- An altcoin referred to as starlink rallied a day after Elon Musk’s SpaceX launched 53 further web satellites into orbit.
- The worth of the coin peaked at a document excessive on November 14, reflecting a 117% rise from November 13.
- There at the moment are greater than 1,600 Starlink satellites in orbit, for the reason that first two prototypes have been launched in 2018.
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An altcoin referred to as starlink rallied over the weekend, a day after Elon Musk’s SpaceX launched 53 further web satellites into orbit.
The worth of the coin, whose ticker is starl, peaked at a document excessive of $0.00008325 on November 14, Sunday, reflecting a 117% rise from November 13, based on CoinMarketCap information. Starlink now ranks 236 with a market capitalization of $682 million.
In accordance with its white paper, the coin goals to be “used because the medium of alternate throughout the metaverse.” It had a stealth launch with no pre-sale or announcement that point out when it started buying and selling. Nonetheless, information on crypto trackers equivalent to CoinMarketCap and CoinGecko point out it could have began buying and selling round July 2021.
On Saturday, SpaceX launched 53 Starlink satellites into orbit from Cape Canaveral House Drive Station in Florida. There at the moment are greater than 1,600 Starlink satellites in orbit, for the reason that first two prototypes have been launched in 2018.
Starlink, which beams web from satellites in orbit to customers’ dishes on the bottom, has been quickly rising its subscriber base. SpaceX has said it goals to launch 42,000 Starlink satellites into orbit by mid-2027.
There isn’t any obvious connection between the altcoin and the satellite tv for pc launch aside from their shared identify. However the rally within the token additional solidifies the unparalleled affect of Musk, the richest individual on this planet, on something and all the pieces.
This phenomenon, usually referred to as the Musk Impact, has been bolstered a number of instances. Notable cases included how he moved the costs of GameStop, Etsy, dogecoin, shiba inu, and naturally, Tesla, amongst many others, all by way of Twitter.
Simply final week, a brand new Lorde Edge coin began trading after Musk started utilizing that identify on his Twitter account. The worth hit a excessive of $0.00002954, representing an 825% surge from the opening value, based on information from CoinMarketCap.