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Did Elon Musk Just Take a Massive Step in Crypto Marketing?

The cryptocurrency market experiences significant volatility in response to Elon Musk's social media activity, particularly his tweets, a phenomenon traders have dubbed the "Musk Effect." As Tesla's CEO and one of the world's most influential figures, Musk's public statements about various cryptocurrencies can trigger dramatic price swings within minutes. This outsized influence demonstrates both the nascent nature of crypto markets and the power of celebrity endorsements in the digital asset space.