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Elon Musk has put up a bid of US$43 billion to buy Twitter, which is now pending regulatory approval. But the social networking site is already mulling over what this could mean for its ecosystem, especially when it comes to Crypto Twitter. A cryptocurrency token ELON BUYS TWITTER, which is being traded on decentralized exchanges, rallied over 10,500 percent in the last 24 hours after the news of the billionaire's takeover of the micro-blogging site hit the stands.
As per data from CoinMarketCap, the cryptocurrency token ELON BUYS TWITTER reached US$0.000009443 and was up 10,524 percent up, at its peak in the last 24 hours. The SpaceX and Tesla CEO's Twitter takeover has already caused a rally in the price of Dogecoin and other meme coins. Coming at the helm of Twitter, Musk has made no secret of the fact that countering scam bots will be the first item on his to-do list after taking over the social networking platform.
Dogecoin — the crypto that earned Elon Musk the nickname of 'Dogefather' — already saw a 30% surge in price along with other meme coins following suit after Musk's takeover was announced. The acquisition helped Dogecoin make a comeback into the top 10 most valuable cryptocurrencies in the world by market value.
ELON BUYS TWITTER will give meme creators a chance to earn and allow them to gain a stipulated revenue for their work. ELON BUYS TWITTER will help such aspiring meme creators showcase their talent to the world and add some monetary benefits to their pockets. ELON BUYS TWITTER is in the process of developing several revenue-generating platforms. Its ecosystem will also launch a series of Melon-based lazy games and provide play-to-earn opportunities. ELON BUYS TWITTER's long-term goal is to establish itself as an industry leader in the emerging DeFi sector. The underlying factor that will continue to define Blockchain products is the ability to give people and businesses more power and control over their finances. This is the driving force behind US$EBT.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
