SafeMoon Loses Nearly 80% of Value Despite Migrating to V2

The value of DeFi token SafeMoon, an altcoin project on Binance Smart Chain (BSC), has dropped significantly despite a network upgrade that was launched to spark more interest.

Between January 1, 2022, and June 19, SafeMoon‘s value fell 78.8% from $0.000002285 to $0.0000000003635. SafeMoon price is trading in a tight range despite posting some significant short-term gains in late March. At the time of writing, SafeMoon was trading at $0.00051574.

Specifically, the price correction is linked to general cryptocurrency market sentiment. However, SafeMoon has gone through the V2 upgrade which aims to increase the quality, security and accessibility of the cryptocurrency while attracting more users as well as unlocking different developments for the future.

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