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A new cryptocurrency token named GROK2, seemingly alluding toElon MusksAI chatbot venture, has surged an astonishing 2000%.
What Happened:Market data from Dextools shows GROK2 trading at $0.0004571, with a market cap of approximately $315,400. The 24-hour volume stands at an impressive $190,050.
Despite its name, this token has no official connection to Musk or his businesses.
The rally coincided with Musks blunt response to advertisers suspending spending on X after a controversy. In addressing the ad pauses, Musk stated, Dont advertise, adding, If somebodys going to try to blackmail me with advertising, blackmail me with money? Go f*ck yourself.
See More:Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Why It Matters:GROK2s surge seems linked to the names association with Grok, an AI chatbot service by the social app company X.
But Musk himself distanced his ventures from crypto tokens, stating in November on X, To be super clear, none of my companies will ever create a crypto token.
Its crucial to note that creating new cryptocurrencies is easily accessible to individuals with minimal technical knowledge, usingEthereums ETH/USD smart contract system or other blockchain mechanisms. Decentralized exchanges facilitate quick liquidity for these newly minted tokens.
Price Action: At the time of writing, Bitcoin BTC/USD was trading at $37,979, up 1% in the last 24 hours, according to Benzinga Pro.
Read Next: Heres How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?
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