The adoption of cryptocurrencies is accelerating more and more, proving that blockchain technology is strengthening and gaining creditience year after year. It can be said that the crypto market is not having a good time, in fact we are most likely going to enter a period of bear market that can potentially last for a long time. Bitcoin is trying to defend the support at $30,000 once again, and if it fails, it will drag all the other altcoins down with it. This could especially hurt new and fragile cryptocurrencies, including SafeMoon.
What Is SafeMoon?
SafeMoon is a community focused DeFi token that forms part of the expanding SafeMoon ecosystem. The team has presented this token as a deflationary currency that should gain value over time, because of its coin-burning strategy, and they have also promoted the ‘buy and hold’ philosophy by penalizing sellers and incentivizing holders. Right after its launch, the project attracted the attention of numerous people, especially newbies in the world of cryptocurrencies. During that period, there was a great social media campaign going on with several bullish predictions on SafeMoon price. The result was that the token did not even reach the first milestone of $0.10 per unit. It was not a good start, but the fate of this project could still be changed.
What Is Going On in Terms of Development?
The most recent development in the SafeMoon community was the partnership signed with EverGrow Coin, which was announced in February 2022. EverGrow is a yield farming and liquidity generation protocol that allows its token holders to earn 8% rewards from each buy/sell transaction in BUSD. Sellofs of this token are discouraged by limiting any sell amount to a maximum of 0.125% of the circulating supply. It is clear that the two projects have a lot in common, which justifies their business collaboration.
In practice, people can now swap EverGrow Coin ($EGC) on SafeMoon Wallet, which is part of the new utilities introduced into SafeMoon V2 to boost its performance in the crypto space. Apparently, this partnership should help SafeMoon in terms of adoption, as the EverGrow Coin holders will be pushed to interact with SFM also. In fact, one way to get the $EGC token is by buying SFM and swapping it to $EGC from the SafeMoon wallet. This could increase the demand for SFM and thus, the price too.
What Is the Best Way to Get These Two Tokens?
$EGC is not yet listed in major exchanges, so it seems that the best way to get it is to use the swap function on SafeMoon wallet, maybe using the SFM token. If you are wondering how to buy SafeMoon in the first place, a great option is to use https://www.gate.io/ crypto