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- An altcoin known as starlink rallied a day after Elon Musk’s SpaceX launched 53 further web satellites into orbit.
- The value of the coin peaked at a file excessive on November 14, reflecting a 117% rise from November 13.
- There are actually greater than 1,600 Starlink satellites in orbit, for the reason that first two prototypes had been launched in 2018.
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An altcoin known as starlink rallied over the weekend, a day after Elon Musk’s SpaceX launched 53 further web satellites into orbit.
The value of the coin, whose ticker is starl, peaked at a file excessive of $0.00008325 on November 14, Sunday, reflecting a 117% rise from November 13, in accordance with CoinMarketCap knowledge. Starlink now ranks 236 with a market capitalization of $682 million.
In keeping with its white paper, the coin goals to be “used because the medium of trade throughout the metaverse.” It had a stealth launch with no pre-sale or announcement that point out when it started buying and selling. Nonetheless, knowledge on crypto trackers equivalent to CoinMarketCap and CoinGecko point out it might have began buying and selling round July 2021.
On Saturday, SpaceX launched 53 Starlink satellites into orbit from Cape Canaveral Area Power Station in Florida. There are actually greater than 1,600 Starlink satellites in orbit, for the reason that first two prototypes had 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 apart from their shared title. 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 known as the Musk Impact, has been bolstered a number of occasions. 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 title on his Twitter account. The value hit a excessive of $0.00002954, representing an 825% surge from the opening worth, in accordance with knowledge from CoinMarketCap.
