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Elon Musk has been increasingly distancing himself from cryptocurrencies, repeatedly stating his lack of interest in the field. However, investors chasing speculative trades continue to move in the opposite direction. The market value of a small altcoin experienced a massive increase following a development related to Musk’s company.
Elon Musk Neuralink (NLINK) Coin
As the mischievous billionaire moves away from cryptocurrencies, we see abnormal price increases in low market value altcoins claiming to be associated with him. The Neuralink (NLINK) crypto token saw a 3400% increase after the successful implantation of Elon Musk’s Neuralink device.
NLINK token started in 2018 to merge cryptocurrencies with futuristic technologies. It’s a nice story, but it has no actual connection to Elon Musk’s ventures. It claims to have a purpose such as managing the carbon emissions of electric vehicles using blockchain infrastructure, with a supply of 420 quadrillion.
The altcoin, launched as a BEP20 token on the BNB Chain, has a market value of $176,053.
Surged by 3400%
Neuralink is a chip initiative aimed at helping disabled people use their limbs, started by Elon Musk. Musk rolled up his sleeves to produce a modern version of the clicking mechanism used by theoretical physicist Stephen Hawking while speaking and has made significant progress in this area.
“The first users will be those who have lost the ability to use their limbs. Imagine Stephen Hawking communicating faster than a speedy typist or an auctioneer. That’s our goal.”
The chip communicates wirelessly with a computer and exchanges data. The product, still in the trial phase, was described by brain-computer interface expert Andrew Jackson as “solid engineering, mediocre neuroscience.”
Following Musk’s announcement that the recipient of the first implant was doing well, NLINK saw a 3400% increase due to the surge in interest from speculative investors. However, as stated above, Elon Musk has no involvement with this token. It is one of the altcoins that draw strength from Elon Musk’s popularity and the themes in his posts, similar to Floki, Shiba, and other meme coins.
There is also a token with the same name as X’s artificial intelligence product GROK. All these are nothing but meme coins that investors should be extremely cautious about.
