Should you buy SafeMoon after the beta launch of their cryptocurrency wallet?

Safemoon Wallet

SafeMoon SAFEMOON/USD is a BEP-20 token that launched on the Binance Smart Chain on March 8 of 2021, and uses proof-of-authority (PoA) as a consensus mechanism. 

The wallet beta release as a catalyst for growth 

Initially, a lot of people were hyped around SafeMoon’s debut on Ethereum as its bridge went live. However, it was missing some features. 

We saw an official announcement on the SafeMoon Twitter page on September 13 that the SafeMoon Wallet went live on Google Play.

SafeMoon is not a token that unlocks any voting rights on a certain protocol, and it is not a utility token; it is a token exclusively created to be a transfer of value. 

The token is powered by a distributed ledger known as the Blockchain and is designed to encourage long-term investment. 

It charges sellers a 10% fee, where half of the fee goes to SafeMoon’s existing cryptocurrency holders, and the other half is used in a liquidity pool that helps in the price’s stability of the token. 

By developing a native cryptocurrency wallet, users have an added way to store their SAFEMOON tokens and do not need to rely on third-party wallets anymore.

This has the potential of bringing the token’s value as well as circulating supply higher.

Should you buy SafeMoon (SAFEMOON)?

On September 15, SafeMoon (SAFEMOON) had a value of $0.00000188. 

In order to get an estimation of what kind of value point this is and analyze its overall growth, we will be going over it’s all-time high as well as its recent performance throughout August.

The all-time high value of SAFEMOON was achieved on May 11 when the token got up to $0.00001094 in value. This made the token $0.00000906 higher In value, or in other words, 481% higher.

When it comes to SAFEMOON’s lowest value point in August, it was on August 16 when the token was worth just $0.00000152.

On the other end of this spectrum, SAFEMOON’s highest point was on August 28, where it raised its value to $0.00000354. Here, we can see that the token increased in value by $0.00000202 throughout the month, or in other words, saw an increase of 132%.

Ever since August 28, however, it has dropped by $0.00000166 in value, which is a 46% decrease.

However, this leaves it with a lot of space to grow from September 15 onward, and especially with the launch of the new cryptocurrency wallet, we can expect its value to increase to $0.00000233 by the end of September.

This makes SafeMoon a worthwhile purchase.

The post Should you buy SafeMoon after the beta launch of their cryptocurrency wallet? appeared first on Invezz.

from Market Analysis – Invezz

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