Crypto degens have been quick to try and capitalize on a widely-watched hearing where former United States government officials have claimed the existence of alien spacecraft and “biologics.” Testifying under oath at the House Oversight Subcommittee on National Security, David Grusch, a former Pentagon task force member on Unidentified Aerial Phenomena (UAP) and whistleblower, accused the U.S. government of covering up alien visitation to Earth. The July 26 hearing has since gone viral, prompting over 50 alien, UFO, or other extra-terrestrial themed-tokens to crop up over the last 24 hours.
During the hearing, David Grusch admitted that he couldn’t provide answers to specific questions due to much of the information being classified. However, he stated that the United States government was in possession of “non-human” spacecraft. Grusch cited Pentagon sources who still worked on the UAP program, claiming that they had found “non-human biologics” on these craft. Ryan Graves, the executive director of Americans for Safe Aerospace, and retired Navy Commander David Fravor also testified at the hearing.
David Fravor, in particular, gained notoriety for capturing footage of a “tic tac” UAP off the West Coast of the U.S. in 2004. He noted that these UAPs were capable of staying completely still in gale-force winds, leading him to conclude that they possessed technology far beyond our current scientific understanding.
Capitalizing on the hype generated by the hearing, crypto degens wasted no time pumping out a flood of new extra-terrestrial-themed tokens. DexTools, a platform for traders, reported the emergence of over 50 alien, UFO, and other extra-terrestrial-themed tokens within the past 24 hours. These tokens, with tickers like “ALIENX,” “UFO,” and “ALIEN,” have flooded the market, hoping to attract investors who are intrigued by the subject.
It is important to note that many of these new memecoins could potentially be scams, often referred to as “honeypots,” that try to take advantage of the buzz around a certain topic to attract investors. These scams usually prevent investors from selling their tokens after they buy in, creating a fear of missing out (FOMO) effect. Despite trending on Twitter and Google searches, most of the new tokens have seen little to no trading activity.
However, some of the slightly larger alien-themed memecoins have experienced modest gains. The UFO Gaming Token (UFO) has gained 2.4% in the last 24 hours, while the AlienFi token (ALIEN) saw a 5.9% increase, according to data from CoinGecko.
While the interest in these alien-themed tokens remains to be seen, it is evident that the hearing has sparked curiosity and speculation within the crypto community. As with any investment, it is crucial for individuals to exercise caution and thoroughly research before investing in such volatile and speculative assets.
In conclusion, the viral hearing on UFOs and non-human spacecraft has ignited a surge of interest in the crypto market, with numerous alien-themed tokens flooding the market. While some tokens have seen modest gains, it is important for investors to remain cautious and avoid falling victim to potential scams.
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