Crypto Token Named After Elon Musk's AI Chatbot Up 2,000% After He Curses Out Hesitant Advertisers On X

A new cryptocurrency token named GROK2, seemingly alluding to Elon Musk‘s AI 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 Musk’s blunt response to advertisers suspending spending on X after a controversy. In addressing the ad pauses, Musk stated, “Don’t advertise,” adding, “If somebody’s going to try to blackmail me with advertising, blackmail me with money? Go f*ck yourself.”

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Why It Matters: GROK2’s surge seems linked to the name’s 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.”

It’s crucial to note that creating new cryptocurrencies is easily accessible to individuals with minimal technical knowledge, using Ethereum‘s (CRYPTO: ETH) 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 (CRYPTO: BTC) was trading at $37,979, up 1% in the last 24 hours, according to Benzinga Pro.

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