Elon Musk followed OKX on Twitter, and OKX became the only crypto exchange that Musk followed. Elon Musk doesn’t even follow Binance and Binance CEO CZ, who supported him in the Twitter acquisition process. So what is the underlying reason for this move?
After FTX collapse, crypto winter is experiencing its coldest days. But, after Elon Musk followed OKX, people were already excited. We reached an OKX executive, and he told us that there may be preparations for something big but do not have information about it.
Elon Musk, OKX, Floki: Why Elon followed OKX?
Why Elon followed OKX is still a mystery, but the official Floki account’s latest post maybe tell us something.
Is the universe speaking? ?
— FLOKI (@RealFlokiInu) December 16, 2022
Elon Musk’s tweet initiated Floki’s creation. When the millionaire revealed that he will call his Shiba Inu puppy Floki, a flood of ‘Floki’ dog coins flooded the market. Floki Inu is the most successful token launched in response to Musk’s post.
Floki is the third most popular meme token on the market behind Dogecoin and Shiba Inu at the moment. It is supported by a dedicated community of aficionados and a robust marketing effort.
Floki Inu (FLOKI), a dog-themed meme multi-chain token that operates on both the Ethereum and Binance Smart Chain (BSC) blockchains, is the largest gainer of the day, with a nearly 18% price increase over the past 24 hours.
Specifically, the meme coin commonly referred to as Shiba Inu’s rival soared after being listed on the OKX cryptocurrency platform. Following the IPO, the price of FLOKI Inu rose to a 30-day high of $0.00001089.
The meme coin stood out on a day when the market capitalization of all cryptocurrencies fell nearly 5% to $885 billion. Additionally, FLOKI’s market capitalization increased by more than $18 million in the preceding twenty-four hours. The meme coin has a circulating quantity of 9.3 trillion FLOKI coins and a total supply of 10 trillion at the time of writing
According to a Twitter user, Floki can become a Twitter payment method.
— CryptoKnightRider (@DanielNaik5) December 15, 2022
Is it the reason why Elon Musk followed OKX? For now, it is just speculation, but it seems like something big is coming. It is no secret that Elon Musk’s Twitter 2.0 vision includes crypto. If this move isn’t related to Floki, one thing is sure, in the future, we will see some OKX and Elon Musk collaborations. Because already known that Elon Musk’s tweets already have some secret meanings.
What is OKX?
OKX, formerly known as OKEx, is a cryptocurrency exchange and derivatives exchange established in the Seychelles. It was founded in 2017 by Star Xu. OK Group, which also operates the cryptocurrency exchange Okcoin, owns OKX. It is unavailable to investors in the United States. CEO of the company is Jay Hao, while CMO is Haider Rafique.
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What is crypto winter?
Crypto winter refers to a period of prolonged bearishness or declining prices in the cryptocurrency market. It is often used to describe a period of extended market downturn, similar to the concept of a “bear market” in traditional financial markets. The term “crypto winter” was first used in reference to the market downturn that occurred in 2018, when the price of Bitcoin and other cryptocurrencies saw a significant decline following the all-time highs reached in late 2017 and early 2018. Several other instances of market downturns in the cryptocurrency market since its inception have been referred to as a “crypto winter” by some in the industry.