Downfall: It falls apart when no-one new wants to buy. The 5% of transactions going to current investors ensures this. 'Upside: Investors keep making money as long as new people are buying in. I would not claim this is a Ponzi Scheme but I do see the same upside and downfall. One Reddit post yesterday read: 'SafeMoon's market cap is over a billion dollars, and it's only existed for one month! We're making history.'Īnalyst and crypto blogger Lou Bagel writes: 'As far as I can see the coin has no utility. The currency has received a great deal of support from fans while some cryptocurrency enthusiasts have voiced skepticism. SafeMoon is currently worth roughly a four millionth of a dollar. SafeMoon has become one of the most-speculated cryptocurrency tokens on the web in recent weeks amid the Dogecoin surge. The team also announced some sort of NFT support in the SafeMoon wallet app. Currently the fundraiser has gained around $774,000 USD. The team has been seeking to raise $1 million to create the SafeMoon Exchange. That'll be the core function of the exchange.' 'Same with all of the other coins and tokens and things that we support. 'So when you hold your Bitcoins with us and someone transfers Bitcoin on our platform, you're going to be reflected from that user, some of that Bitcoin,' Smith said. He added the exchange would work in a similar way to the token, in that people will get rewarded for not selling-referred to as 'holding'-and penalized for selling. Turkey Bans Crypto, Bitcoin Value DropsĬurrently the currency is listed on the BitMart exchange but not on the major leading platforms Coinbase or Binance.ĭuring the AMA, Smith said SafeMoon's own token exchange was 'in the architecture phase.'.

Dogecoin Petition for Amazon to Accept Crypto Signed by 130,000 People.SafeMoon Crypto Raises $700,000 for New Exchange With Sights on $1m.

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