Express

Cryptocurrency Backed By NBA Sneaker Sees A Stark Drop

Roland James

Summary: A Chinese cryptocurrency trader noticed a huge drop in the cryptocurrency backed by Nike’s Air Jordan sneakers in the wake of Houston Rocket’s General Manager Daryl Morey tweets, according to Reuters. The anonymous trader posted on Weibo (Chinese social media platform) that there was an apparent 10% crash in the price of the Jordan backed ...

A Chinese cryptocurrency trader noticed a huge drop in the cryptocurrency backed by Nike’s Air Jordan sneakers in the wake of Houston Rocket’s General Manager Daryl Morey tweets, according to Reuters.

The anonymous trader posted on Weibo (Chinese social media platform) that there was an apparent 10% crash in the price of the Jordan backed tokens on a United States-based exchange. This is believed to be in response to GM Daryl Morey’s declaration of solidarity with protestors in Hong Kong. The NBA’s Chinese market is estimated to be worth $4 billion.

By Roland James

Last Update:

Tags: ,,,,
Link: Cryptocurrency Backed By NBA Sneaker Sees A Stark Drop   [Copy]
  • U.S. SEC Clears Path for Institutional Crypto Custody, Recognizing State Trust Companie... 4 hours ago
  • BTC Weekly Watch: Is the Rebound "Feast" Nearing Its End? 15 days ago
  • ​The Crypto Treasury Boom Meets Regulatory Chill: Is the DAT Frenzy Fading? 22 days ago
  • Nasdaq Takes Aim at 'Crypto-Flipping' Companies with Stricter Rules 25 days ago
  • BTC Weekly Outlook: The Oversold Bounce—A Bottom or a Shorting Opportunity? 28 days ago
  • You need to login to comment.