Elon Musk, the CEO of SpaceX and Tesla, has recently triggered a new controversy by persuading U.S. President Donald Trump to bring forth the files associated with Jeffrey Epstein, a late financier. This demand has reportedly had a significant impact on the crypto market amid the speculation of Epstein’s links to high-profile people. Although Musk deleted his tweets later on, the matter has gained notable attention across the market.
Elon Musk’s Push for Trump to Bring Forth Epstein Files Triggers Effect on Crypto
Elon Musk’s push to the U.S. President to release Epstein files has ignited notable debate concerning transparency. When it comes to the impact of this controversy on the crypto market, Ethereum ($ETH) is at the top of the list. Hence, the top altcoin recorded noteworthy fluctuations following this development.
At present, $ETH is trading at $2,954.79 while its market capitalization stands at $356.69B. Additionally, its market dominance has touched 9.71% while the fully diluted market capitalization thereof accounts for $356.69B. Interestingly, its trading volume has dropped by 49.59% over the past twenty-four hours.
Despite Steady Fundamentals, Such Developments Contribute to Building Wider Narrative
Keeping this in view, the market onlookers are of the view that the present events dealing with the figures like Musk and Trump pose direct financial effects. Although such matters do not shift the market fundamentals, they still impact the momentary outlook. As a result of this, the key assets like Ethereum ($ETH) and Bitcoin ($BTC) witness some effect, specifically in terms of sell and buy trends.
In this respect, the crypto community is continuously watching for the repercussions of this development. Now, as Epstein’s name is again being circulated amid Elon Musk’s attempt to stir the conversation this weekend, the community members are discussing it another time. Though the markets have shown a steady development, such developments play crucial role in building the wider narrative.
