The crypto world has experienced yet another bizarre intersection with popular culture as a direct response to a captivating hearing about Unidentified Aerial Phenomena (UAP) that has taken the Internet by storm. According to DexTools, a platform that tracks unverified and low ma...
The crypto world has experienced yet another bizarre intersection with popular culture as a direct response to a captivating hearing about Unidentified Aerial Phenomena (UAP) that has taken the Internet by storm.
According to DexTools, a platform that tracks unverified and low market cap tokens, over 50 alien, UFO, and extra-terrestrial-themed tokens have appeared on various exchanges in the last 24 hours.
The Congressional hearing, held by the House Oversight Subcommittee on National Security on July 26, was thrust into the limelight after former Pentagon official, David Grusch, testified under oath about the alleged existence of alien spacecraft and extraterrestrial “biologics”.
The testimony implicated the U.S. government in an alleged cover-up of extraterrestrial visitations.
Although Grusch stated he was not at liberty to provide in-depth information due to the classified nature of these claims, he pointedly mentioned that the U.S. government was holding “non-human” spacecraft.
Furthermore, he claimed that these crafts contained “non-human biologics” based on information from Pentagon insiders still active within the UAP program.
Former U.S. intelligence official David Grusch claims under oath that aliens exist and that the U.S. government is in possession of UFOs and non-human bodiespic.twitter.com/Qu7KZGs9v3— Daily Loud (@DailyLoud) July 26, 2023
Also testifying at the hearing were Ryan Graves, the executive director of Americans for Safe Aerospace, and retired Navy Commander David Fravor. Notably, Fravor is known for capturing the now-famous footage of a “tic tac” UAP off the U.S. West Coast in 2004.
This UFO, observed to remain stationary even in severe winds, led Fravor to conclude that these UAPs employ technology “far beyond the material science that we currently possess.”
Capitalizing on this, crypto enthusiasts, often dubbed as ‘crypto degens’, have quickly jumped on the bandwagon, spawning a multitude of alien-themed tokens with tickers like “ALIENX”, “UFO”, and “ALIEN”.
These tokens are typical of the so-called “shitcoin” culture that leverages trending topics to attract speculative investors.
However, it’s worth noting that many of these newly minted memecoins could potentially be “honeypot” scams. These exploit investor hype but are rigged to prevent investors from selling their tokens after purchasing them. Thus, investors should exercise due diligence while trading these novelty tokens.
The majority of these newly created tokens have seen little to no trading activity, indicating a possible mismatch between the interest generated by the UAP testimony and real-world trading behavior. Nevertheless, a few alien-themed tokens such as UFO Gaming Token (UFO) and AlienFi token (ALIEN) have exhibited modest growth, with UFO gaining 2.4% and ALIEN up 5.9% in the past 24 hours.