As of February 2022, there are more than 10,000 cryptocurrencies in existence and more are being added every day, making it difficult to choose which ones to invest in.
Safe Moon blockchain , a cryptocurrency with a “cosmic” concept, entered the market in March 2021. Last year, it drew a lot of interest from investors when its prices soared in April, only to fall quickly afterward.
Definition of Safe Moon: Is It Safe to Do This?
According to SafeMoon, it is a DeFi (Decentralised Finance) coin. In comparison to other widely known cryptocurrencies like Bitcoin and Ethereum, this one relies on the Binance Smart Chain blockchain, which makes it more difficult to acquire.
The cryptocurrency was built in a way to encourage long-term investment and deter users from selling the coin, which is known for its high volatility.
The founders of Safe Moon claim that half of the transaction fees go to a liquidity pool to help keep the price stable.
As of April 20, the token’s value had reached an all-time high of $0.000014, according to CoinMarketCap.
Safe Moon is presently ranked 217th among all cryptocurrencies in terms of market popularity. The tagline “Safely To The Moon,” which inspired the company’s moniker, refers to its goal of reaching the moon safely.
Safe moon has a Number of Useful Features.
For investors, SafeMoon’s reward system for hanging onto their coins helps them to withstand market volatility. Reflection, LP Acquisition, and Burn are its three basic operations.
Mining rewards have several flaws, and static rewards, sometimes known as reflection, are an attempt to fix them. The following are the two ways it does this:
- Because the incentive is tied to trading volume, early adopters’ temptation to liquidate their holdings is lessened.
- It promotes holders of tokens to acquire more money based on the total amount of tokens they own.
Traditional mining incentives are a far cry from this technique. Bitcoin, for example, has a diminishing reward over time, which means that early adopters get more money for their work than latecomers.
That means early adopters have more cryptocurrency than those who just bought it, on average. Safe Moon’s reward system is designed to prevent early adopters from dumping their currencies in bulk.
The Purchase of LPS
The “secret sauce” of Safe Moon is the automatic liquidity pool, according to the white paper. Both buyers and sellers benefit from this feature since it establishes a firm price floor.
Long-term stability is a primary goal of the design. One of Safe Moon’s unique features is the fee assessed for the sale of coins. The smart contract imposes a 10% fee on every transaction. The fee is distributed among existing token holders in order to encourage investors to keep their tokens and not to sell them.
An important goal is to maintain token prices stable should whales decide to sell tokens later on in the game, thus preventing big drops in the market.
Performing a Hand-operated Burn
In order to withdraw tokens from circulation, many cryptocurrencies use a procedure known as token burning. To raise the perceived value of something by increasing its rarity, this procedure is employed. In certain crypto projects, coin burns have been ongoing since the beginning.
There are some advantages to manual burns rather than continuous ones in Safe Moon: For long-term investors, the premise is that this method can be used to conduct a constructive burn strategy. Burns can also be publicly reported and tracked, allowing for enhanced accountability.
Exactly How Much Money Can You Make With Safe moon?
It’s difficult to judge Safe Moon’s performance because it’s so new. The price is currently $0.000001701. Almost immediately after its inception, the price surged to an all-time high of $0.00001399 on April 20, more than 1,560 percent higher than the previous week’s average. When the market closed that day, the price had dropped to $0.00001118 and had been trending lower for several months before levelling off, save for a brief rise in May 2021.
According to CoinMarketCap, SafeMoon has a market capitalization of close to $1 billion, making it the 214th most valuable cryptocurrency in the world. Being competitive with over 9,500 other coins isn’t easy, but it doesn’t mean that this new cryptocurrency is a sound investment.
Exactly How Risk-free Is This Situation?
It’s understandable to ask if a new coin is safe in light of all the surrounding excitement. SafeMoon has been criticized by various analysts. Safe Moon, unlikmmmany cryptocurrency ventures, does nothing. It appears like the only goal is to persuade people to buy the product and raise the price.
