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‘Musk effect’ sees crypto named after SpaceX’s Starlink satellites gain over 140% in 3 days

Published 11/15/2021, 05:24 AM
Updated 11/15/2021, 07:00 AM

In a bizarre event, a cryptocurrency with the same name as SpaceX’s satellite range Starlink jumped over 140% as Elon Musk’s space technology company launched 53 of them into the Earth’s lower orbit.

Written as StarLink (STARL), the little-known crypto rallied 13.70% on Nov. 13 — the day of the satellite launch, another 69% a day after it, and by up to 27% on Nov. 15. The massive upside move brought STARL’s net returns on investment by a little over 140% in just less than three days, data from the OKEx exchange shows.

STARL/USDT daily price chart. Source: TradingView
BTC/USD daily price chart featuring Elon Musk's influence on Bitcoin market. Source: TradingView
STARL/USDT two-hour price chart. Source: TradingView

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Latest comments

were all about climate change and cleaning up the planet.... but now theyre polluting space..
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