We’ve said that before and will state it again. There are very few certainties of general. Day after day. Additionally, Elon Musk has been tweeting around cryptocurrencies. Typically, this has a negative impact on crypto holders, as shown by the tumbling prices of Dogecoin and Bitcoin over the last few weeks.
The former is the product of an SNL appearance that did not result in the Dogefather assisting in the predicted increase in Doge prices. Now, the cryptocurrency is attempting to retaliate, and as a consequence, a new coin has been created—STOPELON.
The goal is to educate crypto investors, especially newcomers, about the crypto market volatility induced by Elon Musk’s tweets, which the group refers to as “irresponsibly exploiting.” The ultimate goal—to acquire complete ownership of Tesla stock after the completion of the four-phase $STOPELON launch program.
“Elon Musk is notorious for using his Twitter handle to irresponsibly manipulate the cryptocurrency sector. He did so again lately, triggering a huge collapse on all frontiers when he tweeted that Tesla would no longer allow Bitcoin as payment. Anyone with perhaps the barest semblance of logical thought sees right through his deceptions. He’s been attempting to inject cryptocurrency for years, constantly tweeting about it and also appearing on Saturday Night Live as a last resort to boost Dogecoin! It’s ridiculous!” According to the Stop Elon team’s website.
They are unequivocal in their assessment of Musk, claiming that his tweets mess with investor portfolios like sugar and characterize him as a “narcissistic billionaire.”
The $STOPELON staggered deployment continues with the unveiling of the platform and the addition of the cryptocurrency to BSCSCAN, a database that monitors cryptocurrency transactions and holders. The following moves in this process include a continuing code analysis by techrate.org, as well as listing on Coinhunt, CoinGecko, Delta, Coinstats, and BlackFolio, as well as targeting 5000 BSC emails.
The second phase would include staking liquidity, a large-scale token decline through exchanges, the establishment of the NFT shop STOPELON, and the listing of small-cap tokens on small-cap exchanges.
The third step will see STOPELON targeting KuCoin for mind-cap exchange listings, whilst the fourth phase will see STOPELON targeting Binance, Coinbase, and Kraken for large-cap crypto coin listings.
The community’s ultimate goal is to seize complete hold of Tesla stock and “fly to f*g Pluto,” as they put it. StopElon is currently trading at $0.0000188133, with a market capitalization of $9,774,130 and a potential stock of 1,000,000,000,000. You can purchase $STOPELON right now from the Trust Wallet, which is compatible with the Apple iPhone and Android smartphones.
The group recommends the following for phase two: “Transfer BNB to your pocket.” This can be accomplished through Binance’s BNB network, or by accessing your Smart Chain wallet and pressing the buy button in the right corner.”
You will then join PancakeSwap through DApps and exchange BNB for $STOPELON using the contract address 0xd83cec69ed9d8044597a793445c86a5e763b0e3d.
Cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Dogecoin have been criticized for the amount of energy used to mine them and their effects on the climate.
A few days earlier, amidst all of Musk’s cryptocurrency messages, he took time to write that Tesla would no longer allow Bitcoin as payment for their electric vehicles, due to the increased power demand associated with mining and transacting with Bitcoin and other crypto coins, as well as the environmental effect associated with that.
In March, Tesla announced that they would consider Bitcoin as a form of payment for their electric vehicles. Later that year, financial services and wealth management company Galaxy Digital published several Bitcoin energy usage figures, indicating that conventional banking networks, as well as gold mines, consume up to twice the amount of energy required by Bitcoin.
Galaxy Digital estimates the Bitcoin network’s average energy demand at 113.89 terawatts an hour per year (TWh/year). In contrast, financial networks consume 263.72 TWh of electricity per year, while gold mining absorbs approximately 240.61 TWh per year.
Additionally, they point out that of the 26,730.07 TWh/yr generated electricity, transmission losses of up to 2,205.23 TWh/yr occur—as verified by International Energy Agency results (IEA). This deficit is 19.36 times the annual energy intake of Bitcoin.