X Token Surges 2000% Post Elon Musk’s Twitter Profile Update

Also Read: RIP Twitter; Elon Musk Officially Rebrands Twitter To “X”

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Is This The Elon Musk Effect?

Crypto called X token is linked to a multi-chain decentralized NFT market. Its official website mentions that the token is owned and operated by the X community, while, the Governance was provided by the X DAO. However, it is reported that the NFT marketplace is now closed.

According to the Coingecko data, X token price jumped by more than 2000% over the past day, while its price has recorded a surge of 1,830% in the past 7 days. X token is trading at an average price of $0.000392, at the press time. Its 24 hours trading volume is up by 142,779% to stand at $133,491.

It seems like hype generated by Elon Musk regarding rebranding Twitter to “X” seems to be a major force driving the token to the moon. In the recent turn of events, Musk even updated his Twitter profile picture to “X”.

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