This is a legitimate technology–it’s going to expand,” he says, “My longer-term view is nowhere near where some of [my current] views are.” It could even perhaps hit $10,000 again, he says. But that will probably take a few years. For now, we wait and see.
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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Now that you’ve got an idea of what Safemoon is and its background, we can focus on the coin’s long-term outlook. Most beginner crypto investors simply buy Bitcoin (BTC) or Ethereum (ETH), although lesser-known coins such as Safemoon can be better options if you are looking for quick returns. However, that being said, these options tend to be much riskier, so this will depend on your risk tolerance.
Despite the new record high, Bitcoin is still a highly volatile and speculative investment. In fact, the last time the crypto saw a record high in mid-April, it abruptly lost over half of its value and plunged to around $30,000 by mid-July.
Finally, the 4JNET team does not hold any 4JNET tokens. The funds raised from the presale will go towards advertising on social media platforms like Facebook, Twitter, YouTube, and KOLs in the industry.
Alexis Ohanian has partnered with the Solana Foundation to invest $100 million to build social-media projects on the solana blockchain.
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