Bitcoin news LIVE – Safemoon records 130% price rise as Elongate becomes newest Cryptocurrency in tribute to Elon Musk

NEW cryptocurrency SafeMoon has gained popularity in recent days recording a 130% rise in value.

The new currency, which taxes sellers 5% and distributes the funds among those who hold on to their coins, has shot up in popularity thanks to huge hype among crypto fans online.

However, investors should approach the currency with caution.

Safemoon is relatively unknown and no-one knows much about it – so be aware that the risk to your cash is much greater. 

It comes as Elongate became the world’s newest cryptocurrency in tribute to billionaire Elon Musk who has become something of a hero for many fans of cypto investments.

Musk’s constant tweets about various cryptocurrencies have seen the value of joke coins such as Dogecoin soar.

And his decision for Tesla to invest heavily in Bitcoin and for Tesla to make preparations to receive payments using the currency has also had a massive impact on its value.

Read our cyptocurrency live blog below for the very latest updates…

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