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One more cryptocurrency community has risen up against the recent happenings in the crypto market with a new project called ElonMute which aims to mute the businessman’s Twitter account to protect the crypto market. ElonMute is a 100% community-driven project and has its own token called ElonMute available on Binance Smart Chain and Pancakeswap.The tweets revealed that the controversial decision was due to concern over the network's impact on the environment. BTC price dropped again recently, when the tweet seemed to signal dumping of cryptocurrency holdings.
“Everyone now knows the instant impact that such tweets can have, and so, these should be done with care and no one should use his reach to manipulate the market”, said one member of the cryptocurrency community.
In the wake of these tweets, lots of investors sold their cryptocurrencies, which led to a drop in the price of Bitcoin. Such is their influence. Initially they had boosted crypto markets with his enthusiasm, but recently the topics have been against cryptocurrency, specifically Bitcoin. These tweets have affected the market adversely and also turned the cryptocurrency community antagonistic.
ElonMute has been created with the sole objective of muting such tweets that toy with the Cryptocurrency market. This indeed seems like a war.
The ElonMusk coin initiative has received a positive response from the community. Within 24 hours of being born, the number of members of the Telegram channel quickly reached 1,000 people. The value of the token also increased rapidly by 12,000%. With the growing wave of the backlash, the token promises to grow more spectacularly in the future.
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Organization: ElonMute
Website: http://www.elonmute.com
Release ID: 89016717