The prices of most cryptocurrencies have been falling recently under the influence of an inflationary market, with even Bitcoin falling to around $37,000. The price of the S&P 500 is also hovering around $4,100 and has been in a downward trend from April 28th to the time of writing. As we know, the price direction of cryptocurrencies is tied to financial trends in various countries, especially the United States. Would it be a good way to invest in smaller tokens like SafeMoon when stable cryptocurrencies are falling?
One of the advantages of investing in smaller cryptocurrencies is that the growth rate of tokens can be relatively fast, especially when the overall cryptocurrency market starts to resume its rise. Will SafeMoon, a cottage token that surged over 6,000% in 2021, become a surprise token when cryptocurrencies next rebound and how much more room is there for the SafeMoon price to rise?
SafeMoon will reward other investors who hold SafeMoon with a 2% trading fee on every order after the upgrade to SafeMoon V2 in October 2021. Not only that, but SafeMoon pays up to 80% of APY compared to bank savings accounts that typically pay less than 1%. Currently, SafeMoon is still one of the most popular reflection tokens.
However, not long ago SafeMoon was involved in a class-action lawsuit in which SafeMoon claimed to have recruited celebrities and used misleading propaganda to attract investors to buy tokens that the celebrities then sold for a profit. Some of the celebrities in the class action include musicians Nick Carter, Soulja Boy, Lil Yachty, and YouTube bloggers Jake Paul and Ben Phillips. But during the lawsuit, SafeMoon’s exposure increased and its price began to rise.
Which Exchange Is Better for Buying SafeMoon Tokens?
There are hundreds and thousands of exchanges on the market, yet not many of them can trade cryptocurrencies with high profit and low fees. https://www.gate.io/ is a top 10 international cryptocurrency exchange with 9 years of experience, where you can trade 1300+ different cryptocurrencies, including all major cryptocurrencies and small cryptocurrency tokens such as SafeMoon.
The Gate.io exchange, which updates cryptocurrency prices in real-time, provides you with the latest trading facts, so you won’t easily miss the best time to trade. In addition to this, there are many financial models, leveraged ETFs, perpetual contracts, and other sections to help you quickly understand the cryptocurrency market. What’s more, real-time community communication gives investors a space to chat freely. Gate.io exchange, trusted by many experienced investors, is a great choice for cryptocurrency newbies.
This article does not constitute investment or financial advice. Do your research before investing in cryptocurrencies.
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