Players hope that the fact that Musk bought Twitter will make more people use crypto and NFTs.
After Elon Musk’s Twitter buyout was announced on Tuesday, the value of meme crypto tokens with his name in them went up by a lot. Elon Buys Twitter (EBT), Doge Elon Mars, Elon GOAT, Floki Musk, and ElonHype were some of these coins.
Meme coins are digital currencies that have something to do with an internet joke or a reference to pop culture. But the meme coins only went up for a short time. By Wednesday, they had gone down again. Closer to home, tokens that Musk promoted, such as Dogecoin and Bitcoin (BTC), saw a spike and then a slowing down. Right after the news, Dogecoin prices went up by 25%, but they soon went back down.
In the wake of Musk’s acquisition of Twitter, exchanges and other participants in the crypto ecosystem are cautiously optimistic.
ElonHype’s Listing on CoinGecko
The idea of ElonHype is that investors don’t have to keep up with the latest hype currencies. They stand to gain a lot if they stick with the system. It has a reputable team of entrepreneurs that will take care of the hard-earned profits of its clientele. ElonHype is not a one-day token, and its goal is to build a robust community of people interested in developing new tokens.
Before listing on CoinGecko and other exchanges, ElonHype’s $HYPESALE launchpad broke the DxSale/PinkSale oligopoly. It charged less fees for presale organizing. Therefore, investors are protected through project and contract screening. It was first announced on April 14, 2022 with a soft cap of 20 BNB. This is known to be the safest and cheapest launchpad for users as ElonHype ecosystem claims to be.
The Surge of Elon Musk-Based Tokens
According to Sathvik Vishwanath, CEO of Unocoin, decentralization and cryptos are two of Musk’s social causes. When Twitter is under his control, we should expect to see a lot more use of the payment rails and the NFT aspect of blockchain. As a result, anyone may potentially transmit money to anyone else around the world by sending them a tweet or a message.
People think that when Elon Musk runs Twitter, it will get closer to its goal of free speech by making its algorithms open-source and building trust. As what the ElonHype team claims in their Twitter account, they have always been Elon Musk’s fans. They also stated that freedom of speech is now under reliable protection. Second, the fact that Twitter is one of the biggest places for creators around the world will make it easier for crypto and NFTs to be used through the ecosystem.
Twitter has always been in favor of Crypto. In the US, you can connect your NFTs to your profile using Twitter Blue. You can give crypto and Dogecoin as tips to people on Twitter. With Elon in charge, Twitter will support more coins.