The cryptocurrency named after Elon Musk’s artificial intelligence has grown by 6500% in just one day

A new cryptocurrency token called GROK2, whose name is similar to Elon Musk’s AI-powered chatbot, has soared by 6545% in the past 24 hours.

According to Dextools market data, GROK2 is currently trading at $ 0.1 456 with a market capitalization of approximately $ 315,400. The trading volume for the past 24 hours is an impressive $ 643,180.

Despite its name, the GROK2 token has no official connection to Elon Musk or his business. The rally coincided with Musk’s sharp response to advertisers suspending spending on X after the controversy. Addressing advertisers, Musk said: «Don't advertise. If someone tries to blackmail me with advertising, blackmail me with money? Let them…[нецензурна лексика],» Elon Musk said.

Regarding Elon Musk’s AI startup, information about Grok AI provoked a massive emergence of fake cryptocurrencies. Anonymous developers have already created about 400 digital tokens with the GROK name. It is worth noting that since any user can create a smart contract on the blockchain, such tokens always appear on the wave of excitement around a new project. A similar situation occurred after Twitter’s rebranding, when the network was flooded with coins with the X ticker.