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SafeMoon May Become the Talk of the Cryptocurrency World in the Near Future

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Investment in cryptocurrencies is slowly gaining a boom due to the rising awareness of people about them. It has led to the introduction of new digital currencies and SafeMoon is one name that landed in the cryptocurrency world on March 8, 2021.

Until now, there is not enough knowledge about the financial behavior of SafeMoon and its developers are spreading knowledge among people through digital means. They carried out a LIVE session “Ask Me Anything (AMA)” to answer queries about SafeMoon.

This new cryptocurrency got introduced after a hike in the value of DogeCoin over the last few months. Dogecoin is a cryptocurrency that came into existence in 2013 as a meme. At the time of writing this, exactly one month has passed since SafeMoon first made its news.

And SafeMoon is doing pretty well in the financial world and it has shown good growth over the last four weeks. SafeMoon developers are rewarding buyers and they are imposing a penalty on SafeMoon sellers to promote this new cryptocurrency.

It is a 100% community-driven and fair launch Defi token which financial experts believe is expected to gain the attention of investors in the near future. Since SafeMoon is not yet registered on any exchange, it is not easy to buy it.

Investors need to first purchase the Binance Coin (BNB) and then it is to be swapped for SafeMoon using a trusted crypto wallet. Financial experts are warning of the risk of investing in this cryptocurrency as not much time has passed since its arrival.

David Nicolas Albanese, a coin guru hopes that SafeMoon has the potential to show continuous growth in the near future. They have expressed that SafeMoon may gain unimaginable popularity in the cryptocurrency world as it is faring well.

From television to the internet platform, Jonathan switched his journey in digital media with Bigtime Daily. He served as a journalist for popular news channels and currently contributes his experience for Bigtime Daily by writing about the tech domain.

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Global Crypto Market Cap Threatens to Break Below Current 2022 Lows

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The global cryptocurrency market capitalization topped during the first half of November 2021, and since then it has been on a one-way ride towards the downside. With the entire market currently trading at approximately 35% below all-time highs, many traders are now wondering whether the sellers are already exhausted, meaning that an upward shift is due in the near future, or whether the bear market still has room to go. 

In such a challenging environment, trading or investing in crypto is tricky, making it difficult for traders/investors to time the market correctly, and spot key support/resistance areas on the chart. All of the variables that drove valuations higher between 2020-2021 (fiscal/monetary stimulus, weaker fiat currencies, and appetite for riskier assets) have reversed, leaving bulls stumbling for the exit. 

Bitcoin weakens below $40k 

Speaking of Bitcoin, the $38,000 area is regarded as key support, which might be one of the reasons why the price is still trading around it. The late-March 2022 rally failed to gather pace and now BTC finds itself trading close to the yearly lows. 

Things are not looking encouraging, not just because Bitcoin lost 40% from its peak, but also based on the market share. During broad crypto selling, the BTC market dominance increased in past cycles. It doesn’t seem to be the case now, as the figure has stabilized around 42% since mid-2021. Investors want to keep a diversified exposure even during a downturn, and this is a clear signal that Bitcoin’s safe-haven status is weakening. 

Major altcoins not showing signs of strength

Anyone who is just beginning to learn how to trade cryptocurrencies should know that this is an environment where caution is advised. Bitcoin aside, things are not looking very good for the altcoins sector as well. Based on the opening price at the beginning of 2022, Ethereum is down 24%, Binance Coin -26% and other tokens such as Solana are posting losses above 50%. 

There this might not be the time for buy and hold, considering that valuations might be even more attractive in the future. It is possible, however, to take advantage of what retail brokerages are offering in terms of crypto trading benefits. With derivatives based on cryptocurrencies, short-selling is a viable option, making it possible to take advantage of bearish conditions. 

Inflation and broad risk appetite

Rising inflation around the world set a chain of events in motion, and these events are clearly not in favor of crypto bulls. Central banks are forced to step in and normalize monetary policies in developed countries, for price increases to diminish towards their target of around 2%. 

Additionally, fiscal spending is taking a few steps back, as governments need to pay higher interest on new debt or refinancing operations. During a time of rising prices, private and institutional investors need to make concessions and prioritize spending. 

In such an environment, the interest in volatile assets such as crypto is very low, which explains the lack of momentum. For the time being, global capitalization is trading around $1.72 trillion and threatens to break below the 2022 low of $1.64 trillion. Until the global economy receives a new round of stimulus, there appears to be little hope for a strong bounce back to a bull run. 

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