Bitcoin pulse, guides and news: SafeMoon Burn Report

Thursday, May 20, 2021

SafeMoon Burn Report - Day 21 🚀

Wow, I was surprised there still were so many paper hands amongst all of us, yesterday we dipped hard down to 0.000003 but we are slowly recovering.

So the thing with crypto is that they mostly all follow Bitcoin, if Bitcoin goes one way, the others do as well. That is what we see with SafeMoon, we are still very dependent on the others.

Okay, the first order of business, why is our trading volume up 700% these last 24 hours, but our burn and reflection is not 7x?

https://coinmarketcap.com/currencies/safemoon/

Okay to be completely honest I still don't exactly know, but I have discussed this in my previous report, so I will quote from "Burn Report Day 19".

"Currently of what I understand, it works like this:

If an exchange supports tokenomics (except pancakeswap), they will only reflect tokens to the holders on the given site, and no tokens of the 5% will be burned.

If an exchange does not support tokenomics, tokens are burned and distributed, just like Pancakeswap does it."

So I am not sure about the reason for low reflection to PCS users today, most of the trading volume is on PCS, and I would have expected more burning.

But everyone that reads this holding on either Bitmart or MXC, because you are in your own little ecosystem, you should have received more reflections. Saying this I do NOT encourage moving away from TW, you will just be penalized for 10% of your holdings, and that will take a long time to earn back in reflections.

So, I still think the difference between reflections across sites, is one of the biggest problems with this project currently. I really hope this will be solved at some point in the near future, with Operation Pheonix or our own BlockChain. So if you u/papacthulu or u/JohnKarony is reading this, I would really appreciate a comment on this. :)

So my last report was released while the dip was happening, just before we reached an ATL for this week, so some were questioning why the burn was so low for that day. The explanation is simply that we're in the middle of everything, so the get the picture of the whole event, it is the 48 period you need to look at.

So the stats do not look shocking over a 24h period, but looking at hourly rates, we burned 50B in the following hour after releasing my last report. This is the most we have burned this whole week, but things are likely to slow down until a big catalyst comes, or we find a solution to the exchange problem.

With all this said, the crypto market seems a bit vulnerable at this point, so I do not have any price or burn expectations, but I must admit I'm glad we are over 200B for these 24 hours, with a burned change over +50%. Seeing so many of you still holding and believing in this project, makes me think that we are here to stay. Not any more words from me I think we should get to the daily numbers.

Here are the daily stats: