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SafeZone (SAFEZONE) up 41%, Here Are 3 Things You Don't Know About This Token

Thu, 01/26/2023 - 08:07
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Godfrey Benjamin
Though less known, SAFEZONE was among top gainers yesterday
SafeZone (SAFEZONE) up 41%, Here Are 3 Things You Don't Know About This Token
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When the crypto market is experiencing a broad price reversal, it is not uncommon to find a token whose price is decoupled from the pack. SafeZone (SAFEZONE) is that token today, as its price is up by 41% over the past week at the time of writing, per data from CoinMarketCap. At the current growth rate, the token is trading at $0.00135, a price point that is 92.23% below its all-time high (ATH).

Three facts about SafeZone

As a high flier yesterday, the fundamentals that are stirring the price of SafeZone remain an enigma to many. The token brands itself as a Web3.0 social networking platform, where the use of smart contracts can be efficiently utilized for asset trading and enhancing AI interactions, among other use cases.

Secondly, SafeZone is built on the Binance Smart Chain (BSC), making it not just interoperable with a number of smart contracts on the blockchain, but also as a protocol compatible with other Ethereum Virtual Machines (EVM). This function can grant SafeZone the much-coveted flexibility to grant its users wide-ranging uses across the board.

Lastly, SafeZone has a token burn feature that makes it deflationary.

It is not a meme coin with an enormous amount of supply, however, it has a structured pathway to steadily burn a portion its 500 million tokens that are currently in circulation.

SHIB Killer BONK Records Over 50% More Transactions Than Ethereum in Past 3 Days

Sustainable price action?

The crypto ecosystem is known to be one that has a high level of volatility, and extremely low-cap tokens like SafeZone are often susceptible to erratic price plunges. While it is hard to tell whether or not SAFEZONE will maintain this uptrend, the best-performing token thus far this year, Bonk (BONK) has a history of highs and lows, but with its growing community, the token may have a good future.

With SafeZone just coming into the limelight, though, such projections are hard to make.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.