SafeMoon rallied strongly within a period of a few weeks, surging from near zero to $5 billion in valuation at its peak.
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The most fundamental thing you need to understand about Safemoon is that it is not a crypto coin. It is a token that operates on the Binance Smart Chain (BSC). In crypto jargon, a coin is a cryptocurrency that operates on its own blockchain. It is not the same as a token.
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The global crypto market cap jumped about 3 per cent, to $2.73 trillion mark compared to the last day. However, the total crypto market volume was largely flat at $129.42 billion.
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• Bitcoin (BTC, Tech/Adoption Grade “A-”) is flat so far today, hovering around $61,500. • Ethereum (ETH, Tech/Adoption Grade “A”) is down about a percentage point, sitting recently near...
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Additionally, crypto regulation outside the U.S. has changed over time, based on evolving regulatory guidelines. The fifth Anti-Money Laundering Directive from the European Union, for example, entails that crypto buying, selling and other operations must comply with certain guidelines in certain regions.
The world of cryptocurrencies can be a tricky field to navigate for the uninitiated.
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From a technical perspective, Bitcoin’s price action appears to be contained within an ascending parallel channel that developed since Oct. 4. Every time BTC has risen to this technical formation’s upper boundary since then, it has been rejected and retraced to the pattern’s lower edge. From this point, it tends to rebound, which is consistent with the characteristics of a parallel channel.
What Happened: According to Binance U.S. market data, the Bitcoin to the U.S. dollar trading pair on Binance U.S. flash crashed within a minute from $65,815 to $8,200. This translates to a drop of 87% for the world's top cryptocurrency on the exchange according to cited market data.
Users must face such restrictions when using Binance. Among countries to crackdown on the company are Hong Kong, Malaysia, and Lithuania. However, many countries do have full use of Binance, and these countries present opportunities for growth in these areas for the future.
As of November, there’s $219 billion in total value locked (TVL) within decentralized finance or DeFi. During the same time frame, trading from NFTs amounted to $4.2 billion according to DappRadar.