While Bitcoin tumbled, Ethereum was heavily rejected on Oct. 21 as it approached its mid-May all-time high at $4,380.
Buying interest in options tracking cryptocurrency ‘exploded’ after launch of bitcoin exchange traded fund
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“Ethereum is struggling a bit right now under the amount of its network activity. Gas fees can vary drastically and there’s competition now with other blockchains that offer lower transaction costs,” said Matta.
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Since the coin was launched less than four years ago, it has gained massively in terms of value. At the time of writing, the coin has increased its value in thousands of folds. The trend that Bitrise coin has followed has been almost the same as Safemoon, Shiba Inu, and other coins that have performed very well in the market.
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In 2017, Changpeng Zhao (also known as CZ), founded Binance. Zhao’s background includes developing high frequency trading software as well as working as an executive at another cryptocurrency exchange, OKCoin.
So, with SafeMoon’s promising start, where did it begin to go wrong for the cryptocurrency? Well, one of the concerns that emerged around SafeMoon is their 10% fee to ‘Buy and Sell’ structure. This raised red flags for several crypto investors as charging a 10% fee to buy and another 10% to sell is an unusual practice in the crypto realm and can be quite expensive for investors to front. Other critics of SafeMoon have questioned the authenticity of the cryptocurrency and have labelled it as an unsafe option to invest in.
At the moment, it is too early to say if Binance.US will employ security technologies from the global Binance platform which are usually described as being solid, despite a major hack this platform suffered in May 2019. Yet, the platform also responded to this incident in a generally well-received and timely manner.
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P.S. the only way to reach support is through email and when you send an email don’t be expecting to get a response back from their support team, I sent an email a few months ago and still haven’t heard back from them. The developer, Binance LTD, indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy.
CRYPTOCURRENCIES are a form of payment that can be exchanged for goods and services.