SafeMoon teases an exchange launch soon, should you buy SFM?

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The SafeMoon Protocol SFM/USD is a decentralized finance (DeFi) cryptocurrency that combines RFI tokenomics through an auto-liquidity generating protocol.

The SafeMoon protocol works by taxing each transaction within a given trade, a fee of 10%, which gets cut in half. 

Functionality wise 5% of this fee is redistributed to all of the token holders at the time, whilst the other 5% is split in half again. 50% of that split is sold by the contract into BNB, while 50% is automatically paired with BNB and added to the PancakeSwap liquidity pair.

The SafeMoon exchange was teased by the founder as a catalyst for growth

The CEO of SafeMoon, John Karony, made an interesting tweet on May 17, 2022 where he said that with each passing day, the team is one closer to releasing the SafeMoon exchange.

Karony did note that there are a lot of moving parts, from the creatives and compliance team to the team doing the coding, and that “team work makes the dream work.”

In December of 2021, when SafeMoon released V2, they did announce plans to launch their own blockchain, cryptocurrency exchange, hardware wallet, and even a macro Internet of Things (IoT) infrastructure. 

In fact, on September 15, 2021, we covered the beta launch of their cryptocurrency wallet.

This announcement for the SafeMoon exchange marks one step further towards the realization of that goal.

Should you buy SafeMoon (SFM)?

On May 18, 2022, SafeMoon (SFM) had a value of $0.000484.

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In order for us to get a better perspective as to what kind of value point this is for the SFM cryptocurrency, which is V2 of the SafeMoon project, we are going to go over its all-time high point of value, as well as its performance throughout last month.

When we look at the token’s all-time high point of value, SafeMoon (SFM) had its ATH on January 5, 2022, when the token reached a value of $0.00338272.

This means that at its ATH, the token was $​​0.00289872 higher in value, or by 599%.

With that in mind, when we take a look at the token’s performance in April, SafeMoon (SFM) had its highest point of value on April 4 at $0.001244.

Its lowest point of value was on April 30 at $0.0005016. This marked a decrease in value of $0.0007424 or 59%.

With this in mind, at $0.000484, SafeMoon (SFM) is a solid buy, as with the hype surrounding the launch of the exchange, we can expect the token to increase in value to $0.0008 by the end of May 20222.

The post SafeMoon teases an exchange launch soon, should you buy SFM? appeared first on Invezz.

from Market Analysis – Invezz

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