In the early morning, Musk successively released two pieces of news that shocked the world: he resigned from the position of special adviser to the Trump administration and withdrew from the decision-making level of the Dogecoin Foundation. The double actions caused the cryptocurrency market to fluctuate violently. BTC fell 4.3% in half an hour, DOGE fell as much as 18.6%, and the X platform token unexpectedly rose 7.2% against the trend.
Insiders revealed that policy differences were the fuse for the resignation. The Trump team has a negative attitude towards the “Interstellar Payment Plan” led by Musk, believing that its digital currency settlement system may weaken the status of the US dollar. It is worth noting that Musk simultaneously cut off the operational connection with Dogecoin. The market value of this “grassroots currency” that he once held high in the live broadcast evaporated by 2.3 billion US dollars in 12 hours.
Binance market shows that the market is re-evaluating Musk’s assets. Although meme coins have generally suffered setbacks, Tesla concept tokens have moved abnormally, and the ENERGY token involving blockchain charging pile technology has soared 41% in a single day.
Analysts pointed out that Musk’s three major technology matrices are showing new layouts – Tesla Energy Network tests cryptocurrency settlement, SpaceX Starlink plans to embed DeFi protocols, and X platform builds a social financial ecosystem. These actions all point to the deep integration of the real industry and blockchain.
“This is essentially an upgrade of the application scenarios of cryptocurrency.” Zhang Tong, chief analyst of Digital Asset Research Institute, said, “When blockchain technology changes from a hype target to a payment system for Tesla charging piles, it means the beginning of real application.” But doubts followed. The cryptocurrency KOL “Chain Leopard Brother” pointed out that the 90-day volatility of Musk’s related tokens exceeded 300%, reflecting that the market is still overly affected by personal remarks.
It is interesting to note that Musk particularly emphasized the “chemical fusion of AI and blockchain” in his resignation statement. The industry speculates that he may announce major integration plans in the third quarter, including Tesla’s humanoid robots accessing the digital currency payment system, or SpaceX’s satellite network carrying a decentralized computing power market.
The current crypto market faces multiple tests: the US SEC’s regulatory review has intensified, and institutional funds such as BlackRock have been net outflows for four consecutive weeks.
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