With the investments on the digital currencies, cryptocurrency and its market is not a bizarre concept anymore. Undoubtedly, there are many cryptocurrencies, the most recent being Ethereum, Dogecoin, Bitcoin and StopElon. Just recently, the cryptocurrency world has welcomed another currency named SafeMoon.
SafeMoon was launched in March 2021, and despite the fact that this is a new cryptocurrency, it’s getting viral and globally noticed.
The name SafeMoon is actually ”Safely to the Moon”, a moon phrase which was firstly introduced with Dogecoin, whereas now SafeMoon follows up with it. This is a decentralized finance token, just like Bitcoin and its goals is to restore the price inconstancy problems.
As stated by the CoinMarketCap, SafeMoon has a currency value of $0.000003967, and a market cap of $2.2 billion. With its first introduction to the market, SafeMoon has actually had a stable increase in its prices.
The objective of SafeMoon is to encourage peer-to-peer trade, with a supply of 1 quadrillion tokes. Their launch supply proved to be 777 trillion tokens.
The team behind SafeMoon consist of: John Karony – CEO of SafeMoon who previously worked as an analyst for the US Department of Defense, Thomas Smith – CTO who was the CIO of Goldsmith Blockchain Consulting, Jach Haines-Davies – COO who worked for Likeandshare LTD in the past, as well as Ben Philips Media – Manager.
The website of SafeMoon states ”Holders earn passive rewards through static reflection as they watch their balance of SafeMoon grow indefinitely.” Additionally, what makes SafeMoon different from other cryptocurrencies is the Static RFI awards because it includes a manual burn strategy and not a digital burn for the supplies.
However, since SafeMoon has yet to be regulated, experts advise that it’s risky to invest in it. However, the team of SafeMoon has disregarded these issues and suspicions, and their goal is to bring SafeMoon into the African Markets, by discovering other exchanges such as Binance, and at some point, start its own exchange.