The appetite for crypto currencies is not losing its breath. SafeMoon wants to join the rank of the major virtual devices, by creating a safer version. Its plan is to charge high fees per transaction, in order to limit them. Will it work? Here is what the situation looks like, currently.
A Market High on Crypto Currencies
If you are wondering how hungry the market is for crypto currencies, look no further than the example of SafeMoon. There are already 2 million traders that have bought some of this virtual device, that is currently worth $.000007. But don’t let that fool you. It is already 202% higher, in just one month. That is greatly due to the fact that cryptocurrencies, as a whole, have been gaining through the last months. If you want to get into the action, with SafeMoon or others like Bitcoin and Ethereum, find the best trading platform online, today.
SafeMoon aims to reduce Price Fluctuations
What is the one thing that keeps some investors away from trading Bitcoins, Ethereum and other crypto devices? The fact that it is so unstable. The creators of SafeMoon know it well, and they are aiming their sales pitch towards those who fear these highs and lows. How they plan to create a more stable crypto currency, has still yet to prove that it will work. But the theory is to charge a 10% transaction fee on each sale, so that people keep the currency for longer periods of time. Will that stop people from selling, in a moment of panic, like we have seen at the start of the pandemic? It is hard to tell. But the theory in itself is interesting.
What is SafeMoon exactly and how can it be used?
The problem potential buyers see in SafeMoon is that they don’t really understand what it is, and how you can use it. It would seem to be like other crypto currencies coming on the market, without too many explanations. Yet, many of them do well, as soon as they come out. For example, dogecoin, that was backed by a certain “new” specialist of virtual devices, Mr. Elon Musk, or another dog-themed coin called Shiba Inu, which also gained ground in only one week in the financial markets.
The market cap of SafeMoon is set at 4.1 billion $US. That is quite low, compared to Bitcoin at $792.3 billion and $365.1 billion for Ethereum. Could that be part of the answer in stabilizing the currency? We’ll have to wait and see, as only time will tell.