As the wallet becomes more widely used, it’s possible that it’ll see an increase in buyers. According to BSC News, more than 100,000 Android users had already downloaded the wallet from Google Play by Oct. 1, while the iOS version just went online on Oct. 6 and zoomed up to No. 10 in the App Store within 12 hours. It had been downloaded 600,000 times on both platforms by the middle of November.
Where Can I Get Safe Moon?
As of January 14, you can buy SafeMoon directly through the Safe Moon wallet, however you must first acquire BNB, or Binance Coin, and then convert that to Smart Chain. When this is done, you may then use SafeMoon as an alternative. A variety of exchange platforms, such as PancakeSwap and BitMart, also allow you to buy Safe Moon. Take a look at the pros and cons of both.
Safe Moon’s Legality
SafeMoon has been the subject of controversy. Some experts have questioned the coin’s unusual structure, which encourages individuals to hold on to the coin, and its relative newness, with some analysts branding it a Ponzi scheme.
Another concern is that Safe Quinone John Barony, who has about half of the coin’s liquidity, might easily get rid of the coin and make it worthless. Barony, on the other hand, believes that the liquidity pool will only be used in emergency situations and that the funds could end up seeding exchanges that sell Safe Moon or fund future products.
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“Crypto Community of the Year” went to Safe Moon during the ABC Gaming Summit in Malta on November 16, 2021. “We’re a nine-month-old blockchain innovation company, a tech company,” Barony assured Safe Moon investors in his address.
There are currently 2.8 million holders of the most talked-about cryptocurrency on the market, making it one of the world’s fastest-growing groups. It was an honor to be recognized as the best cryptocurrency community in the world. It is estimated that we are worth somewhere between $3bn and $4bn, This was all accomplished in just nine months.”
A new team led by Safe Moon has replaced its chief blockchain officer, Thomas Smith. The handover process began in September of last year, according to that company’s statement. One million Safe Moon Wallet downloads were announced by SafeMoon on January 25, 2022.
According to a 1000:1 consolidation ratio, Safe Moon (SFM) will have a higher value than the safe Moo non SALMON) currency, but existing Safe Moon (SALMON) holders will not lose anything. However, SALMON holders will have to convert their old coin to SFM because the transfer is not automatic.
Safemoon’s Story Thus Far
On March 8th, 2021, SafeMoon went up for an introductory price of $0.000000001… As with everything new, curiosity quickly grew, and on April 3rd, the price jumped to $0.00000157. Within two weeks, the price began to fluctuate dramatically and has since remained in this range.
By early Sunday, it had more than doubled in value, reaching slightly about $0.0000029 on Friday. While the price increase was impressive at the time, it paled in comparison to what transpired afterward.
What the Safe moon Will Look Like in the Future
Gov.capital is gloomy about the Safe Moon price projection for 2022, predicting that the coin will eventually fall in value. The coin’s value is expected to be about $0.00262 at the end of the year, but it is expected to plummet to $0.000455 by the end of 2022.
DigitalCoinPrice, on the other hand, is more upbeat. Since May, the site has predicted that the price will rise to $0.00246 by the end of the year, having rebounded from a downturn that saw it plummet to $0.00213781008 in June. It is predicted to hit a high of $0.00760413058 in September 2029, according to the same web page.
The SFM price is expected to reach $0.003 in 2022, according to PricePrediction. That Safe Moon V2 is expected to burst through the cent barrier in 2026, when the average price is expected to be around $0.011. According to the same source, SFM will be worth $0.07 by the year 2031.
For Safe Moon V2, Telethon predicts a price range of between $0.0038 and $0.018 in 2022, but the most likely average is $0.0079. While the site’s projection for SFM’s value may be more optimistic than some others, the coin is expected to hit cents in 2023, reach ten cents in 2025 and even surpass a dollar in 2030, according to the site.