MarsCoin jumped over 1,800% after being influenced by Elon Musk

We observe that Marscoin (MARS) is influenced by Elon Musk, the CEO of SpaceX. Elon Musk is committed to developing aerospace technology to send humans to Mars. Recently, Musk mentioned in a tweet regarding a crypto coin titled Marscoin in response to CZ_Binance. Coincidentally, Marscoin with a similar name later found itself skyrocketing by over 1800%. Indeed, the influence was created unintentionally, but one can observe how Musk has a strong influence on his community.

In December, Musk floated an idea for MarsCoin. The cryptocurrency was expected to be powering the economy of a colonized Mars, apparently. However, an already existing MARS crypto coin became the problem with the idea. Following the problem, Musk was only responding to queries whether to name the coin as ElonCoin or MarsCoin. As Musk agreed to the prospect of launching its cryptocurrency, following a statement, the existing MARS crypto-asset skyrocketed. 

On Tuesday, the coin was trading at the price level of $1.35 after surging by more than 1,800% amid Musk’s tweet. Before the new level, the coin was trading at the level of around $0.09 and later on hit a new all-time high at the price level of $2.49.

Marscoin is a digital currency aiming at the possibility of human life on Mars. The official website of the asset sees SpaceX as one of the leaders in its field. The asset has obtained itself from Litecoin, calling itself the most viable blockchain platform for inventory tracking on the red planet. Indeed after humans colonize the planet. The project also invites individuals to join it if they believe in a human settlement on the planet.

Since the beginning of 2021, it is observed that social platforms are influencing the prices in the stock and crypto market. Recently, Elon Musk’s tweet helped DOGE, the meme-based digital coin, to surge by more than 900%. Before the DOGE incident, Elon had changed his Twitter bio, adding #Bitcoin, and his millions of followers witnessed that. Indeed, the event helped Bitcoin price surge by more than 13% in a few hours only.

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