An artificial intelligence service owned by Elon Musk's Grok AI-inspiredtoken (used instead of money for slot machines, in game arcades etc),Market capitalization soared to $160 million just eight days after its release... The token joins a series of speculative frenzies this year ranging from frog-themed tokens to hamster races.
The price of Grok (GROK) has more than doubled in the last 24 hours, extending a week-long rally to 13000%, according to DEXTools.This means that $100 invested in these tokens may yield $13,000 in seven days.
The GROK token currently has 11,000 holders and has realized $25 million in trading volume in the last 24 hours. This particular token is one of dozens of GROK tokens created by developers on multiple blockchains.Firstindividuals, most of which have either been priced down or failed to increase in value since their issuance.
According to DEXTools.Top GROK holders are currently holding between $2.1 million and over $6 million in unrealized profits. However, as of Monday, the available liquidity in the GROK-USD pair was only $3.5 million, meaning that a major sell-off could completely reverse this upward trend.
Grok, the AI chatbot service from social app X, began rolling out on Saturday. A preview shows that compared to existing competitors, theThe service is relatively more unrestricted and humorous, which seems to have quickly helped it gain a rabid following.
Anyone can invoke a smart contract and issue tokens on Ether (or any other blockchain) for as little as a few cents. The existence of decentralized exchanges means that tokens can be issued immediately, provide liquidity, and be traded shortly thereafter.
All Grok tokens are not related or associated with the actual Grok AI service.