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One key point to note about Safemoon crypto is that the developers haven’t really described any real-world use cases yet. The Safemoon protocol was hyped hugely by celebrities back in May, causing retail investors to jump on the bandwagon and push price higher. Following this, the price fell dramatically, leading many to claim that Safemoon was a ‘pump and dump’ scheme designed to make certain investors rich.
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After all, gold is often touted as the ultimate inflation hedge, yet it’s still subject to wild volatility — more so than many developed countries’ fiat currencies.
Brian Brooks, former Binance.US CEO and Comptroller of the Currency, has been appointed CEO of BitFury, a Bitcoin mining and crypto company.
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The SafeMoon exchange is a revolutionary new idea that will bring tokenomics to all of crypto on its platform. We call this Cryptonomics.
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Holders earn passive rewards through static reflection as they watch their balance of SafeMoon grow indefinitely.
As this platform does business as a separate entity from Binance, the users’ digital assets will be stored in Binance.US wallets only.
Typically, meme coins don’t gain on fundamentals. Instead, they are usually driven by an internet-based joke.
As of 9:54 a.m. in New York, the overall market cap of cryptocurrencies hit $3.3 trillion, according to CoinGecko pricing. The third- and fourth-biggest tokens, Binance Coin and Solana, have added more than 20% in the past seven days; all of the seven biggest coins are up over the last week.
Brian Brooks, chief executive of the US arm of global cryptocurrency exchange Binance, said on Friday he had resigned just three months after taking up the role.
Cryptocurrency trading is a new, and growing, feature of the crypto world. Trading is separate from crypto’s use as a monetary system. Instead, users buy and sell cryptocurrencies as they would buy and sell shares of a company. Purchasing stock grants gives you ownership in a company, whereas purchasing a token grants you ownership of that cryptocurrency. In the U.S. tax system, cryptocurrency transactions are viewed in the same way as stock trading transactions. This reflects how most users are making money from the crypto world.