‘Musk effect’ sees crypto named after SpaceX’s Starlink satellites
![‘Musk effect’ sees crypto named after SpaceX’s Starlink satellites gain over 140% in 3 days](https://i-invdn-com.investing.com/news/Cryptocurrencies_800x533_L_1556528163.jpg)
In a bizarre event, a cryptocurrency with the same name as 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.
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