Several ‘X’ currencies appeared on decentralised exchanges (DEX) overnight when Elon Musk’s Twitter began replacing its distinctive blue bird emblem with an X symbol.
Over the weekend, Musk tweeted about the upcoming upgrade. On Sunday, Twitter CEO Linda Yaccarino announced the renaming.
Hundreds of X tokens have now been discovered on several blockchain networks. New tokens claiming to have a good roadmap for the coming months, as well as tokens that appear to be pump-and-dump operations, were among them.
One of them increased by as much as 1,200% in 24 hours despite the fact that the project was closed in May, implying that low-cap traders were buying everything labelled X in an attempt to make a small profit.