xrp crypto value

Will the price break out?

Will the price break out?
Written by publisher team

Moonsafe, the DeFi token for growing crops, continues to drop in price as it begins migrating users to version 2.

It has lost 52% of its value since the beginning of December and is currently trading at $0.000001486 (Dec 22).

Safemoon emerged in March 2021 as a community-focused decentralized finance (DeFi) token to challenge popular cryptocurrencies such as dogecoin (DOGE) and shiba inu (SHIB). Like other memes, it has built a huge following, the so-called Savimon Army. Migration began on December 12, says Safmon Offers Many advantages.

What is Safemoon and how does it work? What has pushed the price higher in recent weeks and what are the expectations for the currency?

Safemoon aims to reward ‘scammers’

The name safemoon is a reference to the phrase “to the moon” used on social media by cryptocurrency traders who are bullish on the price of the Dogecoin.

How does Safemoon work? The cryptocurrency is a revenue-growing DeFi token that powers the SafeMoon protocol on the Binance Smart Chain (BSC). Yield farming is a process by which cryptocurrency investors are rewarded with interest payments in the form of additional tokens, in the same way that a bank pays interest or a stock pays a dividend. DeFi tokens make use of smart contracts that run on blockchains to provide decentralized services.

The protocol is based on three functions, which refer to inversion, LP acquisition and burning, according to the official website. The bonus mechanism for holding safemoon tokens reflects the trading volume to encourage holders to hold their tokens, known as “hodling” in the cryptocurrency market.

The contract adds tokens from sellers and buyers to the LP to create a price floor to support the safemoon value. The development team manually burns or destroys tokens to control the circulating supply.

What makes Safemoon unique? Currency purchases and sales are subject to a fee of 10%, which is redistributed as follows:

Credit: Capital.com

Safemoon Program Updates Attract Investors’ Interest

Safemoon’s price has surged as much as 46,533% from its launch to a peak of $0.00001399 on April 20th. The price then fell again to $0.00000361 on May 2, before rebounding to $0.00001039 on May 15. But the cryptocurrency market started selling sharply at the end of May and the price fell over the summer to $0.0000015 on August 18th.

safemoon started rising at the end of August ahead of the planned launch of its software portfolio along with Android and iOS apps. However, it was the launch of the wallet delay On August 28, due to technical issues, it caused the price to drop from $0.00000354 to $0.00000281. The price continued to decline in September, reaching $0.0000119 on September 10.

Android version of SafeMoon Wallet Launched On September 13, it supported a rally to $0.000001853 by September 15th. Developers opened the iOS app beta on September 30th while awaiting App Store approval.

A renewed surge in October brought it to $0.000006523 before retracing to today’s price (Dec 22) $0.000001486.

On October 3, the developers indicated an updated roadmap for safemoon encryption. They plan to release Version 2 of coin, which would have a total new supply of $1 trillion, and a coin burn that would contain 575 billion coins in circulation. According to the updated Safemoon news published on October 13, new copy It will have a lower fee to enable safemoon to be used for trading, but a 10% fee will still apply to day trades. Consequence is 1000:1.

On November 28, the organization tweeted during a Q&A that “The launch will be a surprise – but soonHe added that it has been successfully deployed and is now working on the app’s user interface.

On December 12, CEO John Garrone chirp That V2 was live adding that there are some “new features in the portfolio”.

The new version of the coin could provide an opportunity for developers to address 12 flaws that blockchain security firm Certik found in its security audit for safemoon in April. There was an additional critical risk surrounding the accumulation of liquidity tokens that Certik has since identified as defunct.

Updated security software road map It also includes the launch of cards, exchange and blockchain scheduled for this year, while the launch of the hard wallet has been postponed until 2022 “to focus on wallet development.”

On November 6, the company tweeted 600,000 downloads SafeMoon Wallet apps for Android and iOS. She added that there are 2.9 million phage carriers. The apps will launch more swap pairs for Ether and BSC currencies. On October 14, SafeMoon Wallet added An option to buy BNB, the original cryptocurrency of Binance, which was banned in the UK earlier this year, and transfer it to safemoon.

Safemoon’s price has been trending higher in response to the updates. The potential for reduced supply of circulated coins and expanded use could provide support for cryptocurrency adoption. Where does the forecast indicate that the currency price could move next?

Safemoon Price Prediction: Does Coin Have a Future?

At the time of writing, on December 22, DigitalCoin’s secure cryptocurrency price prediction predicted that the coin could trade at an average price of $0.0000023914 in 2022, rise to an average of $0.0000026649 in 2023 and $0.0000027617 in 2025. By 2028, DigitalCoin suggested a safe flight could average $0.0000062427.

In contrast, price forecasts have estimated that there is a potential for the security’s price to rise to its previous high later this decade. It forecasts an average price of $0.00000221 in 2022, rising to $0.00000703 in 2025, and reaching $0.000004827 by 2030.

It is important to keep in mind that the cryptocurrency markets are very volatile, which makes it difficult to accurately predict the price of a coin within a few hours, and even more difficult to provide long-term estimates. As such, analysts can get their forecasts wrong.

We always recommend that you do your own research, and consider the latest market trends, news, technical and fundamental analysis and expert opinions before making any investment decision. And never invest more than you can afford to lose.

Follow Capital.com to stay up to date with the latest market news, analysis and forecasts.

questions and answers

Read More: AVAX Price Prediction: Is a Coin Buy, Sell or Hold?

Ready to get started?

Download Capital.com

The difference between trading assets and contracts for difference
The main difference between trading CFDs and trading assets, such as commodities and stocks, is that you do not own the underlying asset when you are trading a CFD.
You can still profit if the market moves in your favour, or incur a loss if it moves against you. However, with traditional trading, you enter into a contract to exchange legal ownership of individual shares or commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of your CFD trade in order to open a position. But with traditional trading, you can buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there are fees when buying shares, for example.
CFDs attract overnight costs of making trades (unless you use 1-1) leverage, making them more suitable for short-term trading opportunities. Stocks and commodities are usually bought and held for a longer period. You may also pay a commission or broker fees when buying and selling assets directly and you will need a place to store them safely.

Capital com is an executive only company. The material presented on this website is for informational purposes only and should not be construed as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capitalcom or its agents. We do not make any representations or warranties as to the accuracy or completeness of the information on this page. If you rely on the information on this page, you do so entirely at your own risk.

About the author

publisher team

Leave a Comment

All rights are reserved to : arabaoyunoyna