Elon Musk’s latest announcement to rebrand Twitter as ‘X’ has induced a stir within the cryptocurrency world, with the beforehand unnoticed altcoin X experiencing an astounding rise in worth of 11486.6% in simply seven days.
Musk’s imaginative and prescient for X and its potential affect on the monetary panorama is a vital driver behind his appointment of Linda Yaccarino because the CEO of Twitter in Might.
Twitter Plans For ‘X’ Platform
In a latest announcement, Linda Yaccarino unveiled the corporate’s plans to launch a brand new platform, “X,” which is able to change how individuals work together with one another and the world.
In keeping with Yaccarino, X would be the way forward for “limitless” interactivity, centered on audio, video, messaging, and funds/banking, finally creating a worldwide market for concepts, items, companies, and alternatives.
X might be powered by synthetic intelligence (AI), enabling it to attach individuals in “ways in which they’ve solely simply begun to think about.”
This new platform has already began to take form over the previous eight months by Twitter’s speedy characteristic launches. Yaccarino believes that Twitter has the potential to “dream larger, innovate quicker, and fulfill its nice potential with X.”
Linda Yaccarino and Elon Musk, additionally concerned within the mission, are excited to work with their groups and companions to carry X to the world. The platform has the potential to ship the whole lot and has no limits to its transformational energy.
X Outperforms World Crypto Market
Then again, X, the decentralized cryptocurrency related to Mission X, has seen a big improve in market exercise and worth over the previous week.
CoinGecko knowledge reveals that the present worth of X is $0.00032631, representing a 1,148.62% improve within the final 7 days and up by over 29% within the final 24 hours.
X tokens could be traded on decentralized exchanges, and the most well-liked trade to purchase and commerce X is Sushiswap. The each day buying and selling quantity of X has seen a exceptional improve of 5,797.00% within the final 24 hours, with probably the most lively buying and selling pair X/WETH having a buying and selling quantity of $216,430.
The very best worth ever paid for X was $0.04269569, recorded on January 20, 2022. The present worth is -99.40% decrease than the all-time excessive worth. Conversely, the bottom worth paid for X was $0.00000919, recorded on Might 11, 2023, simply two months in the past. The present worth is 2,666.20% greater than the all-time low worth.
Moreover, the market capitalization of X is $829,733, and it’s ranked 2025 on CoinGecko right now. The absolutely diluted valuation of X is $2,544,433, which is a statistical illustration of the utmost market cap, assuming the utmost variety of 10 billion X tokens are in circulation right now.
X has outperformed the worldwide cryptocurrency market, down -3.20%, and comparable Ethereum Ecosystem cryptocurrencies, up 12.70%, with a worth improve of 1,148.60% within the final 7 days. The group is bullish on X, with greater than 58% of customers feeling optimistic about its prospects.
As of this writing, the cryptocurrency X will not be instantly related to Twitter or Elon Musk. Nevertheless, market individuals might buy the coin to leverage any hype round future bulletins.
Featured picture from Twitter, chart from TradingView.com