Safemoon and EverGrow Coin are dominating the reflection token space, turning them into top altcoin candidates to see price breakouts in 2022.
Reflection tokens like Safemoon and EverGrow Coin operate by a simple idea: rewarding investors a portion of each and every transaction. This includes buys and sells and sometimes transfers.
Though easily understood in principle, the roadmaps towards mass crypto adoption of Safemoon and EverGrow Coin are more complex.
While the crypto market has lost $500 billion this year so far, EverGrow Coin is one of few tokens that's been able to creep back up in price in April.
EverGrow Coin regained the prices it saw in January, to see a price rise from $0.00000039 to $0.00000062 in the last months. These are gains of 61% and which happened in the space of a few hours following a new listing of EverGrow Coin on the DigiFinex crypto exchange.
The volume added to the EverGrow Coin reflections and sent the total to over $36 million in BUSD rewards to date. For a project that launched in September last year, this is a high amount of stablecoin rewards to investors. The key difference between EverGrow Coin compared to Safemoon is that Safemoon rewards its investors in the native SAFEMOON tokens – EverGrow Coin pays reflections in Binance USE.
Safemoon V2 has seen a 70% spike in 24-hour trading volume – a total of over $4.5 million traded in the past day.
Safemoon is currently trading at $0.0005269 and remains one of the most popular reflection tokens with its 10% tax on transactions. As Safemoon V2 followers will know, there is a 10% on all buy/sell orders with 4% of this rewarded to investors in more SAFEMOON.
The Safemoon project launched a year ago and saw a huge price rally after being identified as a unique alternative to traditional investment accounts. Safemoon has been known to pay an APY of up to 80% – compare this with savings accounts from banks that typically pay under 1%.
Safemoon shifted to Safemoon V2 in December last year and has since seen an all-time high price of $0.007232. Safemoon is currently trading at a price of $0.0005282.
Disclaimer: The information posted in the article is for educational purposes only. By using this, you agree that the information does not constitute any investment or financial advice. Do conduct your own research and reach out to financial advisors before making any investment decisions.
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