GROK whales decry supposed FUD from crypto sleuth ZachXBT
The market cap of AI-inspired altcoin $GROK fell sharply on Nov. 13 after well-known blockchain investigator ZachXBT tied its creator to earlier potential scams.
Supporters of a Grok token, $GROK, banded collectively within the wake of aspersions surrounding the challenge and its developer, who has supposedly created different cryptocurrencies previously.
In keeping with on-chain sleuth ZachXBT, the challenge’s X account was beforehand used to advertise crypto tokens which will or could not have been rip-off efforts. The impartial investigator pointed to the account’s ID as proof for his or her assertion.
$GROK’s market cap, which had climbed above $120 million earlier than the submit, declined considerably within the aftermath together with its value.
Backers of the challenge opened an X Spaces shortly after to dispel what they termed FUD, a time period in crypto meaning “worry, uncertainty, and doubt.” The challenge’s developer additionally burned tokens from the deployer pockets, price an estimated $1 million, in a transfer meant to spice up public sentiment.
Attendees of the occasion chimed in, with some voicing skepticism concerning ZachXBT’s submit and others sharing distinct ideas in regards to the challenge.
At press time, the token’s market cap hovered beneath $100 million, in line with CoinGecko. Its value was down over 17% inside 24 hours, per CoinMarketCap.
This Grok token ranked amongst a handful of altcoins issued in early November 2023, coinciding with the early launch of Elon Musk’s Grok AI chatbot mentioned to rival OpenAI’s ChatGPT. Not one of the tokens are linked with Musk’s firm and have been the most recent in a protracted line of cryptocurrencies constructed round standard occasions.
