Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk on Tuesday agreeing to the prospects of launching “Marscoin” despatched one other namesake cryptocurrency skyrocketing.
What Occurred: Musk in response to a query posed by Binance CEO Changpeng Zhao on Twitter mentioned “There will certainly be a MarsCoin!”
There will certainly be a MarsCoin!
— Elon Musk (@elonmusk) February 16, 2021
Musk in December final 12 months, probably in jest, floated the thought of “Marscoin — ” a cryptocurrency that might apparently energy the financial system of a colonized Mars.
The issue with the thought? A cryptocurrency known as Marscoin (MARS) already exists, and it appears to be like like traders rushed to make purchases within the aftermath of Musk’s tweet.
Marscoin (MARS) was buying and selling 1,800% larger at $1.35 at press time on Tuesday. The cryptocurrency was buying and selling round $0.09 till earlier within the day earlier than Musk’s tweet and hit an all-time excessive of $2.5 greenback within the aftermath.
How Marscoin traded on Tuesday. A big spike is famous after Musk’s tweet. Courtesy: CoinMarketCap
Why It Issues: Musk typically strikes costs of belongings along with his tweets, with Dogecoin (DOGE) being his prime tweeting-target of late.
On this case, the billionaire entrepreneur was responding to queries of him launching his personal cryptocurrency, whether or not or not it’s known as “ElonCoin” or “MarsCoin.”
Musk final month publicly backed privacy-focused messaging app Sign and an unrelated penny inventory Sign Advance (OTC: SIGL) went skyrocketing as an alternative.
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