Altcoin surges by 119 000% after Vitalik Buterin’s joke

The token was created by a team of unknown developers after the Ethereum founder’s statement on Twitter

23.10.2022 - 07:30

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What’s new? THE, a new altcoin based on Ethereum, showed a sharp jump in price. The reason for this was a joke by one of the blockchain’s creators, Vitalik Buterin. On October 14, he wrote on Twitter that someone should create a project called “THE protocol” to take advantage of how often that article is used in English. Soon after, an unknown development team actually launched a project called The Protocol with the native token THE.

Someone should make a project called "THE Protocol", so that their shills can say "Look, soandso mentioned THE!" pretty much any time anyone says anything.— vitalik.eth (@VitalikButerin) October 14, 2022

How has the price of the asset changed? Since October 17, the price of THE has risen 119 118%, going from $0,0000384 to $0,04578 in just a few hours. As of October 22, 13:00 UTC, the altcoin is trading at $0,0165, having lost 31,9% in 24 hours, according to CoinGecko.

On October 4, the Dogecoin (DOGE) meme cryptocurrency’s rate rose by 8,5%, to $0,0656, according to Binance. The jump came after news that Tesla and SpaceX CEO Elon Musk had revived his deal to buy the social network Twitter.

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