Safe

April

Coin

<ul class="news-points">
 <li>Safe tokens plummeted by 42% to $1.88 on April 30th after enabling token transferability.</li>
 <li>DAO paused the token release to facilitate “progressive decentralization.”</li>
 <li>Safe team disclosed the project’s aim to establish the internet’s ownership framework.</li>
</ul>
Following Safe’s unlocking of token transferability, its native token, SAFE, experienced a significant dip in market movement. According to Coingecko <a href="https://www.coingecko.com/en/coins/safe" target="_blank" rel="noopener noreferrer nofollow">data</a>, Safe traded at $3.26 on April 23rd. However, it is changing hands at $1.88, marking a significant 42% since the resumption of token transfers.
Safe’s token contract resumed on April 23rd, allowing holders to initiate token transfers. Following the project’s <a href="https://coinedition.com/decentralized-autonomous-organization-dao/" target="_blank" rel="noopener noreferrer nofollow">decentralized autonomous organization (DAO)</a> decision in 2022, these tokens were restricted for two years.
This decision came after <a href="https://coinedition.com/safedao-greenlights-transferability-proposal-sep22-for-safe-token/" target="_blank" rel="noopener noreferrer nofollow">SafeDAO voted on a proposal</a> regarding token transferability, with an overwhelming 99.1% of participants voting in favor of the proposal.
A representative from Safe revealed that the DAO opted to pause the token release to facilitate “progressive decentralization.” The community partnered on a comprehensive roadmap covering governance processes and resource all…
The post <a href="https://coinedition.com/safe-tokens-price-dips-by-42-after-resumption-of-transfers/" rel="noopener noreferrer nofollow">Safe Token’s Price Dips by 42% After Resumption of Transfers</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Safe Token’s Price Dips by 42% After Resumption of Transfers

Coin Edition

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