The SAFEMOON token has gained 9%-plus in the last 24 hours so far and boasts a market cap of $3 billion. Over the past week, the meme coin has more than doubled in value.
If you already have a wallet on the Binance Smart Chain, getting Safemoon is as simple as exchanging it for any other token in your wallet on a decentralized exchange (DEX) such as PancakeSwap.
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Chief among them was PayPal, which made Tesla founder and noted cryptocurrency advocate Elon Musk’s first fortune and proved to be a harbinger of today’s mobile payment technologies that have exploded in popularity over the past 10 years.
SafeMoon has announced on its website that it’s making moves to be available on Binance and Mandala by the end of 2021, but for now, the crypto is available via PancakeSwap. If you do decide to invest, just remember to do so at your own risk and remember, never invest what you can’t afford to lose.
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Portnoy might have ended his video saying “to the moon safely we go”, but you might be asking, how safe really is SafeMoon? Although Portnoy’s stint seems like a bit of a joke, so did Dogecoin and the proliferation of dog-themed altcoins that piggybacked onto the trend—there’s no saying what can come next.
“Everybody’s definition of a headquarters of a company is different. When you ask how you define a headquarters --- is that an office where people sit? I worked from home for the last three and a half years. Our leadership team are not sitting in one office, we don’t have a clear place where we can go, by most people’s normal definitions of a headquarters that we can call a headquarters. So, when people ask me, I don’t want to give them a wrong answer just to satisfy their definition.”
The plunge occurred at 7:34 a.m. New York time, according to the Binance.US website. Volume on the exchange in that minute was 592.8 Bitcoin, which are worth just shy of $40 million at current prevailing prices.
Critics also highlighted that its website contained many spelling mistakes and grammatical errors. The website is no longer online and social media accounts promoting the tokens have also vanished.
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"The more people join, the larger reward pool will be (sic)," according to the issue document, which says developers will take 10% of the entry fee with the remaining 90% given to the winner.
SafeMoon investors appear satisfied that the supply is now being spread among the community.
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The world’s largest crypto exchange is going legit. Binance, which processes more than $1 billion on a daily basis and for so long has embodied crypto’s Wild West culture, announced that it will launch a U.S.-based service — but, in the meantime, it is implementing restrictions for U.S. passport holders worldwide and those based in the country.
The next problem is it is a relatively new industry. Not many people know about it and even less have invested in it. Most people are not that familiar with the terms or the technology used in this industry.
Since the 2019 introduction of Binance.US, which Binance has referred to in the past as a U.S. partner, the international Binance has faced regulatory scrutiny — though that scrutiny has not extended to Binance.US. For example, Italian regulators announced on July 15 Binance was no longer authorized to operate in the country.