An altcoin called starlink was assembled when Elon Musk’s company launched 53 Internet satellites in orbit | Currency News | Financial and business news

Illustration of SpaceX's Starlink network of satellites.
Illustration of SpaceX’s Starlink network of satellites.

  • An altcoin called starlink rose a day after Elon Musk’s SpaceX launched 53 more Internet satellites into orbit.
  • The price of the coin peaked at a record high on November 14, reflecting a 117% increase from November 13.
  • There are now more than 1,600 Starlink satellites in orbit since the first two prototypes were launched in 2018.
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An altcoin called starlink rose over the weekend, a day after Elon Musk’s SpaceX launched 53 more Internet satellites into orbit.

The price of the coin, whose ticker is starl, peaked at a record high of $ 0.00008325 on November 14 on Sunday, reflecting a 117% increase from November 13, according to CoinMarketCap data. Starlink now ranks 236 with a market value of $ 682 million.

According to its white paper, the coin aims to be “used as a means of exchange in the metaverse.” It had a stealth launch with no pre-sale or announcement indicating when it started trading. However, data on crypto exchanges indicates that it reached a record high in July.

On Saturday, SpaceX launched 53 Starlink satellites into orbit from Cape Canaveral Space Force Station in Florida. There are now more than 1,600 Starlink satellites in orbit since the first two prototypes were launched in 2018.

Starlink, which sends internet from satellites in orbit to users’ dishes on Earth, has quickly grown its subscriber base. SpaceX has said it aims to launch 42,000 Starlink satellites into orbit by mid-2027.

There is no obvious connection between altcoin and the satellite launch other than their common name. But the collection in the token further strengthens Musk’s unique influence, the richest person in the world, on everything and everything.

This phenomenon, often called the Musk Effect, has been amplified several times. Notable cases included how he moved the prices of GameStop, Etsy, dogecoin, shiba inu and of course Tesla, among many others, all via Twitter.

Last week, a new Lorde Edge coin began trading after Musk began using that name on his Twitter account. The price hit a high of $ 0.00002954, representing an increase of 825% from the opening price, according to data from CoinMarketCap.

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