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Crypto enthusiasts waste no time creating 50 unique cryptocurrencies.

Crypto enthusiasts have taken advantage of a high-profile hearing where former US government officials claimed the existence of alien spacecraft and “biologics.” The hearing, which took place at the House Oversight Subcommittee on National Security, featured testimony from David Grusch, a former Pentagon task force member on Unidentified Aerial Phenomena (UAP) and a whistleblower. Grusch accused the US government of covering up alien visitation to Earth. This hearing quickly went viral, leading to the emergence of over 50 alien, UFO, and extraterrestrial-themed tokens within the past 24 hours.

During his testimony, Grusch acknowledged that he couldn’t provide specific answers due to classified information but asserted that the US government possessed “non-human” spacecraft. He also cited insider sources who claimed that these craft contained “non-human biologics.” The disclosure made by Grusch sparked widespread interest and speculation about the existence of extraterrestrial life.

Another notable witness at the hearing was Ryan Graves, the executive director of Americans for Safe Aerospace, as well as retired Navy Commander David Fravor. Fravor gained attention for capturing video footage of a “tic tac” UAP off the coast of the US in 2004. He described these objects as capable of remaining stationary in strong winds, surpassing our current understanding of material science.

In the wake of the hearing, crypto enthusiasts wasted no time creating a slew of extraterrestrial-themed “shitcoins.” DexTools, a platform that allows traders to view low market cap tokens, revealed that over 50 of these tokens, with names like “ALIENX,” “UFO,” and “ALIEN,” emerged within the past 24 hours. However, it’s important to note that many newly created memecoins can be potential scams designed to entice investors through hype. These coins aim to prevent investors from selling their tokens after purchase.

Despite the buzz surrounding the topic on social media and search engines, most of the new tokens have experienced minimal trading activity. Nevertheless, some slightly larger alien-themed memecoins exhibited improved performance. The UFO Gaming Token (UFO) saw a 2.4% increase in the last 24 hours, while the AlienFi token (ALIEN) saw a 5.9% increase, according to data from CoinGecko.

While the emergence of these tokens is undoubtedly fueled by the excitement generated by the hearing, it remains to be seen whether they have any long-term value or are simply part of a speculative trend. As the fascination with UFOs and possible extraterrestrial life continues to capture public attention, it’s important for investors to exercise caution and thoroughly research tokens before investing.

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