In the sea of cryptocurrencies that have proliferated in recent months, one crypto is making waves: it is called StopElon and it is the crypto of those who no longer tolerate Elon Musk.
The CEO of Tesla has been able to heavily influence the market in recent months.
After he announced in February that Tesla had invested 1.5 billion dollars in bitcoin, he led the market to an unprecedented rally. The whole sector hit historic highs. He later announced that those who want to buy a Tesla will be able to do so by paying in bitcoin. But then in recent weeks, Elon Musk realized that Bitcoin mining and transactions consume far too much energy, so Tesla will no longer accept BTC payments.
From the hype, the bubble seemed to burst and the whole market found itself in deep red. This situation is also complemented by the new imposition of China, which is applying further restrictions on bitcoin and cryptocurrencies.
Today, Elon Musk met with leading North American mining companies and Microstrategy CEO Michael Saylor to discuss the production of bitcoin with renewable energy.
StopElon crypto: purpose, market cap and community
For the crypto community, this embrace of Elon Musk has become stifling.
This is why StopElon was born, the crypto whose ultimate goal is to oust the CEO of Tesla… from Tesla, by buying shares in the company of which Musk is the founder.
On the official website, it is explained that:
“Elon Musk is infamous for irresponsibly manipulating the cryptocurrency market with his Twitter account. Just recently, he did it again, causing a massive crash across all frontiers when he tweeted that Tesla will cease to accept Bitcoin as payment.
Anyone with even a shred of critical thinking sees through his lies. He has been trying to pump crypto for ages, tweeting about it to no end, and even going on Saturday Night Live as a last resort to get Dogecoin up! It’s ridiculous!
He’s toying with people’s portfolio like candy, like the narcissistic billionaire he is and always will be.
We say ENOUGH. Hence, we created $STOPELON. Where we get rich, without anyone controlling our fate except ourselves.
All you have to do is BUY and HODL”.
It actually sounds like yet another speculative cryptocurrency with no use case. In fact, in the road map divided into phases, it says that in phase 4, the last phase, StopElon wants to enter Tesla’s equity, obviously by buying the shares.
At the moment 1000 billion StopElon tokens have been issued, which can be bought on Pancake Swap as they are tokens issued on Binance Smart Chain.
The numbers for the moment say that the token has reached $34 million in capitalization with about 19,000 addresses.
The Telegram channel has 15,000 members, while Twitter has 2,700 followers.
These are small numbers, but they also give a measure of the existence of a part of the crypto community that is fed up with seeing the market hanging on the tweets of Tesla’s CEO.