The year 2021 is coming to an end, but the falling prices of cryptocurrencies do not end. Major cryptocurrencies continued to drop before the $6 billion crypto options contract expired on Friday. According to the data, the global crypto market cap plunged 2%. Meanwhile, an altcoin experienced a sudden rise as a result of the statements of Tesla CEO Elon Musk, who praised Dogecoin (DOGE) on occasion.
The statements of DOGE fan Elon Musk have increased the value of this coin
Tesla CEO Elon Musk said in a recent podcast that he does not yet fully understand smart contracts based on the Ethereum Blockchain. Smart contracts are self-executing contracts when certain pre-programmed conditions are met. Then, Musk made a prediction about the official currency of Mars and used the following statements:
I don’t know if Mars will become a cryptocurrency, but it looks like it probably will, but it would be something localized on Mars.
After Elon Musk’s statements, a cryptocurrency unrelated to Musk, Marscoin (MARS), has risen. According to the project, “Marscoin (MARS) is a cryptocurrency. Users can generate MARS through the mining process”. The altcoin has climbed from lows of $0.08 to $0.26 in the last 24 hours and is up over 200 percent. It is trading at $0.8262 at the time of writing, with a sharp decline. According to their website, “Marscoin is exploring the idea of leveraging the power of peer-to-peer, distributed cryptocurrency to promote space exploration.”