![]() ![]() The crypto upgraded from SafeMoon to SafeMoon V2 in December 2021, which brought in a new total SafeMoon supply of one trillion.īy upgrading, the crypto consolidated its tokens to a 1000:1 ratio. Lark Davis ApFrom SafeMoon to SafeMoon V2 Remember just because you make money off of a ponzi does not change the fact that it is a ponzi. The likeliness of losing all funds: Absolute.”Ĭrypto analyst Lark Davis compared SafeMoon to BitConnect which ended up being a Ponzi. He could pull LP and sell tokens, creating a rug pull. “Owner owns more than 50% of the liquidity and refuses to fix it. For instance, a Twitter user that aims to expose crypto scams said in a Tweet, Few critics also worry about the manual coin burns which might reduce its circulation.įrom the critics’ point of view, crypto appears to be an extremely high-risk speculative investment. SafeMoon’s design had produced a loyal group of early investors, but it has also opened the crypto up to criticism from industry experts and skeptics.įor instance, the crypto was referred to as a Ponzi scheme, pump and dump, an allegation that was denied by the company’s CEO. ![]() And, if investors were to sell at the dip, they would not only incur capital losses but also a 10% penalty. The main concern spinning around investing in this crypto is that, like the value of stocks and shares, the price of a SafeMoon coin could fall. This process creates increased scarcity, thus raising the crypto price.Ībove all, since these trading and cryptos are not regulated mostly, there is a high risk that there won’t be any protection if things go wrong. Manual Burn is a process that permanently removes tokens from circulation. By doing so, it can prevent larger dips when whales decide to sell their tokens later. Liquidity Pool Acquisition creates a solid price floor for both buyers and sellers. Reflection or static rewards approach aims to correct the problems of volatility by encouraging investors to hold onto their tokens. The SafeMoon Protocol has three fundamental features that occur with each transaction. The whole point of creating this crypto is to attract investors and thus drive up the price. With all the hype around the new coin, it is still valid to wonder if SafeMoon is safe or not. The crypto already reached over 2 million users,Ĭurrently trading at $0.000001361 at press time. High transaction fees of 10%, with 5% split among existing holders and 5% goes to the liquidity pool, The crypto gets its name from the phrase, “Safely To The Moon,” which means that the company’s ambition is to rise safely. SafeMoon is currently ranked 217 th popular of all cryptocurrencies. The price of the token soared reaching an all-time high of $0.000014 on April 20, shortly after its debut in March, according to CoinMarketCap. ![]() Known for its tremendous volatility, the cryptocurrency was designed in a way to encourage long-term investment and discourage people from selling the coin.Īccording to SafeMoon’s creators, half of the fees charged during transactions goes to a liquidity pool, in an effort to better maintain its price stability. It runs on the Binance Smart Chain blockchain, making it a little less accessible when compared to other digital assets like Bitcoin or Ethereum. SafeMoon describes itself as decentralized finance (DeFi) token. It gained widespread investors’ attention last year with its skyrocketing prices in April, only to see a sudden plunge later. One such newcomer that set foot on the market in March 2021, is the “cosmic-themed” cryptocurrency – SafeMoon. With the fact that there are more than 10,000 cryptocurrencies in existence as of February 2022 and more getting added daily, it is difficult to identify the right ones to invest in. ![]()
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