9 Cryptocurrencies Soaring Due to Musk’s Acquisition of Twitter

Since Tesla CEO Elon Musk has reached an agreement to buy twitter for about $44 billion on Monday, Twitter is becoming a private company. One of the many funny things that Emmanuel is known for posting on twitter. But no one can deny the fact that his Twitter has a great impact on society.

Elon Musk often talks about different cryptocurrencies on twitter, which seems to affect their prices. Although the world’s richest man has loved bitcoin for a long time, he recently found that climate change and the contribution of bitcoin to the escalation of the situation have brought him back to his words. On the other hand, Dogecoin is also a ball that Elon Musk keeps rolling on the court. This article introduces the top ten cryptocurrencies that soared due to Musk’s Twitter acquisition.

Bitcoin

Bitcoin is the king of cryptocurrency. There is no lie in it. As we all know, musk hopes to ensure that bitcoin mining uses more renewable energy before the electric vehicle manufacturer resumes accepting cryptocurrency. Bitcoin is currently regarded by many investors as “digital gold”, but it can also be used as a digital form of cash.

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Ethereum

Ethereum blockchain can be used by developers to create applications, so-called decentralized applications (also known as dapps). In order to access the network, developers need to buy Ethereum related tokens, namely ether (ETH). Similarly, if users want to interact with decentralized applications, they must pay in ether.

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Dogecoin

Launched in 2013, Dogecoin is one of the oldest digital cryptocurrencies. It is a point-to-point digital currency, which has recently been favored by firewood dogs all over the world, which makes the currency better rooted in the market. Elon Musk’s comments on Dogecoin also made the currency popular. It must be one of the top cryptocurrencies that will soar after Elon Musk’s Twitter acquisition.

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Shiba Inu

Shiba Inu remains one of the most attractive cryptocurrencies in 2022. Shib, one of the fastest growing cryptocurrencies in history, grew by nearly 50 million% in 2021 alone. The developers of Shiba Inu have launched a new combustion mechanism on their shibaswap exchange, which allows holders to obtain passive income while burning their tokens.

BabyDoge

Babydoge is a commemorative coin that performed well in 2021. The coin launched in the middle of last year recorded an impressive performance, and the price of the commemorative coin increased by a huge percentage. When Shib and other commemorative coins performed so well, they were introduced into the market. Babydoge was swept by speculation and grew exponentially.

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Bitgert

Bittert (bridge) is one of the top cryptocurrencies that will soar after Musk’s acquisition of twitter. It is one of the latest cryptocurrency items in the market and was launched at the end of July 2021. In the past five months, the team has made great achievements in building this defi project. In fact, it is the fastest growing cryptocurrency project in 2021. Investing in bitgert may be the best decision, because the potential of this currency is huge.

Solana

Like Ethereum, Solana is a blockchain network that provides developers with a medium for building and hosting dapps. However, Solana attempts to improve the poor scalability of the current system by using the “proof of equity” consensus mechanism. This mechanism has low energy consumption and can provide faster transaction speed.

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Binance coin

Binance coin is a form of cryptocurrency that you can use to trade and pay fees at binance, one of the world’s largest cryptocurrency exchanges. Since its launch in 2017, binance coin has expanded to not only promote trading on the binance exchange platform. It can also trade or exchange other forms of cryptocurrency, such as Ethereum or bitcoin.

Polkadot

Polkadot (DOT), founded in 2016, is a unique blockchain interoperability protocol designed to connect different chains together. It also allows the exchange of data and processing of quasi chain transactions, or parallel blockchains without affecting their security. Developers can create their own blockchain and use Polkadot’s security at the same time.