Several tokens branded X popped up on decentralized exchanges (DEX) overnight as Elon Musk-owned Twitter put rebranding plans in motion – which apparently sees the company dump its iconic blue bird logo for an X symbol. By shauryamalwa
Several tokens branded ‘X’ popped up on decentralized exchanges overnight as Elon Musk-owned Twitter started dumping its iconic blue bird logo for an X symbol.over the weekend. Twitter CEO Linda Yaccarino confirmed the rebranding on Sunday.
Scores of X tokens have now appeared on multiple blockchain networks. These included new tokens claiming to have a proper roadmap for the coming months as well as tokens that are seemingly pump-and-dump schemes. One of them jumped as much as 1,200% over the 24 hours even though its project shuttered in May, suggesting low-cap traders were buying just about anything branded X in an effort to eke out a tiny profit.
Professional traders told CoinDesk that such euphoria exists because major tokens such as bitcoin and ether are enduring periods of low volatility, forcing some market participants to punt on meme coins and low caps.
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