Ethereum founder Vitalik Buterin looks to be spearheading this year’s bust coin craze. Buterin’s tweets inspired three chest coins throughout the week. These coins have experienced a steep rise, as has been the case with multiple chest coin projects. In fact, there are even 120,000 percent. Here are the details…
Vitalik Buterin’s tweets energized the chest coin market
In a tweet on Friday, Ethereum founder Vitalik Buterin proposed conditional burns as a solution to Twitter spam bots. He said that the recipient of a message should have the right to force the user to burn a hypothetical “X token” if the response is not relative to them. Buterin’s proposal came in response to a proposal by FTX’s Sam Bankman-Fried to host social media posts on-chain. According to the SBF, paying for handouts will likely deter spam bots. However, Buterin voiced his belief that regular burns are better, this idea received reinforcement from the SBF.
Despite the context of the conversation, some of the crypto community on Twitter began to wonder if Buterin would create a project for the “X” token featured in his tweet. Within a few hours, two X tokens were released, one on the Ethereum chain and one on the gluttonous Binance chain. In particular, it seems that the one on the Ethereum chain attracts attention. In less than 24 hours, total market cap has already increased by 3.888 percent, surpassing $1 million, according to DEXTOOLS’ information.
Two chest tokens, THE and DIE, were born this week, inspired by Vitalik Buterin. X became the third chest coin Buterin inspired from his tweets in a week. As highlighted by one user, Buterin has the same influence that Elon Musk had in 2021. He also points out how quiet the crypto markets are and wishes for volatility amid crypto believers.
THE had risen 120,000 percent
Koindeks.com As we reported, Buterin talked about how widely the word “the” is used last week. He made a joke that someone had to create a project called “THE Protocol” to take advantage of this. “Somebody should do a project called ‘The Protocol’ so that when someone randomly says something, ‘Look, he mentioned the blah blah!’ can say,” he said.
Buterin’s joke soon became a reality when an unknown development team soon created a crypto asset called THE Protocol (THE). Since October 17, THE has seen a stunning 119.118 percent increase in price, going from $0.0000384 to $0.04578 in just a few hours.
THE has stabilized ever since. According to DEXTools, it is changing hands at $ 0.02246, down 19.2 percent in the last 24 hours. Just hours after seeing THE startling price hike, Buterin once again sneered at Twitter, “What did I do?” she asked. While THE developers have launched a website for the crypto-asset, not much has been revealed about what their use-case might be.