Elon Musk changes Twitter name to ‘Lorde Edge,’ crypto soars

0
7

[ad_1]

Tesla CEO Elon Musk mysteriously changed his Twitter name to “Lorde Edge” on Sunday — and profiteers were quick to capitalize, creating a cryptocurrency named after the billionaire’s new moniker.

There’s no indication that Musk himself is associated in any way with the digital currency, called Lorde Edge coin, but that hasn’t stopped crypto enthusiasts from pushing its price higher.

Lorde Edge coin, which just started trading earlier Monday, soared more than 400 percent by 10:50 a.m. ET, according to pricing data from CoinMarketCap. The coin was last seen trading at $0.0000188 per coin.

A coin with such a small market capitalization could be easily influenced by just a few large holders of the cryptocurrency, so the risk associated with investing is extremely high.

A screenshot of Elon Musk's Twitter profile with the new name.
The name change, which occured on Sunday, seemed to prompt Lorde Edge coin to start trading early Monday.

It’s not clear exactly who the developers behind the coin are, but a website, Twitter page and Telegram channel appear to have been set up for the crypto.

“$EDGELON (Lorde Edge) is the first of its kind token celebrating the Dogefather and crypto CEO, Elon Musk!” reads a description of the crypto on edgelon.online.

“Directly following Elon Musk’s twitter name change, this token pays tribute to our one and only leader in mooning multiple projects such as DOGE and SHIB. And of course… ELON – known as Dogelon Mars!” the site says.

“Mooning” is a popular term used by crypto speculators to refer to any coin that soars rapidly in value, tripling, quadrupling or increasing by even more factors in a 24-hour period.

The nascent crypto aside, it’s not clear why Musk changed his Twitter name, or what “Lorde Edge” means.

He also changed his location to “Tröllheim,” which roughly translates to Troll’s World and is also a mountain in the fictitious world of Old School RuneScape. Musk previously changed his location on Twitter to Trollheim last year.

The name change to “Lorde Edge” stoked some speculation that Musk — who has a reputation for cheering the rise of certain cryptocurrencies — is once again touting Dogecoin.

“lorde edge is an anagram for elder doge,” Billy Markus, one of Dogecoin’s co-founders, said on Twitter Sunday evening.

“(this doesn’t mean it was intentional, but it is in fact an anagram),” he added.

The price of Dogecoin was up more than 5 percent Monday morning, trading at 28 cents per coin while rival Shiba Inu coin was down almost 4 percent over the past 24 hours.



[ad_2]

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here