Crypto

None of My Companies Will Ever Create a Crypto Token: Musk

11/04/2023
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Crypto

On November 03, 2023, Elon Musk announced that his new venture xAI will debut artificial intelligence (AI). The ‘X’ (formerly Twitter) post of Musk dated November 3, states that his company will release its first AI to a select group. ‘In some important respects, it is the best that currently exists,’ he added, refering to the launch.

When writing, xAI token was trading at $0.000000001582 with an intraday surge of 30.79%. However, in the past 24 hours, its trading volume soared over 230.08%. The market capitalization of xAI token is $79,118. 

This is not the first time when a surge in xAI token price has been observed. Almost every time Musk makes a statement, a significant surge in the trading price can be seen. In a statement, he said that “to be super clear, none of my company will ever create a crypto token.”

Notably, Elon Musk may be planning to launch a cryptocurrency wallet for X users. Musk’s announcement over the xAI will create competition in the AI industry.

Will Dogecoin be Affected by xAI’s Launch?

Doge is one of the top meme coins. At the time of writing this article, it was trading at $0.06887 with an intraday surge of 2.70%, while its trading volume declined 39.05% in the past 24 hours. 

As per market analysts, Doge price might get affected from the operation and contribution of xAI, as the company belongs to Elon Musk. One of the leading electric car manufacturers Tesla accept cryptocurrency payments via Dogecoins. 

Disclaimer

The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

Source: https://www.thecoinrepublic.com/2023/11/04/none-of-my-companies-will-ever-create-a-crypto-token-musk/