![]() ![]() Consulting the white paper, this does not all add up. Streeter said: "Volatility is the name of the game in the crypto world, with coins on a rollercoaster ride from week to week, and predicting the point at which demand subsides and prices begin to fall is very difficult, if not impossible. SafeMoon is currently trading at 0.00000516, 63 below the all-time high of 0.000014 that it hit on April 20. According to the Coinopsy website, close to 2,000 cryptocurrencies have failed in the past. However, even tokens or coins that have more obvious purposes are liable to fail. "Solana's meteoric rise is based off the belief its high performance is so much faster than Ethereum, it could become the altcoin of choice for widespread adoption." At its peak, SafeMoon reached more than 0.00001 per token. Moya said coins like solana were becoming more popular as people try to find competitors to the Ethereum network. It came out to a bunch of hype last year and initially skyrocketed in value. Ong cited uniswap and aave as two examples. Its a decentralized finance (DeFi) application that allows a wide variety of trading, liquidity providing and yield farming operations. PancakeSwap was launched last fall and serves as an automated market maker. However, SafeMoon is designed to reward long. But Ong added: "To say that all 6,000 altcoins are useless is unfair." He said he is broadly supportive of tokens that are part of the decentralized finance movement, which aims to use blockchain technology to create safe financial contracts without the need for central parties like banks. The leading way to buy SafeMoon is through PancakeSwap. To be sure, the crypto, launched in March, is neither inherently safe nor is it guaranteed to figuratively or otherwise take investors to the moon. ![]()
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