Successful businessman Elon Musk confused his tweet about DeFi.
Tesla CEO Elon Musk was on the agenda with his latest tweet about DeFi. Following Musk's tweet, the value of the DeFi market in the cryptocurrency industry has exceeded $ 85 billion.
↪️The Elon Musk Effect in the Crypto World
Elon Musk's comments on Twitter have deeply affected many cryptocurrencies. Successful business people constantly tweet about Bitcoin (BTC) and Dogecoin. Elon Musk's "Do not challenge DeFi" tweet drew great interest in a short time. Following this tweet, DeFi market cap has increased. Some experts saw Musk's words as a hope for DeFi, while others suggested that Elon Musk was a troll.
Tesla CEO Elon Musk is now the second richest person in the world. Musk continues to have a huge impact on the cryptocurrency industry. Using Twitter very actively, Musk is followed with great interest by the crypto community. While DeFi supporters believe this tweet will have a positive impact on the DeFi market, they think Elon Musk is a true supporter. Elon Musk revealed his influence on cryptocurrencies with his tweets about Dogecoin. Musk's tweets caused #Dogecoin, created as a joke coin, to increase by over 1000%.
Elon Musk's last move was Tesla's acceptance of Bitcoin as a method of payment. It is thought that this move will bring along many institutional investments. After all, Musk's last area of interest seems to be the decentralized financial sector.
↪️Is Musk Moving With DeFi?
Some saw Musk's tweet as a sign of interest, while others were skeptical. Prior to the tweet, #DeFi tokens such as #UNI, #AAVE, and #SUSHI fell more than 10%. Opponents believe that following the falling prices of DeFi tokens, Elon Musk trolled DeFi. Others seem to have taken the tweet under deep scrutiny. Accordingly, the word game and alliteration used in the message are interpreted as proof that Musk is trolling the DeFi sector. However, when Musk's support style is examined; We can see that he influences people using his communication style, word games and sometimes jokes.