It found that Safemoon’s owners secure tokens made from its liquidity pool. According to research by CoinMarketCap, SFM managed to reach highs of $0.000014 in April 2021.ĬertiK, a Blockchain security firm that audited Safemoon, came into a cautionary issue. While the price did soar not long after its introduction back in March 20210, SFM has since fallen nearly 80% from its peak price. This effort to reduce supply sees an increase in price as a result. Safemoon manually regularly reduces the amount of SFM in circulation. The other 5% contributes to a liquidity pool, an effort that goes a long way toward maintaining its price stability. Further, half of that 10 percent fee goes to Safemoon’s existing holders. This is achieved by charging sellers 10 percent in fees whenever they sell. Instead, SFM owners are encouraged to view the digital coin as a long-term investment. It was designed to discourage people using it as a daily trading commodity. Safemoon is the kind of cryptocurrency you buy and hold. The likes of Bitcoin, however, retain market caps in the region $930 billion. The cryptocurrency was formed on Binance's blockchain, called Smart Chain.īy September 2021, Safemoon held a market cap of about $1.3 billion. Much like its more popular rivals Bitcoin and Ethereum, Safemoon is powered by blockchain, a form of distributed ledger technology. They exist solely online and can be used as a medium of exchange. Safemon included itself in the surge of new cryptocurrencies seen in 2021. BNB Price Prediction Today (Binance Coin)
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