Safemoon is a brand new cryptocurrency just shooting onto the market in time for 2022. Appearing in 2021 Safemoon has burst onto the crypto scene in March as part of the Binance Smart Chain blockchain system.
The Safemoon team have stated that they are aiming to revolutionize tokenonmics and they are pushing a new brand of cryptonomics in their bid to be the next big cryptocurrency on the market in 2022.
The cryptocurrency Safemoon has framed itself around the idea of making fast profits as safely as possible. They used the tagline ‘to the moon’ and brought it together with a high-security focus to create the basis for the Safemoon system.
The Safemoon founder and CEO, John Karony, has built upon his career in the United States Department of Defense. He has used his previous expertise in cyber security and data encryption to work on building new safer ways to send and buy cryptocurrency. He is set on building up Safemoon to be a viable and profitable answer to some of the security problems faced by earlier altcoins that have struggled in the market.
True to its name, Safemoon shot towards the sky when its initial market entrance saw some early success. In 2021 the Safemoon cryptocurrency was backed early on by notable public figures. Among these were Youtube sensation Logan Paul, rap artist Lil- Yachty and sports personality Dave Portnoy. This early popularity supported Safemoons rise and boosted its market entrance period.
The surge of popularity in the early stages of the coin’s appearance in the cryptocurrency market has led the Safemoon crypto coin to quickly hit 1M shareholders. This impressive movement has left many investors considering what Safemoon’s movements will be in 2022 and beyond.
Safemoon Basics
Safemoon is upfront about the basic options available with their cryptocurrency and blockchain system. The transaction charge when trading in the SAFEMOON coins comes in at 10%. This is split equally into a two-part redistribution. This sends 5% of the charged fees back to those who own SAFEMOON and sends 5% into Binance Coin cryptocurrency wallets.
This is based on the idea of building up the cryptocurrency ecosystem around Safemoon in its early stages because the Safemoon cryptocurrency works off of the existing Binance blockchain system. The Binance coin that is accrued over time forms a BNB coin pile called a liquidity pool. This is then kept as a safety net of currency which helps to secure a more stable price point for Safemoon coin holders.
Using one existing cryptocurrency to layer security for a newer coin is a type system increasing being seen across the crypto market. Safemoon has used this security to get its next phase rolled out as quickly as possible, namely the V2 (second version) of Safemoon which is now live.
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The Safemoon Concept
The concept behind Safemoon focuses on plugging the gaps which have weakened previous cryptocurrencies which have struggled to stay afloat in the crypto market. Safemoon tackles issues with coin mining and farming and the reward systems attached to this. They also look at the issues surrounding available liquidity and maintain liquidity under different market pressures.
Mining has thrown up lots of pros and cons over the past decade of cryptocurrency expansion and the Decentralized finance (Defi) boom that has occurred. Mining has been found to often be an expensive process, both monetarily and in terms of very high energy consumption.
However, the mining systems used by successful cryptocurrencies like Bitcoin have also created huge investment opportunities and stable financial systems. This has pushed Safemoon to create a parallel mining rewards system that is based on their fee system. Safemoon has called this smart token reflection, and their system allows Safemoon users to make coins within their own crypto wallets where their purchased coins are stored.
To combat the liquidity problems faced across the Defi market when trying to maintain decentralised cryptocurrencies over time Safemoon has shifted the focus of their system. They have moved away from user-centred liquidity, where users are incentivised to provide the cryptocurrencies with available liquidity. Instead, they take on that responsibility as system creators.
Safemoon takes their smart contract functionality and uses it to form their liquidity pools under their own control which users are not relied upon to manage. These smart contracts also have the capacity to burn tokens, which is a feature added by Safemoon. This decreases the total supply and ensures the price is supported in its rise.
This combines the elements of a centralized system with some aspects of governed finance in order to create a hybrid system which Safemoon codes as tokenonics and cryptonomics.
This then pushes coin adoption forward and helps to build a strong early user base and faster rates of profit for new users.
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Early Phases Of Safemoon
Safemoon is still in its infancy as we arrive in 2022, having only entered the market in 2021. This gives investors a pivotal opportunity to enter on the ground floor of this cryptocurrency.
However, the coin already has its beta version of its Safemoon Wallet running for users to store their coins in. This was released in September 2021 and has been widely available to users since October of 2021.
December 2021 saw the quick release of the V2 Safemoon system, already updating the brand new system based on market interaction.
The V2 version has boosted the security of the system as well as accessibility to improve market adoption. The overall quality of the Safemoon user experience is also said to have been improved.
Although currently functioning on the Binance Coin blockchain protocol, Safemoon has stated that it is working on its own protocol. This SafeMoon blockchain system would be equipped with its own cryptocurrency exchange and an updated version of the SafeMoon crypto wallet.
Safemoon Security
Safemoon has so far been open and cooperative with auditing services and US government protocols regarding their launch of Safemoon. The CertiK security firm has given a post-audit rating which has progressed from about 80% to above 90% in recent months.
There have been concerns raised about the Safemoon system not being fully centralised. However, Safemoon feels that the centrally controlled liquidity pool is a key feature of their cryptocurrency and necessary to Safemoon security and functionality.
The system is currently regarded as fully transparent and open about its operations, after being vetted by the Nomics company.
Read More: Is SafeMoon Safe?
