- Marscoin has surged by more than 1800% in few hours after unintentionally being influenced by Elon Musk
- MARS is the red planet digital currency aiming at the possibility of human settlement on the red planet
- Musk has become a social media influencer affecting the price of the cryptocurrency in the market
Marscoin (MARS) is observed experiencing Elon Musk’s influence, the chief executive officer of Tesla. Elon Musk is committed to building aerospace technology to send humans to Mars. Recently Musk mentioned in a tweet regarding a crypto coin entitled Marscoin in reply to CZ_Binance. Coincidently, Marscoin with a similar name is later found soaring higher by more than 1800%. Indeed, the influence was created unintentionally, but it can be observed how heavy an influence Musk has on its community.
Marscoin as another namesake cryptocurrency skyrocketing
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.Â
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.
MARS the red planet crypto asset
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.
Musk nowadays is influencing the prices in the crypto market
Since the beginning of this year, 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.
