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

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Strangely, the cryptocurrency of the same name was created. 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.

Daily chart of the USDT/STARL price. Source: TradingView
Daily price chart showing Elon Musk’s impact on the market. Source: TradingView
Two-hour chart of the STARL/USDT price. Source: TradingView