English
Arabic
Chinese (Simplified)
Indonesian
Russian
- Meme coin XAI has shed a big proportion of its worth since Elon Musk distanced himself from the token.
- Musk stated none of his corporations will ever create a crypto token after a token related together with his AI startup noticed a value growth.
- CoinMarketCap information reveals the token has misplaced 12.73% of its value within the final seven days.
Meme coin XAI has seen a big drop in its worth and commerce quantity following latest statements from billionaire tech founder Elon Musk. As beforehand reported, Musk, in a latest tweet on X – previously Twitter – acknowledged that none of his corporations will ever create a crypto token.
Notably, Musk’s tweet got here in response to rising hypothesis about his relationship with a booming memecoin, XAI. The meme coin’s title is akin to xAI, a man-made intelligence startup that Musk owns. Because of this, crypto specialists warned customers may assume the corporate owned the token.
CoinMarketCap information reveals XAI has struggled to exit the crimson zone since Musk made his assertion. On the time of press, the token was down 12.73% within the final seven days. Equally, XAI misplaced over 8% of its value up to now 24 hours.
In the meantime, this isn’t the primary time Musk has dominated out the opportunity of him or any of his companies launching a crypto token. Earlier in August, Musk made the same remark when he acknowledged that X would by no means launch a crypto token. The speculations then got here following rumors that the billionaire may combine Dogecoin as a cost possibility on the platform.
Moreover, the billionaire founder has beforehand revealed he holds Bitcoin, Ether, and Dogecoin. Equally, his firm, Tesla, holds round $184 million value of digital property, as revealed in the course of the firm’s final quarter report. Elsewhere, Dogecoin – a memecoin generally related to Musk – has regained its composure following a drop that got here after the billionaire’s assertion. The token has gained 1.74% up to now 24 hours and is presently exchanging palms at $0.07352 on the time of press.
Disclaimer: The data offered on this article is for informational and academic functions solely. The article doesn’t represent monetary recommendation or recommendation of any type. Coin Version just isn’t liable for any losses incurred because of the utilization of content material, merchandise, or providers talked about. Readers are suggested to train warning earlier than taking any motion associated to the corporate.