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Elon Musk Sparks Cryptocurrency Frenzy on Twitter Yet Again

Elon Musk Sparks Cryptocurrency Frenzy on Twitter Yet Again

Elon Musk has once again caused a stir on the social media platform Twitter regarding cryptocurrencies.

By mentioning two digital assets, he sent their values skyrocketing.

In a tweet that has since been deleted, Musk referenced layer-1 protocol Aptos (APT), leading to a surge in the price of the Ethereum (ETH) competitor’s token.

The tweet contained the message “AI APT OTT,” and the proof-of-stake protocol’s price increased by 9.2% in a few hours, going from $12.27 to $13.40, although it has since retreated to $12.33 at the time of writing.

Musk also responded to a meme posted by a Dogecoin (DOGE) graphics designer, who referred to rumors that Musk had once owned an emerald mine, promising media outlets payment in DOGE if they could provide evidence of the mine’s existence.

The tweets caused Dogecoin to temporarily rise by 5%, from $0.0868 to $0.0912, but it has since fallen back to $0.0869 at the time of writing.

READ MORE: Bitcoin Defies Market Conditions, Doubles Number of Millionaires in 2023

Musk’s social media presence has demonstrated how powerful his statements and behaviors can be in the cryptocurrency market. His tweets persist in garnering attention and altering prices, leading to noteworthy market fluctuations.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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