What are SafeMoon Tokens?
SafeMoon Tokens are a cryptocurrency that was launched under BEP-20 tokens on the Binance Smart Chain (BSC) blockchain. These Tokens gained a lot of traction after receiving endorsements from celebrities like rapper Lil Yachty, YouTuber Jake Paul, and popular sports blogger Dave Portnoy. SafeMoon is currently the 117th largest cryptocurrency by market capitalization, according to CoinGecko. Meanwhile, CoinMarketCap ranks it as the 218th most popular cryptocurrency. However, both CoinMarketCap and CoinGecko agree that SafeMoon is more than 85% lower than its all-time high earlier this year. These token are considered to be quite a risky investment.
How Does SafeMoon Work?
The tokens have accumulated a market capitalization of about US $1.9 billion since their launch in March 2021. Cryptocurrency giant Bitcoin has a market cap of about US $1.1 trillion. Those wishing to invest need to pay a steep 10% charge. SafeMoon’s creators maintain that it was designed with the intention of encouraging long-term investment. As per the creators, half the money from the 10% charge goes to current holders. Meanwhile, the other half goes into the liquidity pool to maintain price stability. The creators have also decreased the quantity of SafeMoon in circulation. SafeMoon is not the only popular cryptocurrency in the running. Many video games like Thetan Arena, Phantom Galaxies and Axie Infinity have their own in-game currencies, To learn more about the THG to PHP conversion, read THG To PHP Calculator – How Much Philippine Peso (PHP) Is 1 Thetan Arena Coin?
