Why It Makes Sense to Learn More About SafeMoon

SafeMoon is an interesting cryptocurrency, as it gained popularity in recent days and consequently, surged in value. This cryptocurrency was launched in March, but it has a huge potential to reach impressive results. Two days ago, it recorded a 99% rise on Sunday after Bitcoin had its biggest single-day drop for months. SafeMoon’s great result came after DogeCoin’s phenomenal result.

The price of DogeCoin increased 91% in 24 hours after Elon Musk tweeted about the cryptocurrency. This cryptocurrency rose from relative obscurity to become a cryptocurrency that is making investors serious money.

Technically, SafeMoon is not a cryptocurrency, it is a Defi token based on the information taken from its website. As a reminder, DeFi stands for a decentralized finance token. They are very complex but principally aim to disrupt the finance world to enable people to follow and lend in peer-to-peer networks, without needing a bank. As in the case of Bitcoin, they use a complicated method called blockchain technology.

The price of this cryptocurrency jumped more than 290% in three weeks as of April 19. Unsurprisingly, it drew interest from a variety of investors in the crypto space.

It aims to build rewards for people who hold their tokens for a longer period of time and penalize those that choose to sell quickly. SafeMoon charges sellers a fee of 10% of the amount that they choose to sell while rewarding those who still hold the cryptocurrency with 5% of the seller’s fee.

These multi-level marketing tactics mean that it needs more buyers to keep buying to keep the price up. Consumers should consider the impact of fees and charges on their investment before investing in this cryptocurrency. SafeMoon is a new cryptocurrency, so it is desirable to learn as much as possible about this cryptocurrency.

SafeMoon and its plans for the future

The DeFi protocol also plans to launch an NFT marketplace. The company claims that it raised $700,000 from donors for the project. The exchange also plans to extend the concept behind SafeMoon to other cryptocurrencies as well. So far, the exchange managed to acquire more than 600,000 holders of the SafeMoon token based on the data shared on its website.

Currently, SafeMoon’s crypto token is only available on WhiteBIT, BitMart as well as on decentralized exchanges like PancakeSwap. The SafeMoon community wants Binance and other top cryptocurrency exchanges to list the cryptocurrency.