Trading SAFEMOON To USD
After its March 2021 entrance into the cryptocurrency market, the newly launched Safemoon native coin SAFEMOON began to trade in an upward trajectory. By May 2021 the first substantial surge occurred and the coin made massive headway and high percentage returns for early investors. This was followed by a volatile trading cycle between May and June. There has been a decline in trading as SAFEMOON has entered into a resistance period. But the coin is still up from its market entrance point.
This difficult trading period began to move into a recovery cycle in October 2021 and regained momentum over the month. November led to another surge in coin price, bringing the price up by 300% in the space of one week. There was a small correction following the surge which was a very good sign for the greater trading prospects for SAFEMOON. However, December has seen a dip in coin price and a sideways trading pattern has begun to emerge.
This resistance period will likely continue for the first few months of 2022, however, it should then give way to a return to positive trading and an upward trajectory.
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Will SAFEMOON Rebound From The Last Correction?
The last correction was a small one for Safemoon, which did not cause a large drop in coin price. However, it did trigger a downward trading cycle throughout December. This has now ended and the coin is in a sideways trading pattern. All though this is not what investors had hoped for in the first quarter of 2022 most crypto coins enter into a sideways trading period in their first year, and Safemoon should get through this stage in their early trading quickly, given the volatile trading throughout the previous year.
The second quarter of 2022 should see a good level of improvement, and later in 2022, a surge becomes more likely. This surge should be part of a pattern of upward movements that begin to grow the coin values for SAFEMOON. This makes the current downturn a good time for new investors to buy into Safemoon, while the coin price is extremely low. This would lead to profitable returns as trading conditions improve throughout 2022.
Predictions For Safemoon Price In 2022 And Beyond
Market experts are currently conflicted about the future of SAFEMOON given that the coin has been on the market for less than a year. This makes its longer-term trajectory very difficult to predict at present. The early surges have given positive signals that the Safemoon coin will break out of its sideways trading cycle and resume an upward trajectory. However, it is not clear if this will take place in 2022 or 2023.
The current trading patterns have occurred in quicker succession than most earlier coins, which makes it more likely that SAFEMOON will see a shorter sideways trading cycle and recover more quickly than earlier coins. Some of these coins were trading sideways for one to two years, however, it is unlikely that the total sideways trajectory will exceed six months.
Buying in at this bearish trading period is likely to yield good percentage returns late in 2022 and into 2023 and 2024. There will be some volatile trading patches, however, these are likely to take the overall coin price higher on average. This should lead to at least a modest upward coin price trajectory between 2022 and 2025.
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Safemoon Price Forecast For 2022
Although the current trading price is lower than expected at the present time, the Safemoon coin is an extremely cheap investment option at this stage. Given the previous surges throughout the coin’s first year of trading, the upward trajectory is likely to be resumed by the second or third quarter of 2022. As surges begin to stack up later in 2022, early investors and new investors stand to make good percentage returns for a very low initial investment.
It is currently unclear whether the surges will be substantially higher than have been noted so far by SAFEMOON. However, if this is the case then SAFEMOON will rise by several times its current coin price and become a highly profitable coin option by the end of 2022.
Although the more extreme predictions, which take SAFEMOON to the $0.01 mark are less likely, a positive profit result is very likely. The higher predictions would be a massive percentage increase from the current price of $0.00002 and would provide very high-profit margins for investors buying in at the current price point.
However, currently, expert analysts are warning that the current bearish trading cycle could continue into the second half of 2022. This would make short term profitability less likely and push back the likely time of high returns to the beginning of 2023.
However, if the surges in the third and fourth quarter of 2022 are substantial there could be a profitable turnaround despite the sideways trading pattern and current bearish conditions.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
FAQs
Who is behind Safemoon?
Safemoon was founded by its CEO John Karony, who previously had a career working for the Department of Security for the United States government. His brother Charles Karony is Vice President of Operations for Safemoon. Their team also includes Ryan Arriga and their Global head of products and David Smith and Director of Content.
What is Safemoon?
Safemoon is a new cryptocurrency and coin wallet system based on the Binance Coin blockchain protocol. Although Safemoon is currently based on Binance Coin’s existing technology the Safemoon group is working towards an independent system currently which would branch away from Binance Coin.
How does Safemoon compare to Bitcoin?
Safemoon is different to Bitcoin in a number of ways. Although part of the Defi sector, Safemoon is only partially decentralized, unlike Bitcoin which is fully decentralized. Safemoon has chosen to rely on some centralised governance to control its liquidity pools, rather than have the users control this as well. While Bitcoin is a high price cryptocurrency and growing in price consistently, Safemoon is a very new coin and is still extremely inexpensive. Investors are hoping to buy Safemoon at this very early stage and profit from a very low entry cost. Bitcoin is unlikely to drop significantly from the high coin prices currently.
Should I invest in Safemoon in 2022?
Safemoon is a good investment opportunity for those looking for a longer-term investment with steady growth prospects. This is also an excellent choice for those looking for a cheap cryptocurrency to invest in for 2022 as this coin is very new. Because it has been trading for such a short time the coin price is extremely low, hovering around $0.00002. This leaves great potential for future growth and high percentage returns for its investors.
Is Safemoon still going to go up?
Safemoon is likely to go up from its current position. The bearish trading cycle is currently keeping prices low, however, when this ends a return to bullish trading should see a steep rise in coin price.
What will SAFEMOON prices rise to in 2022?
Safemoon prices are likely to double before the end of 2022, they may even triple in price, providing profitable returns for new investors. SAFEMOON rose in price by 300% in its first three months which shows good potential for this to occur again in 2022.
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